Brendan Kennedy, CEO of medical cannabis producer Tilray, poses in a greenhouse at the Canadian company’s European production facility in Cantanhede on April 24, 2018.
Patricia De Melo Moreira | AFP | Getty Images
Brendan Kennedy, CEO of Canadian cannabis company Tilray, is optimistic that the United States will take steps toward federal marijuana legalization in the near future, a move that will rock the industry forever.
“I hope that pressure from the North and South will eventually lead the United States to implement a federal program here sometime in the next 18 to 24 months,” Kennedy said in an interview with CNBC’s “Squawk on the Street” program on Wednesday.
Earlier this month, Mexico issued regulations for the use of medical cannabis and Kennedy is confident that Mexico and Canada’s positive stance on marijuana will put more pressure on the US
Tilray announced on Tuesday that it was chosen as a supplier of medicinal cannabis for experimentation in France by the country’s National Agency for the Safety of Medicines and Health Products.
Since 2017, the company has been selling its cannabis products in Germany. With the French program underway in the first quarter, Kennedy is optimistic that other European countries will implement medical marijuana programs as well.
“While we are excited about our opportunities in Germany and France, we hope to see additional opportunities for our European businesses in the coming quarters,” Kennedy told CNBC in an interview.
Tilray has cannabis production licenses in Canada and Portugal, where its main cannabis factory is located.