08:01 AM EDT, 03/14/2024 (MT Newswires) -- Tilray Brands Inc. ( TLRY ) said Thursday that it has received approval for the first medical cannabis extract in Portugal called Tilray Oral Solution THC 5 CBD 20.

The newly approved product will launch in late spring and the approval indicated for use in several critical areas of patient care, the company said.

"With the approval of our first medical cannabis extract, we are proud to be at the forefront of medical cannabis research and accessibility and continue to demonstrate our commitment to providing innovative, safe, and effective therapeutic options to patients," said Denise Faltischek, chief strategy officer and head of international at Tilray Brands ( TLRY ).

The company was up 1.8% at last look in US pre-market trading.