British Columbia-based Tilray reached an settlement with a subsidiary of Swiss pharmaceutical big Novartis AG during which the Canadian firm’s medical marijuana will ultimately be produced and distributed in nations the place MMJ is authorized.
Tilray’s deal with Quebec-based Sandoz AG is an extension of a letter of intent the businesses signed in March to supply co-branded, nonsmokable and noncombustible cannabis-based medical merchandise resembling sprays, patches and gel caps.
According to Bloomberg, Tilray and Sandoz additionally maintain a joint membership in a gaggle referred to as the Common Initiative, which is pushing Canadian officers to maneuver away from mail-only distribution of medical cannabis and permit it to be bought in pharmacies.
When Tilray’s preliminary collaboration with Sandoz was introduced, it was believed to be the primary recognized affiliation between a Canadian marijuana producer and a serious pharmaceutical firm.
More particulars on the Tilray-Sandoz association could be discovered right here.
– Associated Press