Another Canadian medical marijuana producer inks pharmacy deal

CanniMed Therapeutics has entered into a definitive agreement with PharmaChoice to supply medical cannabis products to its 750 pharmacy locations across Canada.

It’s the second time this week a licensed marijuana producer and a major pharmacy chain have joined forces on medical cannabis, following a partnership between Aphria and Shoppers Drug Mart.

However, CanniMed’s deal with PharmaChoice is conditional on Health Canada’s approval of MMJ product distribution through pharmacies — a move that’s still far from certain.

PharmaChoice has committed exclusively to CanniMed as its sole supplier of medical cannabis products, the companies said in a news release, subject to CanniMed meeting product and volume requirements.

The companies declined to specify the volume requirements or financial conditions of the deal.

CanniMed, based in Saskatoon, Saskatchewan, is traded on the Toronto Stock Exchange under the symbol CMED.

PharmaChoice is a member-owned cooperative of pharmacies headquartered in Dartmouth, Nova Scotia, and Saskatoon.

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