Canadian medical cannabis firm Tilray eyes global reach in deal with Novartis subsidiary

British Columbia-based Tilray reached an agreement with a subsidiary of Swiss pharmaceutical giant Novartis AG in which the Canadian firm’s medical marijuana will eventually be produced and distributed in countries where MMJ is legal.

Tilray’s deal with Quebec-based Sandoz AG is an extension of a letter of intent the companies signed in March to produce co-branded, nonsmokable and noncombustible cannabis-based medical products such as sprays, patches and gel caps.

According to Bloomberg, Tilray and Sandoz also hold a joint membership in a group called the Common Initiative, which is pushing Canadian officials to move away from mail-only distribution of medical cannabis and allow it to be sold in pharmacies.

When Tilray’s initial collaboration with Sandoz was announced, it was believed to be the first known affiliation between a Canadian marijuana producer and a major pharmaceutical company.

More details on the Tilray-Sandoz arrangement can be found here.

– Associated Press

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