Tilray® Forms Strategic Alliance with Leading Pharmaceutical Company in Canada
Agreement represents major milestone recognizing medical cannabis as a conventional medicine for patients in need
TORONTO, ON– Tilray, a federally licensed producer of medical cannabis, announced today that it has signed a binding letter of intent (LOI) to be the exclusive collaborator of a major pharmaceutical company to accelerate innovation and increase availability of high quality medical cannabis products. Through this LOI and the anticipated definitive agreements, Tilray is allied with Sandoz Canada Inc. (Sandoz Canada), an affiliate of Sandoz International GmbH, a global leader in generic pharmaceuticals and biosimilars and part of the Novartis Group.
This strategic alliance represents another major milestone in the recognition of medical cannabis and cannabinoids as conventional medicine. Tilray is a global pioneer in medical cannabis research, production and distribution, and was the first medical cannabis company to obtain current Good Manufacturing Practice (cGMP) certification in accordance with the European Medicines Agency’s (EMA) standards. Tilray currently supplies tens of thousands of patients with high-quality, cGMP-certified products in ten countries spanning five continents.
This agreement builds on Tilray’s pioneering track-record as a company committed to making pharmaceutical-grade medical cannabis products available to patients in need. In addition to the agreement with Sandoz Canada, Tilray has formed strategic partnerships with NOWEDA, one of Germany’s largest pharmaceutical distributors, which distributes Tilray products to more than 20,000 pharmacies across Germany, and Shoppers Drug Mart, Canada’s largest pharmacy chain.
“This agreement is a major milestone on the long road to legitimizing medical cannabis as conventional medicine,” said Brendan Kennedy, Tilray Chief Executive Officer. “Tilray is pleased to be, what we believe is, the first federally licensed producer of medical cannabis to form a strategic alliance with a local affiliate of a global pharmaceutical company to improve the availability and quality of medical cannabis products for Canadian patients in need.”
Pending necessary regulatory approvals and execution of the definitive agreements:
· Tilray will leverage Sandoz Canada’s best-in-class knowledge to educate Canadian pharmacists and physicians about Tilray medical cannabis products;
· Tilray will become the exclusive partner of Sandoz with respect to non-smokable/ non-combustible medical cannabis products;
· Tilray will partner with Sandoz to develop new and innovative medical cannabis products that offer an alternative to smokable/ combustible products;
· And subject to future regulatory changes, Sandoz Canada, known for its supply reliability, will wholesale and distribute non-smokable/ non-combustible Tilray products to Canadian hospitals and pharmacies.