NANAIMO, B.C.– Tilray Canada Ltd., a subsidiary of Tilray Inc. (NASDAQ: TLRY), a global pioneer in the production, research, and distribution of medical cannabis, announced today that it entered into a global framework agreement (the “Framework Agreement”) to collaborate with Sandoz AG, a global leader in generic pharmaceuticals and biosimilars and a part of Novartis group, to increase availability of high quality medical cannabis products across the world.
An evolution of an existing alliance between Tilray and Sandoz Canada, the Framework Agreement represents the intentions of the two companies to jointly operate in jurisdictions where cannabis is or will be approved for medical purposes.
Tilray, a global pioneer of medical cannabis, has products available in twelve countries and operations in Australia & New Zealand, Canada, Germany, Latin America, and Portugal. 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. Tilray was the first licensed medical cannabis producer in North America to obtain current Good Manufacturing Practice (cGMP) certification in accordance with the European Medicines Agency’s (EMA) standards.
“This agreement represents a major milestone in the movement to provide access to safe, GMP-certified medical cannabis to patients in need across the world,” says Brendan Kennedy, Tilray Chief Executive Officer. “Tilray is a global company and we’re thrilled to build upon the success and momentum from our existing agreement with Sandoz Canada by taking our partnership global. Sandoz AG will be a valuable partner as we work together to improve access to the highest quality medical cannabis products in countries all over the world.”
The Framework Agreement outlines the opportunity for the companies to agree to collaborate in different forms:
Sandoz AG may support the global commercialization of Tilray’s non-smokable/non-combustible medical cannabis products;
Tilray and Sandoz AG may co-brand certain non-smokable/non-combustible products;
Tilray may supply non-smokable/ non-combustible medical cannabis products and license rights to and from Sandoz AG in relation to such products; Both companies may also partner to leverage best-in-class knowledge to educate pharmacists and physicians about medical cannabis products;
Tilray and Sandoz AG may collaborate to develop new innovative medical cannabis products.