Tilray has signed a binding letter of intent (LoI) with Sandoz Canada to advance the development and commercialisation of medical cannabis products in the country.
Sandoz is a division of the Novartis Group and focuses on generic pharmaceuticals and biosimilars.
Pending regulatory approvals and execution of the definitive agreements, Tilray will partner with Sandoz to develop new products to replace the existing smokable / combustible products.
Tilray will also use Sandoz’s expertise to educate pharmacists and physicians about its medical cannabis products.
Sandoz Canada has agreed to wholesale and distribute Tilray’s non-smokable / non-combustible products to hospitals and pharmacies in the country.
Tilray CEO Brendan Kennedy said: “This agreement is a major milestone on the long road to legitimising medical cannabis as conventional medicine.
“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.”
The company carries expertise on medical cannabis research, production and distribution and currently caters to numerous patients across ten countries.
Tilray has also collaborated with German pharmaceutical distributor NOWEDA to sell its products in more than 20,000 pharmacies in the country, as well as Canada-based pharmacy chain Shoppers Drug Mart.