Tilray, a licensed producer of medical cannabis, 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.