Tilray signs global collaboration agreement with Sandoz

Tilray Canada, a subsidiary of Tilray (TLRY), announced that it entered into a global framework agreement to collaborate with Sandoz, a part of Novartis (NVS) 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 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 certification in accordance with the European Medicines Agency’s standards. 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.
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