Canadian medical cannabis producer Tilray has signed a letter of intent with independent pharmacy Pharmasave as a distributor of Tilray-branded medical cannabis products. Pharmasave is a member-governed cooperative of more than 650 independently owned pharmacies throughout Canada.
Today’s announcement puts us in a strong position to expand the availability of our products to additional patients in need throughout Canada. It’s exciting that we have the potential to bring our medical cannabis products to patients via pharmacies in Canada with a partner like Pharmasave, a company that shares our commitment to patient safety and access.” – Brendan Kennedy, Tilray CEO, in a press release
Kennedy noted that the company’s products are available in pharmacies in 10 countries but not yet available in Canadian pharmacies.
In January, Tilray struck a deal with Shoppers Drug Mart, Canada’s largest provider of pharmaceutical products and services. Shoppers Drug Mart also has deals with Aphria and MedReLeaf; however, Shoppers Drug Mart’s parent company, Loblaw Companies Ltd., is still waiting for approval of its medical cannabis application from Health Canada.
Earlier this week, Tilray announced a partnership with Novartis International AG to develop and distribute non-smokable medical cannabis products. Novartis is the fourth largest pharmaceutical company in the world by revenue.