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Canadian cannabis company Tilray collaborates with pharmaceutical company

Kirk Smol by Kirk Smol
December 27, 2018
in News
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Canadian cannabis company Tilray collaborates with pharmaceutical company

Original article published by High Times.

By Adam Drury

After a successful year collaborating to supply Canada’s medical cannabis market, Tilray, Inc. and Novartis have decided to take their operation global. Both companies already have footprints in multiple countries. But their new arrangement, a re-up of a Jan. 2018 partnership with an international twist, will give Tilray access to part of Novartis’ supply chain, sales force, and global distribution network. With that platform, Tilray plans to distribute non-smokable medical cannabis products to countries around the world.

Tilray, Inc. Expands Global Operations with Novartis Pharmaceutical Group Partnership

Tilray, Inc. is one of Canada’s largest cannabis companies. Tilray Canada, which listed on the Nasdaq exchange this year, is just one of its subsidiaries. The company also has operations in major cannabis exporting countries, including Australia and Germany along with emerging markets like Latin America and Portugal. Under the new agreement Tilray and Novartis announced Tuesday, Tilray Canada will collaborate with Sandoz AG.

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Sandoz AG is a branch of the Novartis pharmaceutical group that manufactures and markets pharmaceuticals. And its supply chain and marketing infrastructure strategically coincide with some of Europe’s largest medical cannabis markets. In that, Tilray recognizes a massive opportunity. Since 2010, 20 more countries have legalized medical cannabis access, bringing to global total to 36.

Germany, for example, a country with a larger population–and much larger economy–than Canada, legalized medical cannabis in 2017. Furthermore, Germany’s medical marijuana laws allow any doctor to write a cannabis prescription for any condition covered under the country’s national health system. Tilray’s CEO Brendan Kennedy has his sights set on such markets. “It’s very clear to me how we go from 35, to 40, to 50, 60 countries globally,” Kennedy told the Canadian press.

Tilray Continues Its Big Week with Pharmaceutical Company Collaboration

Tilray, Inc. is wrapping up an already successful year strongly. On Wednesday, Tilray inked a deal with Belgium-based beverage giant Anheuser-Busch InBev. That partnership will invest $100 million in research and development for cannabis-infused drinks with both THC and CBD. And when Tilray made its debut on the Nasdaq as the first “pure play” cannabis company to list on a U.S. exchange first, it cleared a USD$1.5 billion IPO.

In fact, the company generated so much hype that shares reached as high as USD$300 before crashing back to earth in September. This week, however, Tilray’s agreements with Novartis and AB InBev have pumped its stock. On Friday, TLRY opened trading at $79.96. On Monday, Tilray sat at $64.43 when the opening bell rang.

Tilray, Inc. exports a very limited number of products to the United States. Federal cannabis prohibition in the U.S. continues to cool international investment in state-legal markets. But Trump’s signing of the 2018 Farm Bill yesterday may have changed the calculus. H.R. 2 is a massive piece of legislation. And one of its most substantial changes is amending the Controlled Substances Act to exempt hemp and all of its derivates. With a strong presence in the hemp CBD market in Canada and internationally, Tilray is poised to move swiftly into the U.S. hemp industry. The Farm Bill’s signing provides “an excellent opportunity for Tilray to capitalize on hemp-derived CBD in the U.S.,” Kennedy said.

Kirk Smol

Kirk Smol

Kirk's journey through the digital realm began with lines of code and algorithms dancing in his dreams. Armed with a keyboard and an insatiable curiosity, he embarked on the path of software engineering. However, fate had a smoky twist in store for him. As the ones and zeros swirled around him, Kirk had an epiphany – he realized that he was more interested in the highs and lows of the cannabis industry than debugging lines of code. With a leap of faith that would make a bungee jumper blush, he bid farewell to the world of semicolons and database queries and embraced the intoxicating allure of cannabis journalism. Now, Kirk finds himself navigating a different kind of network, one that's all about buds, trichomes, and terpenes. Armed with a pen that's mightier than a vaporizer and a keen eye for detail, he's on a mission to unravel the mysteries of the green world.

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