Tilray to Collaborate with Pharma Leader Sandoz

In another step of major industries stepping into the cannabis space, generic pharmaceutical company Sandoz AG will now collaborate with Canadian licensed producer (LP) Tilray (NASDAQ:TLRY) for medical cannabis products.

On Tuesday (December 18), the LP confirmed a new “global framework agreement” with the life science company.

“Sandoz AG will be a valuable partner as we work together to improve access to the highest quality medical cannabis products in countries all over the world,” Brendan Kennedy, CEO of Tilray said.

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Tilray had already formed a relationship with the pharmaceutical world in March when the cannabis venture announced an exclusive collaboration with Sandoz Canada, an affiliate of Sandoz International GmbH.

This is the next step between Tilray and the Canadian division of Sandoz, which itself is part of the Novartis AG (NYSE:NVS) group.

As part of the collaboration, the two companies could work together to commercialize non-smokable medical cannabis products. Sandoz AG may also participate in co-branding these products.

Through the deal, Sandoz AG can obtain medical cannabis products or access to Tilray’s license rights and may participate in the development of new products.

“Both companies may also partner to leverage best-in-class knowledge to educate pharmacists and physicians about medical cannabis products,” Tilray added.

Shares of Tilray shot up 16.10 percent on Tuesday’s trading session, while during after hours trading the company was up just over one percent. Tilray closed at a price of US$ 76.50 per share.

The pharmaceutical industry has been at the forefront of predicted markets set to want partnerships in the cannabis space due to the medical aspect.

Dena Jalbert, founder and CEO of Align Business Advisory Services, previously told the Investing News Network (INN) she expects more deals where a larger player steps into cannabis to be based on intellectual property (IP) rather than a full buyout.

Don’t forget to follow us @INN_Cannabis for real-time news updates!

Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.

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