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Tilray, Novartis unit to jointly distribute medical cannabis worldwide

Tilray Inc., a Canadian cannabis company, has entered an agreement with Novartis AG's Swiss generics and biosimilars unit Sandoz AG to increase the availability of medical cannabis worldwide, as of Dec. 18.

The global collaboration agreement, which will focus on the commercialization and distribution of Tilray's non-smokable and non-combustible medical cannabis products, expands on a previous partnership between Tilray and Sandoz Canada Inc. to co-market products in Canada.

Under the new partnership, Tilray and Sandoz AG will jointly distribute medical cannabis in regions where the substance is approved for medical use. The companies may co-brand products and jointly develop new products as well.

Nanaimo, British Columbia-based Tilray, which now trades on the Nasdaq Global Select Market, currently has products available in 12 countries. In addition to producing medical marijuana, Tilray plans to provide cannabis products for Canada's adult recreational use market.