NANAIMO, British Columbia-Wednesday 19 December 2018 [ AETOS Wire ]
(BUSINESS
WIRE)-- Tilray Canada Ltd., a subsidiary of Tilray Inc. (NASDAQ: TLRY),
a global pioneer in the production, research, and distribution of
medical cannabis, announced today that it entered into a global
framework agreement (the “Framework Agreement”) to collaborate with
Sandoz AG, a global leader in generic pharmaceuticals and biosimilars
and a part of Novartis 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,
a global pioneer of medical cannabis, 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 (cGMP)
certification in accordance with the European Medicines Agency’s (EMA)
standards.
“This
agreement represents a major milestone in the movement to provide
access to safe, GMP-certified medical cannabis to patients in need
across the world,” says Brendan Kennedy, Tilray Chief Executive Officer.
“Tilray is a global company and we’re thrilled to build upon the
success and momentum from our existing agreement with Sandoz Canada by
taking our partnership global. 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.”
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.
About Tilray®
Tilray
is a global pioneer in the research, cultivation, production and
distribution of medical cannabis and cannabinoids currently serving tens
of thousands of patients in twelve countries spanning five continents.
This
press release contains “forward-looking statements” within the meaning
of the U.S. Private Securities Litigation Reform Act of 1995 and
“forward-looking information” within the meaning of Canadian securities
laws, or collectively, forward-looking statements. Forward-looking
statements in this press release may be identified by the use of words
such as, “may”, “would”, “could”, “will”, “likely”, “expect”,
“anticipate”, “believe, “intend”, “plan”, “forecast”, “project”,
“estimate”, “outlook” and other similar expressions and include
statements relating to the global success of the Tilray and Sandoz AG
collaboration. Forward-looking statements are not a guarantee of future
performance and are based upon a number of estimates and assumptions of
management in light of management’s experience and perception of trends,
current conditions and expected developments, as well as other factors
that management believes to be relevant and reasonable in the
circumstances, including assumptions in respect of current and future
market conditions, the current and future regulatory environment and
future approvals and permits. Actual results, performance or achievement
could differ materially from that expressed in, or implied by, any
forward-looking statements in this press release, and, accordingly, you
should not place undue reliance on any such forward-looking statements
and they are not guarantees of future results. Forward-looking
statements involve significant risks, assumptions, uncertainties and
other factors that may cause actual future results or anticipated events
to differ materially from those expressed or implied in any
forward-looking statements. Please see the heading “Risk Factors” in
Tilray’s Quarterly Report on Form 10-Q, which was filed with the
Securities and Exchange Commission and Canadian securities regulators on
November 14, 2018, for a discussion of the material risk factors that
could cause actual results to differ materially from the forward-looking
information. Tilray does not undertake to update any forward-looking
statements that are included herein, except in accordance with
applicable securities laws.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181218005141/en/
Contacts
Media: Chrissy Roebuck, news@tilray.com, 1-833-206-8161
Investors: Katie Turner, +1-646-277-1228, Katie.turner@icrinc.com
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