Tilray® Signs Global Collaboration Agreement with Leading Pharmaceutical Company
December 18 2018 - 8:30AM
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/
Media: Chrissy Roebuck, news@tilray.com,
1-833-206-8161Investors: Katie Turner, +1-646-277-1228,
Katie.turner@icrinc.com
Tolerrx (NASDAQ:TLRX)
Historical Stock Chart
From Apr 2024 to May 2024
Tolerrx (NASDAQ:TLRX)
Historical Stock Chart
From May 2023 to May 2024