Tilray has signed a global partnership with a division of Swiss drug giant Novartis to develop and distribute its medical marijuana in legal jurisdictions around the world.
The Canadian pot firm said Tuesday it’s reached an agreement with Sandoz to boost the availability of medical cannabis products globally, building on an existing alliance with Sandoz Canada. The two companies will work together to commercialize Tilray’s non-smokable medical marijuana offerings, co-brand certain products, develop new products and educate pharmacists and physicians about pot.
Tilray jumped 12 percent in New York to $73.70. Novartis fell 1.3 percent in Switzerland.