TORONTO — Tilray Inc. shares jumped Tuesday after the B.C.-based company took another step to strengthen its medical marijuana business outside Canada through a new collaboration with Novartis pharmaceutical group’s Sandoz AG.
“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,” Tilray chief executive Brendan Kennedy said Tuesday.
Under its original agreement, announced in January 2018 after several months of talks, the companies began shipping non-combustible medical products with the Tilray and Sandoz/Novartis brands to customers in Canada last June.
The new global arrangement allows Tilray to use the Sandoz supply chain, sales force and global distribution network to distribute Tilray medical cannabis products, Kennedy said.
The number of countries that have legalized medical cannabis has more than doubled to 35 from 15 in 2010, when Kennedy got into the business.
“It’s very clear