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Home / News / Global pharmaceutical giant Novartis teams up with billionaire-backed Canadian marijuana startup

Global pharmaceutical giant Novartis teams up with billionaire-backed Canadian marijuana startup

By Jennifer Kaplan

Novartis AG is partnering with a Canadian cannabis company backed by billionaire Peter Thiel to get in on the medical marijuana business.

The health-care giant’s Sandoz Canada division is forming a strategic alliance with Tilray, which makes cannabis medicines in capsules and other forms. Together, the companies will develop new pot-based medications and Sandoz would distribute them to hospitals and pharmacies.

“The alliance is a major milestone on the long road to legitimizing medical cannabis as conventional medicine,” Tilray Chief Executive Officer Brendan Kennedy said in a statement.

Read more at The Cannabist

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