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