Licensed Producers

Coming soon to a pharmacy near you: CanniMed signs deal with PharmaChoice to distribute medical marijuana

April 7, 2017 Facebook Twitter LinkedIn Google+ News

Medical marijuana producer CanniMed Therapeutics Inc. is getting a head start on distributing cannabis through pharmacies, becoming the first licensed producer to sign an agreement with a national pharmacy chain, even though the model is still illegal.

CanniMed announced Thursday it has signed a letter of intent with PharmaChoice, a member-owned cooperative, that gives CanniMed exclusive distribution privileges at PharmaChoice stores in exchange for CanniMed’s provision of training. Educational training will start soon, but the distribution agreement is on hold indefinitely. It will be completed within 60 days of the first legislation change that allows for pharmacy distribution of marijuana. 

Currently, mail order is the only legal distribution method for medical marijuana but a federal task force report on the legalization of marijuana recommended the government also consider allowing sales at storefront locations. Legislation on marijuana reform, including a legal recreational market, is expected this year. Provincial laws would also need to be changed to allow for pharmacy distribution.

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CANADIAN MARIJUANA STOCK RISES ABRUPTLY

April 6, 2017 Facebook Twitter LinkedIn Google+ News

Its introduction into the House of Commons is expected to be viewed as a further stock industry catalyst. It is believed legislation will add momentum to the stock spike. The news of coming legislation gave a prominent, sector-wide boost to Canadian medical marijuana stocks, such as “Aurora Cannabis Inc”. Its stocks jumped nine percent on Monday to $2.48 per share.

Executive Vice-President of “Aurora Cannabis Inc.”, Cam Battley, has stated that sector growth such as this, will also open up opportunities for other businesses that are affected either directly or indirectly. Such companies would include those in the areas of research and information technology.

“Aurora Cannabis Inc”, which had one of the biggest stock boosts is Alberta-based and is building a state-of-the-art facility at the Edmonton Airport, stretching to approximately the size of 16 football fields.

Canada’s largest marijuana company, “Canopy Growth Corp”, also jumped nine percent to $10.84, while lesser known companies, like “Organigram Holdings Inc.”, managed to come up with an increase to $2.42 per share, after trading on the Toronto Stock Exchange on Monday.

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