Canadian marijuana producer Aphria Inc. (APHQF) announced on Monday that it has reached a partnership agreement with Canadian pharmacy chain Shoppers Drug Mart outlet to become their exclusive provider of medical marijuana.
During this five-year deal, Aphria will provide the pharmacy chain its branded strains of dried marijuana in two different sizes as well as four cannabis oils. Although the deal has been sealed, approval from Health Canada is required as the reviewal of Shoppers Drug Mart’s application to become a licensed marijuana retailer.
Aphria’s CEO, Vic Neufeld, is a firm believer that the collaboration will be greatly beneficial for both parties. “We have an impeccable record cultivating and producing high-quality, medical-grade cannabis,” said Neufeld, adding, “These traits make us a strong partner for an organization looking to serve and support Canadian patients and we have an opportunity to grow as Shoppers Drug Mart grows”
The chain’s parent company, Loblaw Companies Ltd., applied for a license last October and is still waiting for a green light. Once approved, keep in mind that medicinal marijuana sales through Shopper’s Drug Marts would have to be placed online. Canada’s current federal regulations only permit licensed pharmaceutical providers to distribute their marijuana products via mail.
Catherine Thomas, a spokeswoman for Loblaw, stated that “As the federal and provincial governments finalize their respective cannabis frameworks, we remain optimistic that they will allow pharmacists in stores, in communities to apply their professional care to medical cannabis patients”.
Although, this is just the beginning of a budding partnership; the deal has already generated dividends for Aphria as the marijuana stock closed nearly two percent higher on the Toronto Stock Exchange on Monday. If there are changes in the regulations permitting pharmacies to dispense medical marijuana in the stores, this deal will be an extremely profitable investment.
“The home run turns into a grand slam,” Neufeld exclaimed.
MAPH Enterprises, LLC | (305) 414-0128 | 1501 Venera Ave, Coral Gables, FL 33146 | new@marijuanastocks.com
1 comment
I’m invested in Various cannabis companies. Several are in Canada. Is there anyway to get a list of Ticker symbols for cannabis companies in the state of California? I’ve tried doing this on line through Google and various marijuana search sites, Unfortunately it’s limited.