Shares in Canadian cannabis producer Aphria took a turn upwards over the last couple days following a deal that will see the company supply Shoppers Drug Mart with medical marijuana. The Leamington, Ont.-based grow operation struck a five-year deal with the country’s largest pharmacy chain, which will likely see the drug stores sell dried bud and cannabis-infused oils for patients online.
Shoppers is currently in the process of obtaining a license from Health Canada to distribute medicinal marijuana products. The pharmacy’s ability to sell the products will depend on them finalizing that license.
“Subject to Health Canada’s approval of Shoppers Drug Mart’s application to be a licensed producer, under the terms of the agreement the Company will supply Shoppers Drug Mart with Aphria-branded medical cannabis products,” a release from Aphria stated. “It is expected the products will be sold online, as Canadian regulations currently restrict the sale of medical cannabis in retail pharmacies.”
The province of Ontario unveiled its legalized marijuana plans earlier this year. LCBO-run standalone stores will sell marijuana products by July 1, 2018.
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