AMP Alternative Medical Products Inc. (Frankfurt: C4TA) CA XCX revealed Monday it has been chosen as an exclusive marketing partner for all Aphria branded products imported or cultivated in Germany. Aphria is a medical cannabis brand owned by a Canadian cannabis giant Tilray, Inc. (NASDAQ: TLRY), and AMP is a pharmaceutical supplier of medical and CBD therapeutic products to German pharmacies based in Erfurt and Berlin.
The new collaboration is established on a supply and marketing agreement with CC Pharma GmbH, a wholly-owned subsidiary of Tilray.
AMP highlighted the agreement makes a milestone for the company enabling it to offer a full portfolio of medical marijuana products for doctors to prescribe to their patients. The company’s catalog of Aphria-branded medical products counts Aphria cannabis flowers and extracts with different THC and CBD contents.
In July, Tilray already started to grow and distributed to pharmacies Aphria medical cannabis flower grown in Germany on behalf of BfArM. The Toronto-based company already reaches 13,000 pharmacies in Germany with its products.
Furthermore, the two companies plan to organize continuing education seminars for doctors pharmacists and other healthcare specialists involved in the prescription fulfillment of medical cannabis.
"Doctors are becoming increasingly familiar with the Aphria medical cannabis brand as it is the only German cultivated medical cannabis flower currently available for patients due to Tilray's commitment to supply Germany with the highest-quality domestically cultivated and imported medical cannabis products for German patients," Dr. Stefan Feuerstein, president and director of AMP stated. "Tilray entrusted AMP as its sole marketing partner for the Aphria medical cannabis brand due to our commitment to training to develop a knowledgable sales team covering major cities but also the small towns and rural regions ensuring that all German patients have access to this medicine as it becomes more commonly prescribed by doctors."
Price Action
Tilray’s shares were trading 1.72% lower at $12.01 per share at the time of writing Tuesday morning.
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