Ontario-based medical cannabis producer Aphria Inc. (TSX: APH) (OTC: APHQF) announced it will supply medical cannabis to Toronto-based Shoppers Drug Mart (SDM), pending approval of Shoppers Drug Mart’s license. Shoppers Drug Mart has more than 1,300 stores in nine Canadian provinces and two territories, and owns Pharmaprix in Quebec.
Aphria will supply SDM with Aphria-branded products. The products will likely be sold online, since Canadian regulations currently restrict the sale of medical cannabis in retail pharmacies.
Aphria Inc. is one of Canada’s lowest cost medical cannabis producers. It provides pharma-grade medical cannabis, and patient care.
Over the last three months, Aphria stock has nearly doubled from $4.88 to $9.17, and year to date is up 144%. The company had net income in fiscal 2017 of $4 million and currently has a P/E of 81 on sales of $20 million.
Source: Aphria Press release