CanniMed Therapeutics Inc. (CMED) announced on April 4th that they will supply Pharmasave with an assortment of cannabis products.
The pharmacy community of independent owners that makes Pharmasave consists of over 650 locations. Pharmasave is one of Canada’s largest independent community pharmacies.
This is a familiar move for CanniMed as in December of 2017 they entered into an agreement with PharmaChoice to supply them with medical cannabis products. These products would be distributed by PharmaChoice to over 750 of its locations in Canada.
With the addition of this second deal with Pharmasave it is possible in Q3 of 2018 that CanniMed will be supplying medicinal cannabis products to roughly 1,400 pharmacies.
This news could potentially bring a bigger impact to the value of CMED shares than the 5% drop caused by the announcement of the company’s 2017 financials in January of 2018.