(This is a developing story that will be updated.)
Major Canadian pharmacy chain Shoppers Drug Mart is offloading its 4-year-old medical cannabis distribution business to another company, marking its exit from the marijuana industry.
Shoppers, a division of Canada’s biggest grocer Loblaw Cos., said Tuesday it was “transitioning” its Medical Cannabis by Shoppers business to biopharmaceutical operator Avicanna.
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Financial terms of that deal were not disclosed.
Shoppers launched the MMJ distribution business in January 2019.
“As we move away from medical cannabis distribution, we remain firm in our belief that this medication should be dispensed in pharmacies like all others and will continue our advocacy to that end,” Shoppers President Jeff Leger said in a news release.
The release did not explicitly state why Shoppers decided to pull the plug on its medical cannabis operations.
MJBizDaily asked Loblaw to comment on the reasons behind the move.
Read full article on Marijuana Business Daily