Tilray Expands UK Pharmaceutical Access Through Strategic Agreement with Smartway Pharmaceuticals

Rhea-AI Summary

Tilray (Nasdaq: TLRY) announced that CC Pharma has signed a strategic agreement with Smartway Pharmaceuticals to expand parallel import and specialist pharmaceutical supply across the United Kingdom, leveraging Smartway’s national distribution network and CC Pharma’s European procurement and GMP capacity.

The deal targets improved supply reliability for pharmacies and hospitals and supports Tilray’s broader European medical expansion and future access for its medicinal cannabis products.

News Market Reaction

-1.71%

1 alert

-1.71% News Effect

On the day this news was published, TLRY declined 1.71%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

UK pharma category size: £1 billion Quarterly net revenue: $217.5 million Quarterly net loss: $43.5 million +5 more

8 metrics

UK pharma category size £1 billion Estimated size of relevant UK pharmaceutical market mentioned in article

Quarterly net revenue $217.5 million Quarter ended Nov 30, 2025; up from $211.0 million year prior

Quarterly net loss $43.5 million Quarter ended Nov 30, 2025; improved from $85.3 million loss

Cash & equivalents $246.7 million Balance at quarter end Nov 30, 2025

Long-term debt $155.6 million Long-term debt (net of fees) at quarter end Nov 30, 2025

Convertible debentures $86.3 million Convertible debentures outstanding at quarter end Nov 30, 2025

ATM program capacity $51,597,980 Forward ATM common stock offering under S-3ASR filed Oct 9, 2025

Shares outstanding 116.5 million Common shares outstanding as of Jan 6, 2026, post reverse split

Market Reality Check

Price: $7.51 Vol: Volume 2,469,781 is at 0....

low vol

$7.51 Last Close

Volume Volume 2,469,781 is at 0.67x the 20-day average, indicating subdued trading ahead of this news. low

Technical Shares at $7.62 are trading below the 200-day MA ($9.11) and sit 67.16% under the 52-week high.

Peers on Argus

Peers show mixed, low-magnitude moves (e.g., AMPH -0.10%, DVAX +0.06%, PCRX +2.1...

Peers show mixed, low-magnitude moves (e.g., AMPH -0.10%, DVAX +0.06%, PCRX +2.16%), suggesting TLRY’s setup is company-specific rather than a broad sector rotation.

Previous Partnership Reports

5 past events · Latest: Sep 04 (Positive)

Same Type Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Sep 04	Brand partnership launch	Positive	-3.0%	New Denver Broncos co-branded spirits lineup from Breckenridge Distillery.
Aug 13	Medical partnership Italy	Positive	+31.5%	Italian pharma partner to expand access to medical cannabis extracts.
Apr 24	Sustainability partnership	Positive	+11.8%	Terraprint and Orvis collaboration linking craft beer and conservation.
Mar 20	Co-branded product	Positive	+1.0%	SweetWater and Georgia Aquarium limited-edition aquarium-themed OG IPA cans.
Feb 05	Airline distribution deal	Positive	+7.0%	Montauk Brewing beer added across JetBlue’s domestic and international flights.

Pattern Detected

Partnership headlines have generally been viewed positively, with 4 of 5 past partnership announcements seeing same-direction price moves and an average move of 9.67%.

Recent Company History

Over the past year, Tilray has leaned on partnership-driven growth across brands and geographies. Deals ranged from medical cannabis access in Italy to craft beer collaborations and sports tie-ins, often producing notable price swings, with an average move of 9.67% on partnership news. The current UK distribution agreement for CC Pharma fits this pattern of using third-party platforms to extend reach in key markets, particularly in regulated healthcare channels.

Historical Comparison

+9.7% avg move · In the past year, TLRY issued 5 partnership announcements, averaging a 9.67% move. This UK pharma ag...

partnership

+9.7%

Average Historical Move partnership

In the past year, TLRY issued 5 partnership announcements, averaging a 9.67% move. This UK pharma agreement fits that strategy of using partners to extend branded and medical reach.

Partnerships have expanded from branded beverages and sports tie-ins to medical cannabis access in Europe, showing a progression toward deeper integration in regulated healthcare and international distribution.

Regulatory & Risk Context

Active S-3 Shelf · $51,597,980

Shelf Active

Active S-3 Shelf Registration 2025-10-09

$51,597,980 registered capacity

An effective S-3ASR filing from Oct 9, 2025 includes a forward ATM program to sell up to $51,597,980 of common stock, plus additional registered securities, providing flexibility to raise capital over time.

Market Pulse Summary

This announcement extends Tilray’s medical footprint by linking CC Pharma’s EU procurement and GMP c...

Analysis

This announcement extends Tilray’s medical footprint by linking CC Pharma’s EU procurement and GMP capacity with Smartway’s UK distribution network in a category estimated at nearly £1 billion. It complements prior partnerships that grew European medical access and branded products. Investors may track execution in UK pharmacy and hospital channels, ongoing progress in reducing the quarterly $43.5 million net loss, and any utilization of the $51,597,980 ATM program registered under the S-3ASR.

Key Terms

parallel import, gmp, reverse stock split, atm program, +4 more

8 terms

parallel import technical

"support the expansion of parallel import and specialist pharmaceutical supply in the UK"

Parallel import is the cross-border resale of genuine, legally manufactured products originally meant for one market, brought into another country without the manufacturer’s permission to take advantage of price differences. For investors, it can lower a company’s local sales and margins, create supply and pricing uncertainty, and raise regulatory or brand-control issues—think of someone buying the same brand-name item cheaper abroad and reselling it at home.

gmp technical

"CC Pharma’s European procurement capability and GMP capacity, marking a notable advancement"

Good Manufacturing Practice (GMP) is a set of regulatory standards and procedures that ensure products—especially medicines, medical devices, and related goods—are consistently made to meet safety, quality, and purity requirements. For investors, GMP compliance is like a factory’s hygiene and checklist system: it reduces the risk of product recalls, regulatory fines, and production stoppages, supports market access, and signals more reliable, lower-risk operations that can protect revenue and reputation.

reverse stock split financial

"During the period, Tilray completed a one-for-ten reverse stock split"

A reverse stock split is when a company reduces the number of its shares outstanding, making each share more valuable. For example, if you own 100 shares worth $1 each, a 1-for-10 reverse split would turn your 100 shares into 10 shares worth $10 each. Companies often do this to boost their stock price and appear more stable to investors.

atm program financial

"including a forward ATM program to offer up to $51,597,980 of common stock"

An ATM program is a plan or arrangement that allows a company to sell its shares directly to investors over time, often through automated systems like online platforms. It provides a flexible way for companies to raise money gradually without needing a full public offering each time. For investors, it can offer easier access to buying or selling shares and can help companies manage their fundraising more efficiently.

equity distribution agreement financial

"under an Equity Distribution Agreement with TD Securities (USA) LLC and Jefferies LLC"

An equity distribution agreement is a formal plan between a company and financial institutions to sell newly issued shares of the company's stock to investors over a period of time. It helps the company raise money gradually, similar to filling a container with water in stages, rather than all at once. For investors, it provides an organized way to buy shares and can influence the stock's supply and price.

convertible debentures financial

"the company issued TLRY 27 convertible debentures totaling $172,500"

Convertible debentures are loans a company issues that pay interest like a bond but can be swapped later for the company’s shares at a set price. For investors they act like a safety-net plus a shortcut: you get regular interest payments while retaining the option to join ownership if the share price rises, which offers upside potential but can dilute existing shareholders if conversion occurs.

treasury stock financial

"shares issued and outstanding with 3,213,914 shares held as treasury stock"

Treasury stock is shares that a company has bought back from the public and kept in its own control rather than retiring them. Think of it like a company holding its own tickets in a drawer: those shares no longer vote or receive dividends while held, but the company can reissue or retire them later; this reduces the number of shares available to outside investors and can boost per‑share earnings and influence ownership and stock price.

digital assets financial

"purchased 9.16 units of Bitcoin, recording digital assets at fair value"

Digital assets are electronic files or representations of value stored electronically, such as cryptocurrencies, digital tokens, or digital art. They matter to investors because they can be bought, sold, and used for transactions much like physical assets, but exist entirely in digital form, offering new opportunities for investment and financial innovation.

AI-generated analysis. Not financial advice.

CC Pharma Agreement Bolsters Tilray’s UK Growth, Strengthening Distribution to Pharmacy and Hospital Channels

NEW YORK and LONDON, Feb. 12, 2026 (GLOBE NEWSWIRE) -- Tilray Pharma the pharmaceutical division of Tilray Brands, Inc. (Nasdaq: TLRY; TSX: TLRY), today announced that its European pharmaceutical distribution business, CC Pharma, has entered into a strategic agreement with Smartway Pharmaceuticals, a leading UK-based pharmaceutical distribution partner, to expand the availability of pharmaceutical products across the United Kingdom.

Through this agreement, CC Pharma and Smartway will jointly support the expansion of parallel import and specialist pharmaceutical supply in the UK, leveraging Smartway’s established national distribution infrastructure to facilitate the delivery of pharmaceutical products and CC Pharma’s European procurement capability and GMP capacity, marking a notable advancement in Tilray’s comprehensive European medical expansion strategy.

The UK pharmaceutical market is estimated at nearly £1 billion within this category, and this agreement positions Tilray and CC Pharma to work with Smartway to accelerate access, improve supply reliability, and expand reach through trusted healthcare channels.

Rajnish Ohri, President, International, Tilray Brands, stated, “The UK is a priority market within Tilray’s international medical strategy. This agreement strengthens our ability to broaden access to medicinal products through established healthcare distribution channels, while advancing our long-term growth across Europe’s evolving medical landscape. Further, this agreement is expected to embed Tilray into the UK health system for its own medicinal cannabis products”

CC Pharma and Smartway Pharmaceuticals share a longstanding relationship dating back to 2009, built on cross-border pharmaceutical collaboration and trusted supply chain execution. This new agreement represents the next phase of that relationship, aligned with increasing demand for specialized medical distribution services and expanded product availability in the UK.

Mathias Bossen, Managing Director of CC Pharma, added, “This agreement represents an important step forward in expanding our pharmaceutical distribution activities into the UK. By working closely with Smartway and leveraging their strong national network, we are well positioned to enhance supply reliability and support pharmacy and hospital partners with high-quality PI product lines across the UK.”

Josh Cocklin, Chief Executive of Smartway said “Our focus is always on patients and outcomes. By extending what Smartway already does in regulated pharmaceutical supply, this agreement supports continuity and expansion of access to medicines across UK healthcare. For patients and the healthcare practitioners who care for them, this means fewer interruptions and more predictable access to care.”

Both companies will also explore additional opportunities for broader collaboration over time, supporting Tilray’s strategy of building scaled, partnership-led platforms in key international healthcare markets.

About CC Pharma

CC Pharma is a leading pharmaceutical distributor in Germany, serving pharmacies nationwide with a broad portfolio of branded and generic medicines. As part of Tilray Brands, CC Pharma combines local market expertise with the scale, discipline, and strategic resources of a global organization.

For more information on CC Pharma, visit https://www.cc-pharma.de/en/

About Smartway Pharmaceuticals

Smartway Pharmaceuticals is a leading UK-based pharmaceutical distribution and supply chain services group, supporting access to licensed, unlicensed, and specialist medicines across community pharmacy, hospital and private healthcare settings. Smartway has a developing and diversified product portfolio and works with manufacturing and supply partners across the EEA and selected international markets.

In addition to regulated distribution, Smartway supports product licensing pathways and access programmes where appropriate, working with manufacturers to facilitate compliant routes to patient access in complex or constrained supply environments. Operating within established regulatory frameworks, Smartway specialises in managing cross-border pharmaceutical supply chains to ensure continuity and predictability of access to medicines across UK healthcare.

For more information on Smartway Pharmaceuticals, visit the website.

About Tilray Medical
Tilray Medical is dedicated to transforming lives and fostering dignity for patients in need through safe and reliable access to a global portfolio of medical cannabis brands, including Tilray, Aphria, Broken Coast, Symbios and Navcora. Tilray grew from being one of the first companies to become an approved licensed producer of medical cannabis in Canada to building the first GMP-certified cannabis production facilities in Europe, first in Portugal and later in Germany. Today, Tilray Medical is one of the largest suppliers of medical cannabis to patients, physicians, hospitals, pharmacies, researchers, and governments, in 20 countries and across five continents.

For more information on Tilray Medical, visit Tilray Medical Europe, Tilray Medical Canada, and Tilray Medical Australia-New Zealand.

About Tilray Brands

Tilray Brands, Inc. (“Tilray”) (Nasdaq: TLRY; TSX: TLRY), is a leading global lifestyle and consumer packaged goods company with operations in Canada, the United States, Europe, Australia, and Latin America that is leading as a transformative force at the nexus of cannabis, beverage, wellness, and entertainment, elevating lives through moments of connection. Tilray’s mission is to be a leading premium lifestyle company with a house of brands and innovative products that inspire joy and create memorable experiences. Tilray’s unprecedented platform supports over 40 brands in over 20 countries, including comprehensive cannabis offerings, hemp-based foods, and craft beverages.

For more information on how we are elevating lives through moments of connection, visit Tilray.com and follow @Tilray on all social platforms.

Forward-Looking Statements
Certain statements in this communication that are not historical facts constitute forward-looking information or forward-looking statements (together, “forward-looking statements”) under Canadian securities laws and within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be subject to the “safe harbor” created by those sections and other applicable laws. Forward-looking statements can be identified by words such as “forecast,” “future,” “should,” “could,” “enable,” “potential,” “contemplate,” “believe,” “anticipate,” “estimate,” “plan,” “expect,” “intend,” “may,” “project,” “will,” “would” and the negative of these terms or similar expressions, although not all forward-looking statements contain these identifying words. Certain material factors, estimates, goals, projections, or assumptions were used in drawing the conclusions contained in the forward-looking statements throughout this communication, , and such assumptions may prove to be incorrect. Forward-looking statements include statements regarding our intentions, beliefs, projections, outlook, analyses, or current expectations concerning, among other things, the Company’s ability to commercialize new and innovative products worldwide. Many factors could cause actual results, performance, or achievement to be materially different from any forward-looking statements, and other risks and uncertainties not presently known to the Company or that the Company deems immaterial could also cause actual results or events to differ materially from those expressed in the forward-looking statements contained herein. Forward‑looking statements in this communication also include statements regarding the Company’s market positioning, anticipated ability to meet evolving medical cannabis demand in regulated pharmaceutical environments, and expectations concerning the effectiveness of strategic partnerships. For a more detailed discussion of these risks and other factors, see the most recently filed annual information form of Tilray and the Annual Report on Form 10-K (and other periodic reports filed with the SEC) of Tilray made with the SEC and available on EDGAR. The forward-looking statements included in this communication are made as of the date of this communication and the Company does not undertake any obligation to publicly update such forward-looking statements to reflect new information, subsequent events, or otherwise unless required by applicable securities laws.

For further information, please contact:

CC Pharma GmbH – In den Feldern 2 – 54570 Densborn – Germany

Verena Meiers: marketing@cc-pharma.de

Tilray Brands Media: news@tilray.com
Investors: investors@tilray.com

Smartway Pharmaceuticals
10 Lyon Road
London, SW19 2RL
United Kingdom
Email: info@smartwaypharma.co.uk
Telephone: +44 (0) 208 545 7711

FAQ

What did Tilray (TLRY) announce on February 12, 2026 about UK distribution?

Tilray announced a strategic agreement between CC Pharma and Smartway to expand UK pharmaceutical distribution. According to the company, the partnership will use Smartway’s national network and CC Pharma’s European procurement to increase access to specialist and parallel-import medicines across UK pharmacies and hospitals.

How will the CC Pharma and Smartway deal affect access to Tilray medicinal cannabis in the UK?

The agreement is expected to embed Tilray into UK health channels for its medicinal cannabis products. According to the company, this should improve supply reliability and make access more predictable for patients and healthcare practitioners in the UK.

What capabilities do CC Pharma and Smartway each bring to the TLRY UK agreement?

CC Pharma contributes European procurement and GMP capacity while Smartway provides national UK distribution infrastructure. According to the company, combining these capabilities aims to scale parallel-import and specialist pharmaceutical supply to pharmacies and hospitals.

Does the Tilray and Smartway agreement target specific UK healthcare channels?

Yes, the agreement targets pharmacy and hospital channels across the UK. According to the company, the focus is on improving continuity of supply and expanding reach through trusted healthcare distribution partners and established supply chains.

What market opportunity does the Tilray CC Pharma–Smartway deal address in the UK?

The deal targets the UK specialist and parallel-import pharmaceutical segment, estimated near £1 billion in this category. According to the company, the partnership aims to accelerate access and strengthen supply reliability within that market segment.

Will Tilray and Smartway pursue further collaboration beyond the February 12, 2026 agreement?

Both companies will explore broader collaboration opportunities over time. According to the company, the agreement is framed as a next phase of a long-term relationship dating to 2009 and may expand into additional partnership-led platforms.