Tilray Brands’ pharmaceutical arm, CC Pharma, announced a new partnership with UK‑based Smartway Pharmaceuticals on February 12, 2026. The deal will extend CC Pharma’s European procurement and GMP‑certified manufacturing into the United Kingdom by leveraging Smartway’s national distribution network.
The agreement builds on a long‑standing relationship that began in 2009 and follows Tilray’s earlier UK activity, including a 2021 distribution agreement with Grow Pharma. The UK pharmaceutical market for medicinal cannabis and related products is estimated at nearly £1 billion, making the partnership a significant step in Tilray’s international medical strategy.
By combining Smartway’s established pharmacy and hospital channels with CC Pharma’s procurement expertise, Tilray aims to improve supply reliability and broaden patient access to its medicinal cannabis portfolio. The partnership also positions Tilray to embed itself more deeply in the UK health system, a priority market identified by the company’s international leadership.
Management highlighted the strategic value of the deal. President of International, Rajnish Ohri, said the UK is a priority market and the 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.” Mathias Bossen, Managing Director of CC Pharma, added that the partnership “represents an important step forward in expanding our pharmaceutical distribution activities into the UK” and will “enhance supply reliability and support pharmacy and hospital partners with high‑quality PI product lines.” Josh Cocklin, Chief Executive of Smartway, noted that the deal “supports continuity and expansion of access to medicines across UK healthcare, meaning fewer interruptions and more predictable access to care.”
Tilray’s recent financial performance provides context for the partnership’s importance. The company reported a net loss of $1.267 billion in Q4 2025 and a net loss of $2.181 billion for fiscal year 2025, largely due to non‑cash impairment charges. In contrast, Q1 FY2026 saw a net income of $1.5 million on record revenue of $210 million, with consolidated gross margins falling to 27% from 30% year‑over‑year. Segment analysis shows growth in Canadian and international cannabis and distribution, while the beverage segment has seen declines.
The Smartway partnership is expected to support Tilray’s revenue growth and help mitigate margin compression by improving distribution efficiency and expanding market reach. While the company remains in a loss‑making phase, the deal signals a strategic push to strengthen its competitive position in the UK and broader European pharmaceutical market, aligning with Tilray’s long‑term growth objectives.
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