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The agreement is expected to have a positive material impact on Aphria’s medical sales revenue, said Aphria CEO Vic Neufeld during a conference call with analysts shortly after the news was announced.

“We have an opportunity to grow as Shoppers Drug Mart grows,” he said, adding Aphria’s committed to not entering discussions or making any business transactions with other national pharmacy banners in excess of a certain size.

If the federal government changes the rules to allow pharmacies to dispense medical marijuana in stores, Neufeld said, “the home run turns into a grand slam.”

The company’s stock closed nearly two per cent higher on the Toronto Stock Exchange on Monday. It gained 22 cents to $11.62.

Aphria is one of several voices advocating for pharmacies to be permitted to distribute medical cannabis.

Loblaw has previously said it believes pharmacists and pharmacies should play a role in medical marijuana distribution, and posted a job ad for a medical marijuana brand manager as Shoppers Drug Mart last month.

“We have been very transparent in our view,” said Catherine Thomas, a spokeswoman, in an email.

“As the federal and provincial governments finalize their respective cannabis frameworks, we remain optimistic that they will allow pharmacists in stores, in communities to apply their professional care to medical cannabis patients.”

The Aphria deal is one of several recent agreements between marijuana producers and pharmacies.