Medical hashish firm Cannabit-Tikun Olam is partnering with pharmaceutical agency Teva Israel to supply hashish merchandise that will likely be distributed in Israel, Palestine, and ultimately Ukraine. Teva stated the merchandise will likely be produced in response to the corporate’s “directions and stringent requirements” underneath the 10-year collaboration.
Yossi Ofek, CEO of Teva, stated Israel’s medical hashish market is “creating and being professionalized at a dizzying tempo” and “there may be extra openness to it in Israel and worldwide.”
“At this time, it’s clear to many within the pharmaceutical trade and within the medical neighborhood that use of oils produced from particular hashish strains might present further remedy choices and reply to unmet medical wants of sufferers.” — Ofek in a press release
Cannabit-Tikun Olam Common Supervisor Avinoam Sapir has beforehand served as Teva Israel CEO from 2013 and later as cluster head for Africa, the Center East, and Ukraine, by 2020.
“I consider that this is without doubt one of the most necessary agreements concluded within the trade in recent times in Israel and that it’s going to place Cannbit-Tikun Olam and Teva Israel as main gamers within the ever-growing and creating medical hashish market in Israel and past,” he stated in a press release.
The oils produced as a part of the collaboration are based mostly on strains developed by Cannbit-Tikun Olam and chosen by Teva as a consequence of their security profile and powerful therapeutic efficacy, the businesses stated.
The deal features a provision permitting a 9-year extension to the partnership.
Earlier this 12 months, Tikun Olam introduced a partnership with Ambrosia-SupHerb to supply and market dietary dietary supplements based mostly on hashish and mushrooms.
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