A subsidiary of multinational pharmaceutical large Teva Prescription drugs signed a take care of Israeli medical marijuana firm Canndoc to distribute its merchandise to pharma prospects that embody pharmacies and hospitals.
Whereas the deal isn’t solely for merchandise in Israel, it would begin there and transfer to different international locations as soon as it turns into logistically authorized to take action, in response to a Canndoc information launch distributed Friday.
Israel’s medical marijuana market has roughly 46,000 sufferers.
Teva’s Israeli subsidiary Salomon, Levin, Elstein (SLE) agreed to work with Canndoc, whose chair is former Israeli Prime Minister Ehud Barak.
The preliminary settlement will span for 3 years and will be prolonged in two-year durations after that.
Information of the transaction was first reported by Forbes.
Teva, primarily based in Petach Tikva, Israel, trades on the New York Trade beneath the ticker image TEVA.
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