Pharma giant Teva Pharmaceutical Industries will enter into the medical cannabis sector after subsidiary Salomon, Levin, Elstein (S.L.E.) signed a distribution agreement with Israeli therapeutic company Canndoc.
Under the deal announced Friday, S.L.E. will distribute Canndoc’s GMP-approved products to pharma clients in Israel, including hospitals, health maintenance organizations (HMOs) and pharmacies.
At a later stage, depending on regulatory approval enabling Israeli medical cannabis S.L.E. will provide logistics capability for exporting Canndoc’s products to countries enabling the sale and distribution of medical cannabis products.
The initial distribution deal covers a period of three years, but includes a mechanism to automatically extend the deal by two years on each occasion.
Read more at jpost.com
