Pharmadrug has provided an update on developments from Israel's Ministry of Health regarding the export law on medical cannabis passed in January of 2019. It was revealed late last week that the Israeli Ministry of Health will soon be publishing its cannabis export guidelines, which will enable the commencement of exports to international markets, most notably Germany and other European Countries. In a statement to the Israeli High Court, the Ministry said, "For the Ministry of Health, any business that meets the standard for local production and marketing will be able market its products abroad."
"Pharmadrug has signed a multi-year supply agreement with My Greenfields, a nursery and cultivation license holder in Israel," the team with the company explains. "Under the terms of the agreement, My Greenfields will provide Pharmadrug with up to 2,000 kg of medical cannabis per annum for the German and European markets."
Daniel Cohen, Pharmadrug's CEO, commented, "We are pleased to see the Ministry committed to opening the corridor for medical cannabis exports in a timely manner. We remain confident that the new law will take effect sometime early in 2020. While the majority of Israel's cannabis production is done in greenhouses, My Greenfields has nearly completed one of the country's only indoor growing facilities and we are confident the product will yield a premium over Israeli greenhouse grown cannabis."