InterCure (TASE: INCR), announced that subsidiary Canndoc has entered into a strategic distribution agreement with Salomon, Levin, Elstein (S.L.E.,) which is owned by Teva Pharmaceuticals Industries (NYSE: and TASE: TEVA).
Under terms of the agreement, S.L.E. will distribute Canndoc’s GMP products to pharma clients, including hospitals, health maintenance organizations (HMOs) and all pharmacies in Israel, including pharmacy chains. In the future, as regulatory approvals allow, S.L.E. will provide logistics capability for exporting Canndoc’s products to countries that support regulations for the sale and distribution of cannabis products for medical use.
S.L.E. is one of Israel’s leading companies for providing health logistics services and distributes products from dozens of local and international companies. S.L.E. is licensed by the Israeli Ministry of Health, and also holds a GDP distribution license.
“Our agreement with S.L.E., Israel’s leading company in distributing medical products, creates a complete supporting platform for supplying Canndoc’s GMP products to any location in Israel and for countries with similar regulations,” said Canndoc’s Chairman Ehud Barak. “Through its S.L.E. partnership, Canndoc has aligned itself with one of the most prominent pharmaceutical companies in the world, for the distribution of cannabis-based medical treatments to countries that recognize the value of these medicines for people in need.”
S.L.E. CEO Aviad Bossi adds, “The agreement brings together our well-established pharmaceutical distribution network with Canndoc’s high quality medical cannabis industry presence and market leadership. Beyond the operations in Israel, this agreement will provide Canndoc significant logistical capabilities that can support Canndoc’s exporting operations from Israel.”
The distribution agreement is set for a 3-year term and includes a mechanism for automatic extension periods of two years each.
Canndoc is one of the first licensed producers, with its GMP-approved medical cannabis Rx products being sold in pharmacies. The engagement in this distribution agreement will broaden Canndoc’s ability to distribute GMP products to its patients within the S.L.E. pharmacy network throughout Israel. In addition, S.L.E. will provide Canndoc significant logistical capabilities in the future supporting Canndoc’s ability to export its products to countries with consistent regulation for the sale and distribution of cannabis products for medical use.
Subscribe to PICANTE via Email
Follow us on Facebook
Subaru Chooses TomTom Navigation for All-New US Vehicles
Continuity Wraps Up a Strong 2019 with a Strategic Acquisition, the Launch of a New Product and Multiple New Client Signings
ZetaDisplay adapts its organization to increase scalability and growth
GridGain’s Strong Market Momentum Continued in 2019
Microchip Joins Responsible Business Alliance (RBA) – the Global Industry Coalition Dedicated to Corporate Social Responsibility
CDK Global to Announce Second Quarter Fiscal 2020 Financial Results on February 4, 2020
Phenom People Raises $30 Million in Series C Proving the HR Shift Towards AI-Powered Talent Experiences
NETSOL Technologies to Ring Nasdaq Closing Bell on Tuesday, January 21, 2020
Vouch uses Socotra’s cloud-based platform to launch insurance products tailored for high-growth startups
Timeout called on online negativity as mobile users are invited to #TextForHumanity
Design Intelligence Award 2020 Is Looking for the Most Outstanding Design
Join TOPs of gambling hangout: BET2020 proposes a unique offer!
Digital Securities Guru Thomas Carter on The Two Keys That Will Unlock Mass Adoption of Cryptocurrency/Blockchain in 2020
Rovio Entertainment Corporation: Repurchase of own shares on 9 January 2020
What Does Public Domain Day Mean for Book Readers?
Rovio Entertainment Corporation: Repurchase of own shares on 10 January 2020
Buying a Home – What Should You Look After?
Pharmaceutical Packaging Equipment Market Size Worth US$ 11.46 Bn By 2026
ROTH Capital Partners Bolsters its Healthcare Franchise with Key Hires
5 Key Reasons Why You Should Never Underestimate Video Marketing
Follow our Tweets
Cannabis3 days ago
7 Things to Consider Before Buying Safe CBD Products
Augmented Reality (AR)5 days ago
Fluper Featured as the Best Android App Development Company By Crowd. Review
IT7 days ago
Jumei Announces Receipt of a Preliminary Non-Binding Proposal to Acquire the Company at $20.0 per ADS
Business and Management5 days ago
The Law Offices of Frank R. Cruz Announces Investigation on Behalf of The RealReal, Inc. Investors (REAL)
Guest Articles4 days ago
Robo.cash doubles funding volumes in 2019
Guest Articles4 days ago
Which Type of Furniture you should have for Elegant Look of Your Bedroom
Business and Management7 days ago
AWM Smart Shelf® Announces Partnership with OptiCrib Providing Technology for State-of-the Art Storeroom Management
IT6 days ago
MoneyGram and EbixCash Sign Exclusive Strategic Agreement to Expand Presence in India