Teva subsidiary inks distribution deal with Israeli medical marijuana product maker
As drugmakers dip their toes into the water of cannabis-based drugs, major companies have so far mostly shied away from diving in. Now, a Teva subsidiary is looking for the on-ramp with a distribution deal with an Israeli medical cannabis company. Israeli subsidiary Salomon, Levin, Elstein (SLE) inked a deal with Canndoc, a publicly traded producer of GMP cannabis products, to distribute to Israeli hospitals, health maintenance organizations and all pharmacies, Canndoc said in a release. SLE will also provide logistical support to distribute Canndoc’s products abroad to countries that support the sale and distribution of medical cannabis. "The agreement brings together our well-established pharmaceutical distribution network with Canndoc's high quality medical cannabis industry presence and market leadership," SLE CEO Aviad Bossi said in a statement. "Beyond the operations in Israel, this agreement will provide Canndoc significant logistical capabilities that can support Canndoc's exporting operations from Israel."