Big Pharma Gets Into the Pot Biz

A subsidiary of global generic drugmaker giant Teva Pharmaceuticals is reportedly dipping its toes into the marijuana biz.

“Teva's subsidiary Salomon, Levin, Elstein, better known as S.L.E., and Canndoc, a subsidiary of InterCure Ltd (OTC: IRCLF), struck a strategic distribution agreement, under which Teva's subsidiary will distribute Cannadoc's GMP products to pharma clients, which include hospitals, health maintenance organization and all pharmacies in Israel,” Yahoo News reports. 

"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," said Canndoc Chairman Ehud Barak.

“The agreement also allows S.L.E. to provide logistics capability to export Cannadoc's [sic] products to countries where sale and distribution of medical cannabis products are legalized.”

Canndoc has been researching, producing, and distributing pharmaceutical-grade cannabis products under a license from the Israeli Ministry of Health since 2008.

Medical cannabis has been available for use by severely ill patients in Israel since the 1990s. The country has one of the most well-established medical cannabis programs in the world.