(MENAFN– PR Newswire)
TEL AVIV, Israel, Dec. 27, 2021 /PRNewswire/ — Teva Israel and Cannbit-Tikun Olam (TASE: TKUN) signed an exclusive and mutual collaboration agreement, in which Cannbit-Tikun Olam will produce several medical cannabis products, administered as oils rich in THC and CBD, for Teva Israel. This will be done according to Teva’s instructions and stringent standards, and the products will be exclusively marketed, and distributed by Teva in Israel and the Palestinian Authority. The oils are based on strains developed by Cannbit-Tikun Olam and selected exclusively by Teva Israel due to their safety profile and strong therapeutic efficacy. In the future, and to the extent possible, the cannabis oils will also be marketed by Teva in Ukraine, where the government is currently developing regulation.
As part of the agreement and subject to Teva Israel receiving all the required regulatory approvals, the companies will collaborate for the extended period of 10 years, which they will also be able to extend by another 9 years.
Yossi Ofek, CEO of Teva Israel : ‘The medical cannabis arena is developing and being professionalized at a dizzying pace in Israel, and there is more openness to it in Israel and worldwide. Today, it is clear to many in the pharmaceutical industry and in the medical community that use of oils produced from specific cannabis strains may provide additional treatment options and respond to…
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(MENAFN– PR Newswire)
TEL AVIV, Israel, Dec. 27, 2021 /PRNewswire/ — Teva Israel and Cannbit-Tikun Olam (TASE: TKUN) signed an exclusive and mutual collaboration agreement, in which Cannbit-Tikun Olam will produce several medical cannabis products, administered as oils rich in THC and CBD, for Teva Israel. This will be done according to Teva’s instructions and stringent standards, and the products will be exclusively marketed, and distributed by Teva in Israel and the Palestinian Authority. The oils are based on strains developed by Cannbit-Tikun Olam and selected exclusively by Teva Israel due to their safety profile and strong therapeutic efficacy. In the future, and to the extent possible, the cannabis oils will also be marketed by Teva in Ukraine, where the government is currently developing regulation.
As part of the agreement and subject to Teva Israel receiving all the required regulatory approvals, the companies will collaborate for the extended period of 10 years, which they will also be able to extend by another 9 years.
Yossi Ofek, CEO of Teva Israel : ‘The medical cannabis arena is developing and being professionalized at a dizzying pace in Israel, and there is more openness to it in Israel and worldwide. Today, it is clear to many in the pharmaceutical industry and in the medical community that use of oils produced from specific cannabis strains may provide additional treatment options and respond to…
