Middle East Cannabis Industry & Marijuana Business News

Israel unveils six-month transitional guidelines for medical cannabis exports

Israel’s Medical Cannabis Agency has unveiled transitional guidelines that would approve medical cannabis exports on a case-by-case basis provided local supplies are sufficient to meet patient demand, giving licensed companies a new market to sell their product. The new guidelines, which will be in place for at least six months, were laid out by the […]

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Reports: Former cannabis heavyweight Tikun Olam to sell Israeli assets for $42 million

Tikun Olam, once one of the world’s leading medical cannabis companies, is selling its domestic assets for $42 million – or about half of its asking price of $100 million – according to Israeli media reports. Cannbit Pharmaceuticals has reportedly agreed to buy Tikun Olam’s operations in Israel. Rivals Bazelet Group and InterCure were also […]

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Teva Israeli subsidiary signs cannabis distribution deal

A subsidiary of multinational pharmaceutical giant Teva Pharmaceuticals signed a deal with Israeli medical marijuana company Canndoc to distribute its products to pharma customers that include pharmacies and hospitals. While the deal is not exclusively for products in Israel, it will start there and move to other countries once it becomes logistically legal to do […]

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Israel throws medical cannabis industry curveball with new price control plan

The Israeli Ministry of Health is introducing a price control plan for medical cannabis that does not include a reimbursement mechanism, disappointing industry experts who had hoped the medicine would be added to the country’s “basic health basket.” The new pricing plan is expected to result in bigger monthly bills for frequent consumers, which analysts say could […]

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Cannabis the most widely used drug globally, UN World Drug Report says 

Marijuana was the most widely used drug around the world in 2017, with an estimated 188 million consumers that year, according to a new report from the United Nations. The 2019 World Drug Report provides an overview of the international supply and demand of cannabis, as well as other drugs. The data also underlines the […]

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Report: 380 Israeli cannabis cultivators pass early licensing test

Nearly 400 medical marijuana cultivators made it through the first round of testing in Israel’s licensing process, demonstrating the high level of interest in the country’s burgeoning medical cannabis industry just three months after exports won cabinet’s approval. Just over 380 cultivators underwent police checks and land ownership verification, while another 181 applicants still are behind them […]

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Israel’s prime minister contemplates adult-use marijuana legalization

Three weeks before the country goes to the polls, Israeli Prime Minister Benjamin Netanyahu said he would weigh legalizing cannabis if his party wins another term, The Jerusalem Post reported. So far, Canada and Uruguay are the only countries to have created regulated markets for adult-use marijuana. Netanyahu’s conservative Likud party is contending with the centrist Blue and […]

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CEO of company bought by PepsiCo invests in, joins board of cannabis tech firm Seedo

The CEO of a beverage company recently acquired by PepsiCo is placing his bet on marijuana, joining the board of directors of and making a significant personal investment in an agriculture business working in cannabis production. Daniel Birnbaum, CEO of at-home carbonated drink maker SodaStream – which PepsiCo acquired last year for $3.2 billion – will join […]

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Though a ‘positive step,’ WHO recommendations on cannabis fall short for some

The World Health Organization (WHO) made great strides in its recommendations on how cannabis should be scheduled, but the global industry believes there’s more work to be done. Martin Jelsma, drugs and democracy program director, at the Netherlands-based Transnational Institute, emphasized to Marijuana Business Daily that there are “very positive elements in the WHO recommendations,” including: Recognition […]

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Canadian marijuana companies raised landmark CA$12 billion in 2018

Marijuana firms in Canada raised a record 11.96 billion Canadian dollars ($9 billion) last year as they prepared to meet demand in the new adult-use market and grow their medical operations globally. That represents a 150% increase over 2017, when Canadian companies raised CA$4.7 billion, according to data compiled by Viridian Capital Advisors and shared […]

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Chinese delegation will visit Israel to explore medical cannabis opportunities

A Chinese delegation from business and research circles is planning to visit Israel in the coming days to explore opportunities in the medical cannabis sector. Cannabis for medical use remains illegal in China, but if the country’s position changed – even just on CBD, it could open significant business opportunities in the world’s most-populated country. Other […]

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