Two Israeli companies have signed an agreement to market an inhaler for medical marijuana, signifying what looks to be the first time a major global pharmaceutical company has agreed to market an MMJ product.
Teva Pharmaceutical Industries Ltd. and Syqe Medical said they inked a distribution and cooperation agreement for Teva to exclusively market Syqe’s inhaler, which has been used for more than a year at an Israeli hospital under a trial program, the Times of Israel reported.
Syqe said the deal is the first of its kind involving a big pharmaceutical company and a medical cannabis product.
According to the company, the inhaler allows for precise control over dosage so doctors can prescribe exact amounts to patients. The next step will be for it to undergo approval from Israel’s Ministry of Health.
Israel is gaining a solid reputation for tech know-how, and the country’s cannabis market benefits from lax regulations, according to the Times of Israel. The outlet also reports that there are some 26,000 patients in the country and that number is expected to double by 2018.