Israel’s Canndoc signs deal with Tilray to import medical cannabis

Israel-based Canndoc has entered into an agreement to import 2.5 tons of medical cannabis into Israel to address the supply shortage in that country.

The cannabis will originate from Canadian producer Tilray’s facility in Portugal, the company said in a news release.

The first shipment is expected to arrive early this month.

As part of the deal, Tilray also agreed to purchase up to 5 tons of Good Manufacturing Practice (GMP)-certified whole flower from Canndoc starting in the middle of 2020.

The whole flower will be either turned into finished product for European sale, pending regulatory approval, or developed into a finished product for Israeli distribution.

Israel’s Medical Cannabis Agency recently unveiled guidelines for medical cannabis exports, but approval would depend largely on whether local supplies are sufficient to meet patient demand.

Tilray trades as TLRY on the Nasdaq.

Canndoc is a wholly owned subsidiary of InterCure, which trades on the Tel Aviv Stock Exchange as INCR.