Teva Israeli subsidiary signs cannabis distribution deal

Be at the forefront of cannabis and psychedelics science and innovation. Register by March 14 & Save $100 on tickets to The Emerald Conference by MJBiz Science, April 1-3 in San Diego.


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 so, according to a Canndoc news release distributed Friday.

Israel’s medical marijuana market has roughly 46,000 patients.

Teva’s Israeli subsidiary Salomon, Levin, Elstein (SLE) agreed to work with Canndoc, whose chair is former Israeli Prime Minister Ehud Barak.

The initial agreement will span for three years and can be extended in two-year periods after that.

News of the transaction was first reported by Forbes.

Teva, based in Petach Tikva, Israel, trades on the New York Exchange under the ticker symbol TEVA.

For more on this story, click here.

For analysis and in-depth looks at the investment trends and deals driving the cannabis industry forward, sign up for our premium subscription service, Investor Intelligence.