Together subsidizes sales for medical cannabis export permit

Together  / Photo: Ofir Peretz , Globes

In a pilot project, Israel's Ministry of Health is fast tracking export permits to companies that subsidize sales on the domestic market.

Together Pharma (TASE: TGDR), which specializes in cultivating and manufacturing of medical cannabis products, has announced that the company is taking part in a cannabis export pilot project by the Israeli Ministry of Health. Launched yesterday the pilot project will expedite export permits for companies that subsidize the price of medical cannabis products for the Israeli market.

As part of the pilot project, Together will offer a significant discount on a large part of the products it is currently selling in Israel, which will now be sold for NIS 100-140 for a 10 gram package. The company will apply to the Ministry of Health to receive a permit.

Together Pharma CEO Nissim Bracha said, "Receiving an export permit represents the realization of the company's business strategy to expand internationally to sell medical cannabis to target markets in Europe and Brazil, both from Israel and from Uganda. We today already have hundreds of kilograms of inflorescences ready for extracting EU-GMP standard oils, so that it is our plan to work for immediate exports, according to the regulations in the target countries."

Together is set to complete construction of the factory and trading offices that it owns, covering an overall 750 square meters, and with production capacity of about 50 tons of medical cannabis inflorescences annually. The factory and trading offices will be an important link in Together's value chain for manufacturing the finest quality products as well as medical cannabis products from its farm in Ashkelon, in addition to the medical cannabis products that Together imports from its farm in Uganda.

Published by Globes, Israel business news - en.globes.co.il - on October 6, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020

Together  / Photo: Ofir Peretz , Globes
Together / Photo: Ofir Peretz , Globes
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