January 5, 2020 / 2:24 PM / 23 days ago

InterCure gets Israel's first imported medical cannabis shipment

FILE PHOTO: Ehud Barak, chairman of InterCure, a holding company of small medical firms, that bought medical cannabis developer Canndoc, speaks during an interview with Reuters in Tel Aviv, Israel January 29, 2019. REUTERS/Ronen Zvulun

LOD, Israel (Reuters) - Canndoc, an Israeli producer of medical grade cannabis, on Sunday received a shipment of 250 kilos of dried whole cannabis flowers that it says will help alleviate a shortage in Israel.

Canndoc, a unit of InterCure Ltd, last week signed a strategic cooperation agreement with Canada’s Tilray Inc for the import and export of medical cannabis..

The company said it was the first ever commercial shipment of medical grade cannabis into Israel. It came from Tilray’s production plant in Portugal.

“It will bring relief to Israeli patients who suffer from a shortage of supply,” Canndoc Chairman Ehud Barak, a former prime minister of Israel, told Reuters.

Canndoc has a deal to import up to 2.5 metric tonnes of medical cannabis from Tilray. The company, like its peers, aims to export medical marijuana once Israeli regulations are in place. The government has already approved cannabis exports.

Barak estimates Canndoc will be able to start exporting within a year, once there is ample supply for Israelis. Under the deal, Canndoc will sell up to 5 tonnes of medical cannabis to Tilray.

Canndoc cited Health Ministry data that Israel’s market for medical cannabis will reach 100,000 by the end of 2020.

Reporting by Steven Scheer; Editing by Tova Cohen

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