Tikun Olam Cannbit The EU-GMP accreditation, which is necessary for the commercial export of medical cannabis to Europe, was granted to Israel’s (TASE:TKUN) production facility in the north of the country and cultivation farm at the Dead Sea.
With the help of this accreditation, Cannbit-Tikun Olam Israel will be able to carry out the agreements with German pharmaceutical business Fette Pharma that will allow it to export its products to Germany, Austria, and Switzerland.
The certificate also applies to medical cannabis products, which are classified as pharmaceuticals in the European Union and sold only with a doctor’s prescription. The new certification will enable the business to carry out the production and marketing contracts it signed to create medical cannabis products and create cutting-edge administration strategies that can be used for cannabis’ many medical applications.
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The company will take action to negotiate more international production contracts as part of this initiative, enabling the company’s line of clinically researched products to be marketed in commercial numbers across the globe.
According to Cannbit-Tikun Olam CEO Avinoam Sapir, “The company’s most significant strategic step to date and a major breakthrough for our business and the whole Israeli cannabis market was receiving the famous European accreditation. With the certificate in hand, we can now offer a substitute for some chemical drugs, a method that has been clinically shown to enhance patients’ quality of life all over the world.
I ask pharmaceutical businesses to join us in sowing the seeds of the future by selling our clinical research-based indication-specific medications and, in the future, our distinctive and creative administration forms in pharmacies throughout Europe.”
In Israel, Palestine, and Ukraine, Teva Pharmaceuticals will market cannabis oils from Cannabit-Tikun Olam.
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