Aphria Inc. continues to reach milestones and expand across borders. Yesterday, the cannabis company announced a new agreement that it signed with Canndoc Ltd., a subsidiary of one of the largest medical cannabis producers in Israel, InterCure Ltd. This is a strategic supply agreement in which Aphria will be sending dried bulks of flower for the next two years, with the option of expanding the deal for two additional two-year terms.
During the first two-year term, and any additional terms both companies decide to continue with, Aphria will deliver 3,000 kgs of bulk dried flower, which the Israeli company will use to transform it into a finished product that will be sold across Israeli markets and co-branded by Aphria and Canndoc. “We are excited about our strategic partnership with Canndoc, a well-established Israeli leader, and the opportunity to continue to expand our medical cannabis brand internationally,” said Irwin D. Simon, CEO of Aphria. “Today’s announcement is about more than a supply agreement. It’s about the strength and quality of our medical brand, Aphria, being continuously validated by the world’s medical cannabis markets, including countries in which we have no distribution today. The Agreement represents a significant step for Aphria, and we look forward to bringing our high-quality medical cannabis products to patients in Israel.”
This strategic partnership allows Aphria to collaborate on the many research initiatives and clinical trials focused on medical cannabis being conducted alongside leading hospitals and research institutions in the country, as well as look into a possible entry into the European market. “We are proud to partner with Aphria, a global leader who shares with us the same quality values and commitments of meeting patients’ needs and improving their quality of life. This is another vote of confidence in Canndoc’s leadership and the Israeli market,” said Ehud Barak, former Israeli Prime Minister and Chairman of Canndoc’s Board of Directors.