THE WHAT? Together is set to become the first Israeli medical cannabis public company to market its products in Brazil. The CBD oil supplier has signed a memorandum of understanding with a local partner who will be responsible for obtaining regulatory clearance.
THE DETAILS Together is close to completing the construction of a factory for manufacturing medical cannabis products in Ashkelon, close to the farm and will allocate a dedicated area for the manufacture of Brazil-compliant products.
Brazil does not allow the cultivation of cannabis but is trialling medical cannabis imports for the next three years, Together noted.
THE WHY? Together CEO Nissim Bracha explained, “The Brazilian market is an enormous market with a population that is 20 times larger than Israel so that we see major economic potential in Brazil to generate revenue from medical cannabis oils, while expanding our international presence. The agreement in Brazil is an additional source of income for Together. It will operate in parallel to the Israeli farm and sales operations of quality medical cannabis products to pharmacies and patients as well as with activities on the farm in Uganda, from where we will continue this year to import large amounts of medical cannabis products to Israel.”