The Israeli medical cannabis company, Tikun Olam Cannbit Pharmaceuticals signed an unconditional and binding agreement with ITH Pharma UK to supply medical cannabis products for distribution in the UK and Northern Ireland, the company announced on Thursday.
ITH Pharma Ltd UK will distribute 37 million euros worth of Tikun Olam’s medical cannabis oils in accordance with its three year agreement. The products will be sold under ITH, with the company’s name on the packaging.
In 2020, the Israeli company signed an MoU of cooperation with ITH for the supply of CBD oil and other medical cannabis products in the UK, and has since moved forward with last week’s agreement.
The deal is part of Tikun Olam’s endeavors to increase its market overseas and supply medical cannabis across the world. It has also collaborated with Brazil, Germany, Austria, and Switzerland.
Just a day earlier, on Wednesday of last week the company reported that it officially entered the Brazilian market for the first time, after signing an agreement with the Brazilian company Ease Labs.
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