Recent data from Israeli Medical Cannabis Agency and Ministry of Health highlights significant market opportunity in the country.
Creso Pharma Ltd (ASX:CPH) welcomes recent Israeli Medical Cannabis Agency (IMCA) data that highlights a significant recent increase in medicinal cannabis uptake from patients in the country.
The data from IMCA, which is part of Israel’s Ministry of Health, shows that the number of authorised medicinal cannabis patients in the country has more than doubled over the past two years to in excess of 70,000 per month.
Notably, medicinal cannabis flower is the most common form of cannabis prescribed followed by extracts and oils.
“Rapidly growing market”
Israel is now the world’s biggest importer of medicinal cannabis flower and the rapidly growing Israeli market provides an exciting opportunity for Creso Pharma to leverage existing in-country relationships to accelerate growth.
Creso Pharma non-executive director and head of technology, innovation and distribution Miri Halperin Wernli said: “The data coming out of the IMCA is tremendously encouraging and highlights the considerable potential that Creso Pharma has in this rapidly growing market.
“Israel is widely recognised as one of the most active and more progressive cannabis markets globally and the company is very confident it can continue to build on its existing partnership with Univo as it looks to capture a larger market position.
“Management is continuing to progress a number of business development initiatives in Israel and has several value catalysts on the horizon.”
Read the article by Emma Davies on ProActive.