Canopy Growth Partners With Univo Pharmaceuticals to Sell Cannabis in Israel

Israeli-based Univo Pharmaceuticals announced this week that it had signed a memorandum of understanding with cannabis producer Canopy Growth (NYSE: CGC) that would see the two companies work together on the sale, production, and marketing of medical marijuana in Israel.

Univo will initially import 470 kilograms of dry cannabis from the Canadian producer, which it will also use to manufacture cannabis products that will be sold under a joint brand and logo.

At a later stage in the agreement, and once it's legal to do so, Canopy Growth will use Univo's location in Ashkelon, Israel, to manufacture and process cannabis products for export to Europe.

Source Fool.com