Tilray to Ship First-Ever Commercial Medical Pot Delivery to Israel

Ever eager to enlarge its footprint around the world, Tilray (NASDAQ: TLRY) will make history by being what it claims is the first cannabis company to import medical marijuana into Israel for commercial use.

The Canada-based company said Monday it signed an import-export agreement with an Israeli company, Canndoc, for medical cannabis. Under the terms of the deal, Tilray is to ship up to 2.5 metric tons of product to the Middle Eastern country. Tilray said the delivery, which will originate from company facilities in Portugal, should arrive early this month. It will be sold in Israeli pharmacies.

Although the temperate Israeli climate is suitable for growing cannabis, the country is currently experiencing a shortage of product. Some claim that this arises from reforms enacted last May, which aim to shift the point of sale to licensed pharmacies rather than directly from growers. These reforms also mandate that growers conform to Good Manufacturing Practices (GMP) standards.

Source Fool.com