The three-year deal will see ITH Pharma Ltd UK distribute Tikun Olam's medical cannabis oils in accordance valued at NIS 37 million. The products will be sold under ITH, with the company's name on the packaging.
In 2020, Tikun Olam signed an MoU to cooperate with ITH for the supply of CBD oil and other medical cannabis products in the UK, and it has since moved forward with last week's agreement.
The deal is part of Tikun Olam's efforts to increase its international market share for the supply of medical cannabis across the world. It also has collaboration agreements with Austria, Brazil, Germany and Switzerland.
Last Wednesday, the company reported that it had officially entered the Brazilian market for the first time, after signing an agreement with Brazil's Ease Labs.