Israel’s oldest medical cannabis company, Tikun Olam, received an EU-GMP certificate on Monday that allows it to export medical cannabis to Europe.
Following its license approval, Tikun Olam is now able to follow through on a deal made with German pharmaceutical company Fette Pharma. As part of the deal, the company will export medical cannabis to Germany, Austria and Switzerland.
Tikun Olam intends to sign further deals now that it has the EU-GMP (Good Manufacturing Practice) certification.
What is the EU-GMP certification?
The EU-GMP certificate is essential in order to create, export and market medicine throughout Europe. Among other drugs, it applies to medical cannabis, which is defined in Europe as a prescription medication.
“The creation and export of medical cannabis that is based on Israeli research to Europe is a realization of the ‘from Israel will come medicine’ vision,” said Tikun Olam CEO Avinoam Sapir.
"Receiving the prestigious European certificate is the most important strategic move for the company up to this point as well as a breakthrough for Tikun Olam and the Israeli cannabis industry."
Avinoam Sapir
“This is the first and essential step for us to become a global research-based pharmaceutical company,” he said, “and I am happy and excited to begin global work and compete in more markets with our innovative and unique products.”