Six months have gone by since the pilot scheme for exports of cannabis from Israel began, and although exports have not yet received a final official stamp of approval, the activity which for a long time was a dream and a promise is becoming real.
Panaxia, which has a market cap of NIS 300 million on the Tel Aviv Stock Exchange, owns a cannabis processing facility in Lod, where it has developed a range of cannabis products administered in various ways.
Dr.
Meanwhile, other Israeli cannabis companies are actually buying pharmacies that specialize in cannabis in order to own the whole value chain in Israel and to be closer to the end customer.
Panaxia recently announced that it would record revenue of NIS 19 million in its first quarter financials, which represents 56% growth in comparison with in the corresponding quarter of 2020.
In France, we are taking part in a very prestigious pilot in which for the time being we are supplying products gratis, in the hope of becoming a significant player in this market, and from there too we have already received repeat orders.
Panaxia Israel is a subsidiary of Panaxia Pharmaceutical Industries, founded by Dr.
Last week it announced that it would sell quarter of a tonne of cannabis to the Brazilian market, and the company also has marketing agreements in Germany, Austria and Switzerland awaiting import permits in the target countries.