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24. March 2020
Global Market Watch Medical News

Panaxia Granted First Permit to Export Cannabis Oil from the US to Israel

Panaxia, the largest manufacturer and distributor of pharmaceutical cannabis products in Israel, and its partner Ultra Health have announced the arrival in Israel of the first shipment of hemp extract, having been awarded a first-of-its-kind permit to export cannabis oil from the US to Israel.

This unique license was granted to the companies in light of their recent qualification to manufacture and distribute at their joint New Mexico (Bernalillo) facility, including hemp extracts of particularly low (<0.3%) THC concentrations. The companies have recently been licensed to manufacture products at the New Mexico facility and distribute them throughout the US.

The facility was designed by Panaxia US and is operated by it while Ultra Health supplies raw materials and distributes the products. Manufacturing had begun this month, and the extracts delivered to Israel will be used in the manufacture of CBD-rich medicinal cannabis products under the premium brand of Axiban.

Panaxia aims to produce within a short period of time an inventory large enough to satisfy several months of demand of all Israeli patients requiring this care. The products are designated for the Israeli market only and may not be distributed outside of Israel. Panaxia’s CBD-rich oil is targeted at specific group of patients that require a miniscule dose of THC (categories C20, C24) among whom is a large group of children suffering from epilepsy or autism spectrum disorder (ASD).

Dr. Dadi Segal, Panaxia CEO: “We are pleased to be able to extend care to our patients in Israeli who are in acute need of this kind of medicinal cannabis care. Panaxia’s superb R&D capabilities combined with the added value of a high-quality strategic company such as Ultra Health prove themselves time and again, especially with regard to the high quality of the products and stringent regulatory compliance.

We are grateful to the New Mexico Environment Department and the New Mexico Department of Agriculture, who had a key role in making all of this happen,” said Duke Rodriguez, CEO, and President of Ultra Health®. “Based upon the success of this historical export and import, today we have agreed to buy 1,000 pounds more of New Mexico-produced hemp to begin expanding production further.

 

Source: Panaxia Pharmaceutical Industries