Pharmaceutical companies plan further development focusing on the therapeutic properties of hemp

Large international pharmaceutical companies are increasingly indirectly or directly enter the hemp business. This trend is also evident in our country, when national pharmaceutical companies lobby for the adoption of legal acts that “drive” patients into pharmacies so that only there they can use the therapeutic properties of hemp. At the same time, any other alternative that is more accessible to a wide range of potential patients is hushed up, which will make it possible to use not pharmaceutical preparations, but, for example, food products , cosmetics , dietary supplements made on the basis of the therapeutic properties of technical hemp, which have an extremely powerful healing effect.

It is no secret that the development of the medical cannabis market is primarily associated with the active improvement of the regulatory framework, the availability of innovative technologies and the willingness of potential patients to take appropriate drugs. For example, israeli marketis saturated with a wide variety of services and medicines containing hemp. In particular, one of the pharmaceutical giants Teva Pharmaceuticals, through its subsidiary, signs an agreement with Cannac, a company specializing in the production of medical hemp, in order to expand its market among consumers, including hospitals, pharmacy chains and organizations associated with the health care system . Teva Pharmaceuticals is one of the largest pharmaceutical companies in the world and is considered the largest producer of generics. The main goal of the company today is not to miss the promising areas of the global pharmaceutical industry, where hemp breeding is one of the fastest growing segments. 

The company "Teva", has long been following the market for hemp products . Back in 2016, the pharmaceutical giant agreed to distribute a medical cannabis-based medical inhaler for the Israeli market . However, the drug took more than two and a half years to fully enter the market in June 2019.

In accordance with the agreement, Teva plans not only to distribute Canndoc products in Israel , but will also create prerequisites for increasing the export opportunities of Canndoc products to countries that support the rules for the sale and distribution of products using various hemp ingredients.

Teva CEO Aviad Bossi hopes the agreement will allow companies to combine a “well-established pharmaceutical distribution network” with “high-quality hemp products,” which will ultimately help both companies become market leaders.

Chairman "Canndoc" Ehud Barak (former Prime Minister of Israel ) sees the cooperation between the companies complete CDB products market development, focusing on the fact that an agreement with a leading Israeli company in distribution of medical products, to create a complete framework for the delivery of products "Canndoc" not only all over Israel , but also to countries with similar rules and terms of trade. Here they hope that the experience of introducing pharmaceuticals in the medical products market will allow hemp-based drugs to take their full place among medicines and bring health to potential patients who need appropriate treatment. 

The initial agreement will be valid for three years, but the transaction includes a period of automatic extension for two years.

Despite the fact that this is not the first transaction between a large pharmaceutical company and a cannabis-related business, it is one of the most notable to date. The fact is that pharmaceutical companies are quite careful with the introduction of new hemp-based drugs into production , which today hinders their growth and development.

But this is not the only successful transaction in the pharmaceutical market. Another major deal announced to date is an agreement on the development of new CBD drugs and their distribution between Novartis and Tilray.

Johnson & Johnson also does not want to be left behind the global trend and is gradually being included in cannabinoid biotechnology research.

In addition to specific transactions, several large pharmaceutical companies have registered general clinical trials related to the study of drug-free cannabinoids in the United States and Canada . Among the leaders in the number of registered trials are Sanofi, Pfizer, and Merck. As for patents related to new technologies in the field of modern hemp breeding in the USA , the company "Abbvie" today clearly stands out in this matter on the market and is a clear leader in the number of registered know-how.

As the pharmaceutical industry evolves and new hemp-containing products are introduced to the market, we are likely to see that more and more large pharmaceutical companies will enter into deals with hemp companies or even initiate their own crops. According to experts, this is only a matter of time. But one thing is clear: the dynamics are positive, and it looks irreversible.

Commentary of the Ukrainian Technical Hemp Association

Large international pharmaceutical companies are increasingly indirectly or directly enter the hemp business. This trend is also evident in our country, when national pharmaceutical companies lobby for the adoption of legal acts that “drive” patients into pharmacies so that only there they can use the therapeutic properties of hemp. At the same time, any other alternative that is more accessible to a wide range of potential patients is hushed up, which will make it possible to use not pharmaceutical preparations, but, for example, food products , cosmetics , dietary supplements made on the basis of the therapeutic properties of technical hemp, which have an extremely powerful healing effect.