Conomed has signed a strategic distribution agreement with Novolog

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Kanomed reports that it has signed a strategic distribution agreement with Novolog, which concerns the exclusive distribution of Kanomed’s medical cannabis products and future products (inflorescences and oils), which will be approved for marketing by the Ministry of Health, to licensed pharmacies in Israel, licensed to sell medical cannabis products. The agreement was signed for 3 years starting from November 1, 2020, with automatic renewal for additional consecutive periods of two years each.

According to the agreement, Novolog, which provides health services, logistics, home care and digital health, will receive cannabis products on consignment from Canonem, after receiving all approvals from the authorities, and Novolog will be responsible for storing and distributing the products, locating customers in Israel, receiving orders and issuing invoices.

In return for complying with all the terms of the agreement, including the provision of full distribution services, Novolog will receive a commission derived from the total proceeds from the sale of the products, as is customary in such agreements, as well as a fixed annual minimum commission.

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