The sales agreements of Sheikh Medical reached NIS 132.5 million

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Sheikh Medical Group, the medical cannabis company owned by the Sarid family, today reports the signing of a series of agreements for the marketing and sale of its products in 4 pharmacies in the amount of NIS 70 million. These agreements join those already signed by the company in June. Reach an aggregate amount of approximately NIS 132.5 million through sales to 12 pharmacies in Israel.

The agreements will be valid for a period of 12 to 36 months and will allow pharmacies and customers a security dialogue regarding the continuity and availability of delivery.

Sheikh, which began selling its products, led by a series of ‘Nitzan’ products in Israeli pharmacies in April 2018, is investing its utmost attention in significantly increasing production capacity while maintaining quality products and the apartment. To that end, Sheikh upgraded the company’s growth facilities and signed agreements with Talcan and another tower in the north of the country earlier this year. Through these agreements, Sheikh ensures the pharmacies a continuous and orderly supply of quality products that make it possible to maintain the therapeutic continuum for the customer.

In addition to the company’s extensive activities in Israel, Sheikh Medical Group is expanding its international activities. Discourse recently signed two contracts for the marketing and sale of its products and products based on discourse activities in North America. In addition, the discourse has an infrastructure of international activity in Europe that includes the establishment of a breeding farm and plant in Greece.

This infrastructure will allow the discourse access to the European market regardless of the export permit from the State of Israel. The company also recently reported that it has received approval to comply with the European GACP standard, which allows it to prepare for export from Israel.

Sheikh Medical Group CEO Yogev Sarid: “After an in-depth examination and extensive experience gained in working with pharmacies in Israel over the past three years, and with customers in the last 13 years, we are proud to continue expanding Sheikh Medical Group’s collaborations with the leading pharmacies in Israel. .

These steps will allow us to continue to provide a continuous and stable response to the great demand for discourse products on the part of patients. Alongside these agreements we are prepared for the export of our products to a number of significant markets. Ensuring a cash flow of NIS 132.5 million over the next three years will support the implementation of the company’s investment strategy in Israel and around the world and will strengthen the company’s profitability. “

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