Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) has some good marijuana news for those living in Israel.
This new bit of marijuana news is that Teva Pharmaceutical Industries Ltd (ADR) will be marketing the world’s first cannabis inhaler. This deal will have it acting as the exclusive distributor of Syqe Medical’s cannabis inhaler in Israel.
The cannabis inhaler allows patients to inhale the drug in doses that can reduce pain. Teva Pharmaceutical Industries Ltd (ADR) will also be handling the marketing of this device. Syqe Medical will still make the inhalers and the biodegradable cartridges that are used in them.
Teva Pharmaceutical Industries Ltd (ADR) and Syqe Medical didn’t reveal the financial details of the deal. The marijuana news may be good for TEVA. A 2016 report indicates that there are 26,000 medical cannabis consumption licenses in Israel. The current estimate has the average holder of one of these licenses spending $1,000 a month on cannabis, reports Globes.
“Thanks to the Syqe inhaler, we are effectively moving from cannabis use to cannabis treatment,” Dr. Eytan Hyam, Chairman of Syqe Medical, told The Times of Israel. “For doctors, the inhaler solves the problem of prescribing plants for smoking, and offers a solution for patients in that, for the first time, they will be able to receive a precise dose of medical cannabis.”
Prior to the creation of the Syqe Medical cannabis inhaler, it has been hard for patients and doctors to measure doses of the drug. However, the new treatment option makes it easier for patients to get the proper dose of marijuana.
