Israel: Ehud Barak’s Cannabis Company Delivers 170% “Sales Boost”

Business Cann UK reports

INTERCURE is predicting revenues of C$100m (£59m) over the coming year after reporting record sales in its third quarter.

The Israel-based medical cannabis company reported sales of C$25m (£14.67m) in the three months to September 30, up 36% on its previous quarter and over 170% on the same period a year earlier.

It attributed the spike in sales to its increased market share, growing consumer demand for cannabis products and the expansion of its medical cannabis dispensing operations.

InterCure, founded in 1994, recently became one of the first Israeli companies to receive an EU GMP licence, and its wholly-owned subsidiary Canndoc is reportedly Israel’s largest licensed cannabis producer.

It has been developing, cultivating and selling its own branded products since 2008, and has grown from 10 employees to around 320 since then.

In 2012 it became the first Israeli company with a medical cannabis licence to list on the Tel Aviv stock exchange, and in 2018 former Israeli Prime Minister Ehud Barak became its Chairman.


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