Historical export and import of low-THC, high-CBD medicine marks beginning of global trade relationship
ALBUQUERQUE, N.M., March 16, 2020 (GLOBE NEWSWIRE) — Ultra Health, New Mexico’s #1 Cannabis Company with a nationwide presence, successfully exported low-THC, high-CBD cannabis medicine to Israel last week through its strategic partnership with Israeli pharmaceutical group Panaxia. Ultra Health is the first-ever commercial United States cannabis company to export cannabis extracts to Israel.
The high-CBD medicine was created from extracting New Mexico-produced hemp in Bernalillo, New Mexico after Ultra Health and Panaxia US received hemp extraction and manufacturing permits from the New Mexico Environment Department (NMED). Ultra Health is also a recipient of two continuous hemp commercial research production licenses from the New Mexico Department of Agriculture.
After being successfully imported into Israel via a permit from the Israel Ministry of Health, Panaxia plans to make the high-CBD medicines available to patients suffering from epilepsy or autism spectrum disorder (ASD), many of whom are children. The first suite of products will include sublingual tablets, oral tablets, and sublingual drops, with future expansion plans to include inhalable products, ointments, and creams.
Upon the successful import of the high-CBD medicines to Israel, Ultra Health agreed to purchase another 1,000 pounds of New Mexico-produced hemp to begin expanding further production and export.
“We are pleased to be able to extend care to our patients in Israel who are in acute need of this kind of medicinal cannabis care,” said Dr. Dadi Segal, Panaxia CEO. “Panaxia’s superb R&D capabilities combined with the added value of a high-quality strategic company such as Ultra Health prove themselves time and again, especially with regard to the high quality of the products and stringent regulatory compliance.”
“We are grateful to the New Mexico Environment Department and the New Mexico Department of Agriculture, who had a key role in making all of this happen,” said Duke Rodriguez, CEO, and President of Ultra Health®. “I look forward to the continued success of the Ultra Health and Panaxia partnership that has proven to greatly enhance both entities’ abilities to innovate the cannabis industry on a global scale.”
About Ultra Health:
Ultra Health is New Mexico’s #1 Cannabis Company and the largest vertically integrated medical cannabis provider in the United States. The provider currently operates 20 dispensary locations statewide, with another 10 stores slated to open by the second quarter of 2020. Ultra Health provides unparalleled medical cannabis care by producing accurately dosed, smokeless cannabis products such as sublingual tablets, oils, pastilles, suppositories and more through its partnership with Israeli pharmaceutical group Panaxia. Ultra Health has been at the forefront of patient-rights issues and continues to fight for adequate supply and rural access in the New Mexico medical cannabis market.
Panaxia is currently the largest Israeli manufacturer and home-delivery distributor of medical cannabis products in Israel, and the first to have received the approval of the Israeli Ministry of Health for the manufacture of medical cannabis-based drugs (under the IMC-GMP directive). Panaxia is part of the Segal Pharma Group, founded over forty years ago and owned by the Segal family. The company manufactures over 600 different pharmaceutical products distributed in over forty countries worldwide. Panaxia US manufactures over 60 medical hemp and cannabis-based products in North America, including sublingual tablets, oral tablets, oils, and inhalers aimed for the treatment of conditions such as PTSD, cancer, chronic pain, epilepsy, anorexia, burns, and many other ailments. Panaxia has over 150 employees, and all of the clinical trials are led by group employees. The Segal Pharma Group additionally owns Luminera Derm, manufacturer of injectable dermal fillers, and Tree of Life Pharma, manufacturer of over-the-counter drugs. For more information, visit the Panaxia website at: https://panaxia.co.il/
Contact: Marissa Novel 480-404-6699