As of April 29st, 2019, the Israeli MOH Cannabis Reform will come into effect. Its main terms include:
- GAP certificate – Only LPs with GAP certification will be allowed to operate. MOH will revoke licenses of non-GAP qualified producers. As stated above, IMC is one of four current LPs with GAP certification.
- Prices – Until now, the price for medical cannabis to patients was fixed and regulated by the MOH. The new reform allows LPs to set their own prices, operating as a “free market” without the intervention of the regulator. This move is expected to increase IMC’s revenues.
Moving to prescription-based rather than license-based patient acquisition, the new reform will open the market by allowing, patients to choose and purchase in pharmacies, their desired brand of cannabis, based on a medical prescription. Currently patients are allocated to specific LPs by MOH with a specific license to purchase their products only. Over the years IMC has developed a very strong and popular line of products with unique branding which over the years IMC has developed– a fact that will give IMC a clear advantage in the domestic market with the upcoming reform.