Israel to Significantly Expand Medical Cannabis Access, Enhancing Treatment Options Amid Rising Demand
Israel is set to significantly relax its medical cannabis policies, a move anticipated to boost the number of registered patients by 70% due to these changes and the impact of war-related PTSD cases. This development is hailed as a “game-changing” shift by medical cannabis experts and activists, including Nir Youftaro, who became known for his advocacy and distribution of homemade cannabis oil to chronic pain sufferers.
The forthcoming Health Ministry policy changes, expected to be implemented by the end of March, aim to simplify access to medical cannabis for various conditions. This includes removing the previous requirement for patients to try up to three years of conventional medicine before qualifying for cannabis treatment. This reform responds to Israel’s growing medical cannabis market, which adds about 3,000 new patients each month, making it the largest per-capita medical cannabis market worldwide.\
The increase in licensed medical cannabis patients, currently over 137,000, has been significant in recent years, with a notable surge following the Israel-Hamas conflict. The war is anticipated to result in at least 30,000 new PTSD patients, potentially increasing the demand for medical cannabis as a treatment option. However, the Health Ministry has clarified that cannabis is not recommended for treating recent trauma or acute stress disorder (ASD), distinguishing it from PTSD, which can be treated with cannabis in severe cases.
The new regulations will also allow a broader range of doctors to prescribe medical cannabis, making it more accessible for various conditions without the strict limitations previously in place. This includes eliminating some age restrictions and making it easier for children and older adults to receive prescriptions for chronic conditions. The reform is seen as a significant step towards improving the quality of life for patients requiring medical cannabis for treatment.
Despite these positive changes, the Israel Medical Association has expressed concerns about the potential negative effects of cannabis use, recommending that medical cannabis be administered primarily in oil form to mitigate the harmful effects of smoking.
The relaxation of medical cannabis rules in Israel represents a pivotal moment in the country’s approach to cannabis treatment, with the potential to dramatically expand patient access and streamline the regulatory environment for medical cannabis companies. This reform is expected to invigorate the medical cannabis industry in Israel, providing patients with more treatment options and contributing to the growth of the market.
Israeli-based cannabis companies in focus:
BYND Cannasoft Enterprises Inc. (Nasdaq: BCAN) is an Israeli-based company that merges software development with the medical cannabis industry. The company recently announced its plan to integrate artificial intelligence into its software, proposing a budget of $1.5 million with potential grant support of up to $0.75 million. This initiative aligns with the Israel Finance Ministry’s decision to enhance the wartime high-tech fund, aiming to bolster startups within Israel’s dynamic high-tech and cannabis sectors. Earlier this week, BYND Cannasoft successfully priced a $7.0 million underwritten public offering.
InterCure (Nasdaq: INCR), also known as Canndoc, is recognized as a leading cannabis company outside North America. Canndoc, a subsidiary of InterCure, is Israel’s largest licensed cannabis producer and offers GMP-certified medical cannabis products. InterCure has recently entered into a share purchase agreement to acquire Leon Pharm, an Israel-based pharmacy chain specializing in medical cannabis. Founded in 1988, Leon Pharm operates as a private pharmacy chain in Israel, specializing in the customization of pharmaceutical products and cannabis, while providing professional services.
