According to a report on Bloomberg on Thursday, next year could be a very big year for the country of Israel within the marijuana industry.
The country could become a provider of marijuana across the globe as Israel is in the process of trying to pass regulations would allow its growers to export their products out of the country.
One country in Israel called Breath of Life Pharma, is even hoping to submit an application to the FDA in the U.S. to get legal approval of its experimental treatments. The company has plans to apply for “investigative new drug” status from the FDA next year if the results from Adi Aran’s trials are conclusive enough.
There have been 60 autistic children enrolled in Adi Aran’s program, who is a neuro-pediatrician. The pediatrician is now in the middle of a second, controlled study with 100 children.
If the FDA were to classify the botanically derived medical cannabis product as an FDA-recognized drug, it would not be included in the federal ban on U.S. imports of marijuana. This could solidify Israel to becoming a global provider of medical marijuana exports.
The agency has yet to approve a botanically derived medical cannabis product.
“FDA recognition would boost a company that plans to open hubs for production, cultivation and clinical trials in several countries outside the U.S.” remarked Chief Executive Officer of Breath of Life Pharma, Tamir Gedo.