Former Prime Minister Barak Going Into the Medical Marijuana Business
Former Israeli Prime Minister Ehud Barak is going into the medical marijuana business as the newly appointed chairman of InterCure, a large Israeli company positioning itself to dominate the lucrative market opened up by the drug’s legalization.
InterCure is currently among the leading concerns in the burgeoning field of medical marijuana. It is examining the possibility of a public offering on the NASDAQ and is about to change its name to Canndoc Pharma.
According to Israel’s Channel Two, Barak said, “I’m happy to join the top management team of the company. Medical cannabis has the proven potential to aid and improve the lives of many patients all over the world, and the main Western states have adopted and are adopting it as a recognized medical treatment.”
“It is my intention to make Canndoc Pharma a world leader in its field,” he added.
Barak will receive a salary of $10,000 a month for his services, as well as the option to acquire five percent of the company itself.
Israel’s burgeoning medical marijuana sector is valued at over $100 million. Industry executives have been urging the Israeli government to end a temporary freeze on exports of medical marijuana introduced in February.