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- Teva Pharmaceutial (NYSE:TEVA) has inked a deal with Cannbit-Tikun Olam where the latter will manufacture several cannabis oil products for the former to sell in Israel and the Palestinian Authority.
- Under the agreement, Teva is responsible for receiving regulatory clearances.
- The agreement will last for 10 years, with an option to extend it for another nine.
- Teva also said it plans on selling the products in Ukraine, where the government there is developing regulations.
- Seeking Alpha contributor Viceni investing has a $25 price target on Teva shares.