INCR | Market Cap: $51.9M (07/13/26)
Industry:
Pharma & Biotech
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DESCRIPTION

InterCure is an Israeli medical cannabis company that operates across the full value chain — from cultivating cannabis at greenhouse facilities in Israel to processing it into pharmaceutical-grade dried flower and oil products and selling those products directly to patients. InterCure sells almost entirely in Israel, where patients access medical cannabis through licensed pharmacies with a prescription. Conditions treated include chronic pain, PTSD, epilepsy, Parkinson's disease, cancer-related symptoms, and autism spectrum disorder. InterCure distributes products through third-party pharmaceutical distributors, its own trade houses, and a chain of 26 owned pharmacies operating under brands including Givol, Leon Pharm, Max Pharm, and Cookies. Revenue is driven by patient volume, pricing, and distribution reach. Owning pharmacies provides a higher-margin direct channel compared to wholesale distribution. InterCure sells under its own Canndoc brand and licensed brands such as Cookies, Tyson, and Binske, with products displaying specific cannabinoid profiles in a pharmaceutical-style format. InterCure sources cannabis from its own greenhouses as well as through import agreements with Canadian producers including Tilray and Organigram. The company began generating revenue in Germany in FY2025, its first meaningful international market, following Germany's liberalization of medical cannabis prescribing rules in 2024. InterCure's growth strategy centers on expanding its owned-pharmacy footprint in Israel, positioning for a potential Israeli recreational cannabis market, and building out international distribution in Germany and other EU markets.

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