OVER 95% OF THE WORLD´S FEDERALLY LEGAL CANNABIS MARKETS ARE OUTSIDE OF NORTH AMERICA. THE INTERNATIONAL CANNABIS INDUSTRY IS A RAPIDLY CHANGING LANDSCAPE THAT PRESENTS ONE OF THE BIGGEST OPPORTUNITIES FOR INVESTORS AND ENTREPRENEURS GLOBALLY.
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Prohibition Partners is delighted to announce the launch of The European Country Panel, an online community of thought leaders in the European cannabis industry. This panel brings together selected members of the industry, representing over 28 countries, to share information, discuss ideas and develop new opportunities. If you are interested in joining the European Country Panel, please contact our Community Manager, Olivia Rutter, at email@example.com.
While Jersey votes to increase patient access to medical cannabis, many UK patients are finding getting a prescription just as difficult as before the law change. Meanwhile, more and more signs point to an imminent recreational legalisation in Mexico, New Zealand’s health ministry has awarded a licence to grow, and cannabis is a big winner in the US midterms.
Thai government considers a draft bill for the legalisation of medical cannabis as Mexico’s Supreme Court rules that recreational cannabis use is legal. Lesotho has become a hotspot for Canadian cannabis companies and seven people a day are being approved for medical cannabis in Australia.
Vanuatu legalises medical cannabis, Mexican officials travel to Canada to study their legalisation model, and Spain’s Podemos party prepares a bill to regulate the drug in the country by 2019.
As Canada legalises recreational cannabis, Lithuanian parliament votes to legalise medical cannabis and New Zealand’s Health Ministry is working towards a 2020 date for legal medical cannabis.
UK to reschedule medical cannabis on November 1, and the country’s Royal College of psychiatrists will review their opposition to legalisation. Jamaica ships cannabis oil to Canada ahead of recreational legalisation.
Canadian cannabis companies seek European investment as October 17th approaches. Elsewhere the European Parliament environmental committee passes its first motion on medical cannabis and Prohibition Partners goes global with the launch of The LATAM Cannabis Report™.
UK government announces how it will define cannabis-based medicines and Stenocare plans to become the first medical cannabis IPO in Denmark, while Epidiolex becomes the first cannabis-based medicine approved by the US DEA.
As cannabis stocks skyrocketed this week, Denmark received its first shipment of cannabis oil and Germany received its first shipment of CBD capsules.
Canadian cannabis companies look to European funds, Aurora acquires the largest hemp producer on the continent and Tilray exports cannabis oils to a paediatric patient in the UK. In France, the Medicines Agency will evaluate the country’s medical cannabis system in late September.
Aphria secures a Danish partner to produce organic medical cannabis, MGC signs European distribution deals and Pure Global Cannabis lists on the German Stock Exchange. Elsewhere, Canopy stock surges and research shows big pharma hold the majority of cannabis patents.
Medical cannabis is officially available in the UK today via prescription and millions of patients, who suffer from registered conditions that can be treated with cannabis, could qualify for treatment.
Oceania is poised for big things in the global cannabis market with a regional industry that is estimated to be worth US$8.7 billion by 2028. With over 20 companies registered on the ASX and a government mandate to become a global leader in cannabis production, Australia is leading growth in the region.
It’s hard to think about a more significant date, in the long and arduous history of cannabis prohibition than October 17th, 2018. Today, Canada becomes the first G7 country in the world to federally legalise cannabis consumption.
Over the past 24 months, the Latin American cannabis industry has emerged from the shadows to command the attention of the international cannabis community as over ten major markets have legalised medical cannabis. Legal cannabis sales are worth $125 million in 2018, but that number is expected to rise to $12.7 billion by 2028. The LATAM Cannabis Report™ examines the key social, political and economic forces driving the cannabis market in Latin America.
As of September 2018, the Italian medical cannabis system is struggling to meet patient demand. In 2017, 300 patients applied for medical cannabis but, a year later, nearly 10,000 patients are actively seeking medical cannabis prescriptions but favourable legislation and high consumption rates are making Italy a key contender for full legalisation.
Last year we examined the state of cannabis clubs in Catalonia. Historically a frontrunner in terms of both medical and recreational cannabis the region has blazed a trail in continental Europe. However, 12 months later, the Spanish government have done little to progress cannabis legislation at a federal level and issues of independence and territorial segregation have taken priority over a national cannabis policy.
By 2028, the European cannabis market will be worth €115.7 billion, according to market intelligence and strategic consultancy firm, Prohibition Partners. The findings come from The 3rd Edition of The European Cannabis Report™, a new report calculating the potential value of a fully legal cannabis market across 28 key countries in Europe.
Since March 2017, medical cannabis has been legal in Germany, launching a new domestic industry, and attracting the watchful eye of the global cannabis community.
Previously, the state had only accepted applications from around 1,000 patients who had navigated rigorous regulations in order to legally access cannabis treatments. However, as of March 2018, the number of applications to the health insurance companies has risen to 13,000, with over 60% of requests for reimbursement being approved.
Dutch cannabis laws are not without fault. Since the introduction of coffee shops in 1976, Amsterdam’s cannabis has been supplied by criminal organisations. Additionally, a lack of cannabis cultivation licences, since 2003, has allowed Bedrocan to develop a monopoly. But as the global reform on cannabis begins, the Netherlands are experimenting with cultivation licences in a bid to grow the industry.
France is emblematic of the hypocritical cannabis policies exhibited in Western Europe. More people consume cannabis in France than anywhere else in Europe, but despite recent amendments to the 1970 cannabis law, France is still missing out on a hugely profitable market.