THE INTERNATIONAL CANNABIS INDUSTRY WILL GRADUALLY OPEN UP OVER THE NEXT THREE YEARS TO BECOME ONE OF THE FASTEST GROWING MARKETS IN THE WORLD.
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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 firstname.lastname@example.org.
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.
Maricann and San Martino plan to enter into cannabis joint venture in Italy, while Danish cultivator Danavian Cannabis Ltd. is acquired by Kaneh Bosm. Meanwhile, Germany calls for help from the Netherlands to meet the country’s soaring medical cannabis demand.
The Green Organic Dutchman acquires Polish CBD company HemPoland for €30 million, while British beverage giant Diageo explores investment options in the cannabis space. Meanwhile European Parliament prepares a motion for a resolution on medical cannabis, and a New study examines the role cannabis plays in treating Parkinson's and Alzheimer's.
Maricann completes first shipment of cannabis flower into Germany, while elsewhere Aurora ships mother plants into Denmark to begin cultivation for Aurora Nordic. Meanwhile, the UN begins its first formal review into cannabis scheduling in international law, and dispensary chain MedMen launch a €3.5 million ad campaign.
Cannabis companies raise over €6.9 billion in 2018, MedMen list on the Frankfurt Stock Exchange and Epidiolex looks set to cost patients €28,000 per year in the US. Meanwhile, UK politicians push for reform and LP’s look to make moves in South America.
CROP set to harvest 600,000 plants of ‘cannabis light’ in Autumn. Canadian companies are tapping into the Swiss market as Italy’s health minister pushes for private cultivation licences. Meanwhile, Israeli exports stall and Molson Coors creates a cannabis joint venture.
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.
Starting in the 1960s, Finland, like its Scandinavian neighbours developed a history of drug prohibition. However, Finland is too often tarred with the same brush as Sweden’s repressive policies. In reality, since 2008, Finland has legalised medical cannabis and reformed the formerly punitive cannabis policies. Although mainstream politics avoids the subject of full legalisation, youth parties are fighting for reform in the happiest country in the world.
In Sweden medical cannabis use has been considered an aggravating circumstance rather than an extenuating circumstance as many patients have suffered at the hands of punitive state laws. However, as two historic cannabis licences have been granted, Sweden may no longer be able to remain an island in the changing global consensus on cannabis.