EUROPE WILL GRADUALLY OPEN UP OVER THE NEXT THREE YEARS TO BECOME THE LARGEST LEGAL CANNABIS MARKET IN THE WORLD.
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Ongoing free reports and content including The European Cannabis Report™ and European Cannabis Weekly newsletter.
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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.
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.
Germany is experiencing a ‘blistering’ rate of growth as Together signs a €10 million export deal. In a historic development, UK doctors will be able to prescribe medical cannabis by Autumn 2018 and Swiss politicians for cannabis pilot projects. Meanwhile, we have launched the European Country Panel, connecting Europe’s most influential players in the European cannabis industry.
The German government has announced that they are going to re-start their cannabis cultivation tender as the UK’s Advisory Council the Misuse of Drugs recommends rescheduling some cannabis-based medicines. Prohibition Partners’ European Cannabis Report™ predicts that Europe's legal cannabis market will be worth €115 billion within 10 years.
MGC Pharmaceuticals secure a European cannabis manufacturing license for a facility in Slovenia, whilst elsewhere, XHemplar plant up 25 acres of ‘cannabis light’ in Italy. Meanwhile, Genetically modified cannabis may be close to a breakthrough, and Prohibition Partners announce the release of The European Cannabis Report™ 3rd Edition.
Crop signs an agreement to cultivate over half a million square feet of ‘cannabis 'light’ in Italy, while elsewhere Maricann receives a letter of intent from Malta Enterprise, allowing them to move ahead with licensing. Meanwhile, Switzerland’s government proposes medical cannabis pilot programmes and the UK opposition calls for cannabis decriminalisation.
Aurora becomes the first licensed supplier to the Maltese medical cannabis industry, while Canopy CEO Bruce Linton suggests that future of cannabis may be as product, not as a commodity. Elsewhere, Luxembourg votes in favour of legalising medical cannabis, as Britain inches closer to a regulated medical market.
The UK prepares for cannabis reform after a landmark week in the news, and a number of high-profile medical cannabis cases. Meanwhile, Malta issues its first import licence to Aphira subsidiary, ASG Pharma, and Speakeasy Cannabis Clubs look to expand into the German market.
Parisians line up to buy low-THC ‘cannabis light’ in newly opened store, while German insurers release their first insights into the business of covering medical cannabis. Elswhere, UK border force confiscates ‘openly smuggled’ cannabis oil from Charlotte Caldwell, as she attempts to treat her severely epileptic son.
A new study finds that legalising cannabis could boost UK tax revenue by up to £3.5 billion per year, while the global drinks industry, suggests cannabis is its single biggest threat. Meanwhile, after weeks of raids, Denmark’s Freetown Christiania market finally concedes and stops selling cannabis. Also in the news is an early test suggesting that cannabis could effectively treat symptoms of Lyme disease.
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.
On the whole, public policies in the Nordic countries are usually informed by modern science and human rights. Drug policy is, arguably, the notable exception. Current cannabis laws in Norway are not based on any real science of humanism but largely as a result of the fearmongering rhetoric of the 60s and 80s. However, as much of Europe rolls back the embargo on medical cannabis, Norway is looking to differentiate itself from the typically repressive Scandinavian cannabis policies.
Estonia is starkly juxtaposed with the rest of Europe in the medical cannabis space. On one side, the state are surprisingly keen to implement some form of medical cannabis system but on the other, caution and anxiety pervade mainstream public opinion on cannabis reform.