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International Cannabis Weekly: 260

August 12, 2022

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FIRST SPEAKERS ANNOUNCED FOR BUSINESS OF CANNABIS: NEW YORK

The first wave of speakers has been announced for our second event of Business of Cannabis: New York on 3 November.

In what will be the first of many announcements, we are proud to have Tremaine Wright – Chair of the Cannabis Control Board, Fab Five Freddy – Artist and Filmmaker and Christopher “CJ” Wallace – Founder & Creative Director at Frank White / Think BIG join us in NYC. See the full list of speakers by clicking the link below.

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UK PATIENTS STILL TURNING TO ILLICIT CANNABIS MARKET DESPITE 17,000 PRESCRIPTIONS

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CURALEAF TAKES MAJORITY STAKE IN GERMANY’S FOUR 20 PHARMA IN €20M DEAL

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Europe
  • AYouGov data reveals Britons are not in favour of criminalising people who use drugs.
  • Switzerland has relaxed its restrictive access to medical cannabis and could soon be exporting high-quality flower.
  • The UK’s APPG on CBD has suggested that farmers could grow hemp on 220,000 hectares to generate £5 billion.
  • The Spanish General Council of Official Colleges of Physicians has said that it plans to train doctors in cannabis.
  • Sanity Group is launching a recipe innovation that is intended to open up possibilities in cannabis therapy.
  • Akanda Corp is set to supply Cansativa with premium indoor cannabis flower, grown at its facility in Portugal.
  • Stenocare plans to expand its offering as it sees its stock price jump to double digits.
  • In Slovenia, Dr Dusan Nolimal, a public health expert, has asked the government to pass cannabis reform.
  • Pharmasimple announces that it has taken a 5% stake in Phytocann Group, a specialist Swiss CBD company.
  • Germany’s CC Pharma has founded a new subsidiary named ‘1 4 U Pharma’, which will offer medical cannabis.
  • Khiron Life Sciences has completed the acquisition of German Pharmadrug Production GmbH.

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Stocks

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United States
  • The House Subcommittee on Horticulture has been looking at how the Farm Bill could affect CBD producers.
  • Opportunities to study cannabis are now opening up as an increasing number of jurisdictions legalise the plant.
  • A new study shows that medical cannabis use amongst women in the US to manage menopause is increasing.
  • Acreage Holdings has released its second quarter 2022 financial results, as revenue increased 39% year-on-year.
  • Glass House Brands has acquired the remaining equity of The Pottery, a Los Angeles dispensary.
  • The Oglala Sioux Tribe has embraced recreational cannabis sales, whilst alcohol is still prohibited.
  • One in four Los Angeles cannabis retailers is raising prices to tackle the rising cost of inflation.
  • New Mexico’s Cannabis Control Division has revealed a record-breaking US$40 million in sales for July.
  • Medical cannabis is edging closer in Alabama, where the AMCC will offer 12 cultivator licences.
  • Illinois has begun issuing new adult-use dispensary licences, focusing first on social equity groups.

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Sponsorship

Join our headline sponsor Leafly, as well as sponsors Headset and Pelorus Equity Group to put your business at the forefront of the cannabis industry. Sponsoring Business of Cannabis: New York on 3 November will help to elevate your brand in front of the people that can push your business forward.

Position your brand at the forefront of the North American cannabis market and get in front of a dedicated B2B audience in the global cannabis industry.

BECOME A PONSOR »

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Canada

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LATAM & The Caribbean
  • Guyana has passed legislation to allow the cultivation of industrial hemp with a concentrate of no more than 0.3%.
  • The cannabis legalisation project in Belize is on hold due to concerns raised by the banking community.
  • Khiron Life Sciences announces the opening of Brazil’s first Zerenia clinic in Rio de Janeiro.
  • Paraguay is progressing with cannabis legalisation, whereas Colombia looks to regulate the adult-use market.
  • Dominica’s prime minister, Roosevelt Skerrit, wants to decriminalise the purchase of cannabis locally.

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New Report

As highlighted in The North American Cannabis Report: 3rd Edition, adult-use cannabis sales in the US are expected to from US$18.5 billion to US$58.8 billion by 2026 and in Canada the market is expected to grow from US$4 billion to US$7.6 billion in the same time period.

Anticipation is highest for the Northeastern states in the US. New York’s incoming adult-use mega-market isn’t going to be ready until 2023 at the earliest, according to regulators. With medical sales reaching US$467.2 million in the state in 2021, it should be worth the wait: Prohibition Partners projects the market will reach nearly US$1.5 billion in its first year of sales, and US$2.87 billion by 2025.

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APAC
  • Support is growing for a parliamentary bill to legalise medical cannabis in the Philippines.
  • The Fiji hemp industry can soon get underway after the recent passing of legislation.
  • New Delhi-based start-up HempStreet has developed a new partnership with Amrita School of Ayurveda.
  • A three-year neuropathic pain study has shown that medical cannabis could help thousands of Kiwis every year.

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Africa & The Middle East
  • The Mental Health Authority has hailed the Supreme Court’s ruling on cannabis cultivation in Ghana.
  • The Tel Aviv Cannabis Index, made up of Israel’s largest cannabis stocks, will soon cease to exist.
  • After a stagnant first half of the year, the numbers of medical cannabis patients are increasing again in Israel.
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