International Cannabis Weekly: 292
Highlights
AVAILABLE NOW | THE EUROPEAN CANNABIS REPORT: 8TH EDITION
The European medical cannabis industry has seen steady growth over the past year and it is projected to reach over €550 million in sales by the end of this year. The UK is set to become the second-largest European market over this time, as has been long-predicted by analysts.
The European CBD market remains complex, and in some aspects opaque, but increasingly the picture is becoming clearer. The normalisation of various channels of the industry is slowly moving forward, though the wait for novel food authorisations continues. The combined market size of all CBD categories in 2023 is over €2 billion.
Four European countries are in the process of developing regulatory models for an adult-use cannabis market; Germany, Czech Republic, Switzerland and the Netherlands. These early adopters are likely to set a precedent for other countries to follow, and may well form the blueprints for a European adult-use cannabis market.
LEGALISATION IN GERMANY ‘NOT FEASIBLE IN THE SHORT TERM’
UK FSA HAS ADVANCED NEARLY 3,000 CBD PRODUCTS TO THE SECOND STAGE FOR APPROVAL
Highlights
Europe
- Luxembourg cannabis query, Hungary in dock for cannabis breach. The European Cannabis Round-Up.
- Members of the Luxembourg cabinet hopeful for a vote on home cultivation before October.
- Little Green Pharma, which provided up to 60% of the products, has pulled out of France’s medical cannabis experiment.
- The construction of a new Bedrocan production facility in Denmark doesn’t mean departure from the Netherlands.
- The UK is set to become the second largest medical cannabis market in Europe this year.
- The highest average metabolite found for THC-COOH was measured in Geneva, Switzerland.
- The next steps towards legalisation will be revealed shortly by the German federal government.
- The Ministry of Health in Austria has announced that HHC would be banned from 23 March 2023.
- UK medical cannabis patient numbers could surge in 2023, but supply remains ‘inconsistent’.
Highlights
Upcoming Event
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Highlights
Stocks
Highlights
United States
- Curaleaf Holdings, Inc. announces that it has entered into a definitive agreement to acquire Deseret Wellness.
- Recent studies find CBD may help curb opioid cravings and enhance the effects of the opioid antidote, naloxone.
- Texas agriculture officials have approved hempseed-derived feed and authorised the state feed agency to set regulations.
- South Carolina medical cannabis legalisation bill’s fate in question, but supporters are making a last-ditch push.
- PVJOBS awarded US$6 million CalVIP grant to expand job training and placement services in cannabis industry.
- AYR Wellness Inc. announces that it has closed the definitive agreement to sell Blue Camo, LLC.
- Maryland Senate will vote on cannabis sales bill this week as lawmakers consider hemp industry input.
- RS BioTherapeutics raises more funds to advance cannabis-based therapy for lung diseases.
- BLAZE Cannabis Retail Software announces sustained pattern of growth in 2022 and into 2023.
- Herbies Seeds is now launching an express delivery service for its US customers.
- Marvina Thomas announces acquisition, to become first black woman to own and operate an Arizona dispensary.
- The Bad River Ojibwe Tribe in northern Wisconsin is opening a retail cannabis business on the reservation.
Highlights
Canada
- New images taken by the Canadian Synchrotron Light Center in Saskatoon will likely help cannabis researchers.
- Health Canada is seeking feedback on potential amendments to the Cannabis Regulations around licensing and more.
- Canada’s Shoppers Drug Mart is handing over the reins of its cannabis vertical to this biopharma company.
- Statistics Canada released January retail sales for the country, with cannabis sales falling from the inflated December levels.
- Canada House Cannabis Group reports Q2 fiscal year 2023 financial results with quarterly net profit.
- The Nasdaq Stock Market LLC advises that Aurora Cannabis Inc. was not in compliance with a Nasdaq Listing Rule.
Highlights
Reports
ACCESS PREMIUM DATA WITH THE EUROPEAN CANNABIS REPORT: 8TH EDITION
As well as the free-to-download version of The European Cannabis Report: 8th Edition, there are Premium Packages available that provide additional specialist information and data analytics to help connect with the industry, make smarter decisions, maximise marketing impact and improve business performance.
In addition to market sizing data for CBD, medical and adult-use markets in Europe, there is also an exclusive European Adult-Use Cannabis Report also available for purchase, which deep dives into developments in Germany, Czech Republic, Switzerland and the Netherlands.
Highlights
LATAM & The Caribbean
- Andréia de Jesus (PT) seeks to introduce a policy in Brazil for the free supply of cannabis-based medicines.
- The 3rd Brazilian Congress on Medicinal Cannabis Law took place in Brazil on 29 March.
- Is Argentina the next green frontier? Here’s why it’s bound to become a global player in cannabis.
- Colombian lawmakers advance cannabis legalisation bill, aiming for enactment this year.
- Hemp industry diversifies in Ecuador: creams, oils and coffee are made from cannabis.
Highlights
APAC
- Save A$100 on a three-day pass to the Australian Medicinal Cannabis Symposium in August.
- The Taliban has recently enacted a law banning the cultivation of cannabis and hemp across Afghanistan.
- Cantourage UK and CannFX deliver the first ever medical cannabis flower from New Zealand to the UK.
- Lyphe Group ramps up local operation with plans to replicate UK success in Australia.
- Rua Bioscience vows to continue product supply despite taking axe to local manufacturing.
Highlights
Africa & The Middle East
- The Tikun Olam Cannbit company lost tens of millions of shekels within a year and its future is unclear.
- Cannabis industry plans for South Africa have stalled – how to get them moving again.
- The South African cannabis industry is estimated to be worth R406 million by 2026, up from R87 million in 2021.
- Christina Lake Cannabis Corp. announces that the company has signed a supply agreement with MG BioTech Ventures.
- IM Cannabis reports fourth quarter and fiscal year 2022 financial results; revenues in 2022 increased 60% year-over-year.
Insights
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