International Cannabis Weekly: 299

NEW ADULT-USE CANNABIS TRIAL APPROVED IN SWITZERLAND

Around 6,000 Swiss citizens will soon have legal access to adult-use cannabis after officials approved a new pilot project this month. But patients say they are still struggling to get the medicinal products they need.

The Swiss Federal Office of Public Health has given the go-ahead for a fifth pilot project monitoring the sale of adult-use cannabis products in another step towards policy reform.

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FRANCE BECOMES THE LATEST EUROPEAN COUNTRY TO BAN HHC

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LEGAL CANNABIS SALES IN THE US GENERATE US$15 BILLION IN TAX REVENUE

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• Medical cannabis ‘really important’ after Germany serves entree on recreational market.
• Maltese government discusses regulation of cannabis clubs with the International Narcotics Control Board (INCB).
• Medicinal cannabis shows considerable promise in a number of conditions based on the latest UK data.
• DanCann Pharma announces OCT has obtained approval for conducting clinical trials from MHRA.
• Spain’s Minister of Health states medicinal cannabis will be regulated as soon as possible.
• European researcher discusses the future of cannabis medicine and the importance of real-world data in drug development.
• Grow Group seeks to attract more investors to support its approach to medical cannabis trade finance.
• Ireland’s Citizens’ Assembly on drugs to recommend decriminalisation as members advocate public health approach.

BUSINESS OF CANNABIS: NYC SESSIONS – TICKETS PRICES RISE NEXT WEEK

The next instalment of Business of Cannabis: NYC Sessions takes place on June 7 at Work’N’Roll’ in Chelsea. Join us for an intimate night of talks, networking, an open bar providing beer and wine all night, plus a dedicated cannabis consumption lounge. Ticket prices rise on Wednesday May 24 at midnight (EST). 

Whilst licences are finally being issued in New York, grey market operators are still taking a big slice of the pie. How are the first legal dispensaries to enter the industry faring? How will the next wave of operators perform? How soon until we see progress in regard to consumption spaces?

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• Pennsylvania launches initiative to support the development of regional supply chains for a wide range of hemp outputs.
• Senator calls for industry to have access to Small Business Administration services in response to banking bill amendment.
• Co-Founder of Ben & Jerry’s launches new non-profit cannabis company to help social causes.
• Cannabis regulatory agencies and advocates discuss future steps for interstate commerce.
• Ayr Wellness announces its 2023 first quarter business results with 4% revenue increase.
• Cannabis legalisation and rising acceptance of its use for medical purposes drive market growth.
• Hemp vision for the 2023 Farm Bill falls short of what is needed to ensure a safe and productive future.
• Stocks of cannabis tumble after Senate hearing on the SAFE Banking Act discussed.

• Delta 9 announces significant first quarter business results with 35% increase in net revenue growth.
• Heritage Cannabis partners with TobaRolling for centralised distribution and sales support in the province of Manitoba.
• Canadian cannabis company Decibel, who are also active in Israel, become leader in sales.
• TerrAscend, a leading North American cannabis operator, reports 1% revenue lift in first quarter.
• Avicanna announces revenue increase in first quarter as it expands medical cannabis sales in Canada.
• Heritage Cannabis enters recreational cannabis-infused beverage market in Canada.

GERMANY MAINTAINS POSITION AS LARGEST EUROPEAN CANNABIS MARKET

Germany is the largest European medical cannabis market and the findings reveal it overwhelmingly relies on imports to supply its market and that a significant proportion of German imports are re-exported to other European countries. German medical cannabis imports are a reliable bellwether for the European market as a whole.

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• Secretary of Agriculture and Supply of São Paulo supports implementation of cannabis policy for economic growth.
• Therapeutic cannabis wins parliamentary front in RS Promotion of research and distribution of plant-based medicines.
• Clever Leaves obtains GMP certification from Brazilian authorities, enabling company to supply cannabis to patients.
• Cannabis production continues to expand in the mountains of the southwestern Colombian department of Valle del Cauca.

• WA firm Cannaponics hits maximum target of A$5 million from 2,771 investors via crowdfunding campaign.
• Vitura Health joins Releaf Group in a move that provides more prescribers, products and dispensaries.
• Legalising cannabis in WA could lead to an annual gain of A$243.5 million in the first five years.
• ASX cannabis stocks become popular investment opportunity due to new legalisation developments.
• Cook Islands’ secretary of health states medical cannabis products could be available by June.
• Cannasouth receives Licence to Manufacture Medicines to produce dried cannabis flower as its cultivation facility.

• PharmaCielo makes its first shipment of CBD isolate to a speciality biotechnology company based in South Africa.
• Police enforcement increased as Uganda Constitutional Court overturns drug ban following successful action by activists.
• Cigarette giant Globrands brings vaporiserd pens with CBD to market in Israel.
• More than RWF759 million has been allocated for implementation of medical cannabis project in the next financial year.
• Zimbabwe poised to become one of the biggest producers or exporters of cannabis in Southern Africa.
• Chairman of health committee delays discussion on reform regarding approval of ‘cannabis with a doctor’s prescription’.