International Cannabis Weekly: 326

ILLICIT CANNABIS MARKET IN EUROPE WORTH €11.4BN, REPORT FINDS

The European Monitoring Centre for Drugs and Drug Addiction (EMCDDA) report finds that the illicit market has served 22.6m Europeans over the past year and raises a number of additional concerns, including the sharp rise in THC potency.

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MEDICAL CANNABIS LEGALISATION IN UKRAINE DELAYED BY OPPONENTS

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PUBLIC CANNABIS COMPANIES SEE ‘SLUGGISH’ REVENUE GROWTH IN Q3 2023

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• Government officials from the US meet in Germany to discuss international cannabis policy.
• The government in Czech Republic is considering stricter regulations for CBD and Kratom.
• The first medicinal cannabis to be grown on the Island of Jersey has been exported to the UK and German markets.
• The CBD Show in the UK has been accused of being a ‘scam’ after venue confirms no event is due to take place.
• Cantourage Group reports ‘significant revenue growth’ so far in 2023, as Q3 results are released.
• Leading medical cannabis producer and distributor PHCANN International has appointed a new CEO.

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• Cannabis companies in Missouri have sold and dispensed over US$1 billion of products so far in 2023.
• New York’s Cannabis Control Board (CCB) votes to impose cap on THC levels in hemp products.
• Hawaii’s Attorney General reveals draft of adult-use cannabis legalisation bill, with varied responses from advocates.
• Wisconsin Senator launches a petition for a hearing on adult-use cannabis legalisation.
• Missouri emerges as the newest battleground in the debate over hemp products with high THC levels.
• An education program for cannabis dispensary workers is proposed in South Dakota.

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• CA$60 million in cannabis fees have been collected by Health Canada so far in 2023.
• Ontario court approves settlement agreement to Auxly Cannabis Group Inc. class action.
• Indiva achieves historic earnings, driven by ‘soaring demand’ for cannabis edible products.
• Canadian cannabis company Canopy Growth says it has found a buyer for its Biosteel sports drink business.
• AgriCann announces Cannabis 2.0 licence and launches key brands through its subsidiary Newline Ventures Inc.
• Apollon Formularies Nears Deal with Sproutly, Signals Potential Agreement on the horizon.

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• A new study has found that regular cannabis consumers demonstrate a greater empathy towards others.
• Eurofarma’s entry into the promising medical cannabis market in Brazil causes a stir.
• Lawyers challenge the Federal Council of Veterinary Medicine on the medicinal use of cannabis for animals in Brazil.
• The appointment of new president Javier Milei could have ‘important implications’ for the cannabis industry in Argentina.

• Concerns about how to regulate cannabis effectively have been raised in Thailand after 6,000 stores open.
• The first New Zealand-branded medical cannabis products are set to launch in Australia ‘imminently’.
• Survey reveals one-in-12 Australians use medicinal cannabis as public perception changes and acceptance grows.
• Syqe Air receives medical device approval in Australia and could be acquired by Phillip Morris for $600m.

• Cannabis possession and cultivation bill approved in South Africa – years after prohibition deemed ‘unconstitutional’.
• A debate on the Drug Law in Liberia resurfaces on the Senate’s agenda despite being signed into law in July.