International Cannabis Weekly: 14

• MMJ PhytoTech has received a ‘Free Sale Certificate’ in Germany, enabling sales of their cannabinoid food supplements.
• Israel’s Therapix Biosciences have developed a cannabis-based drug that is showing promise for cognitive decline.
• Potent anti-inflammatory properties mean cannabis is becoming the beauty industry’s hottest trend.
• There is significant clinical evidence for the benefits of medical cannabis which is being reflected in the investment sector.

• Could a government as conservative as the UK’s look to cannabis reform to win over young voters?
• Switzerland continues to keep pace with progress as it decriminalises cannabis possession in small amounts.
• There could be a breakthrough in the Baltics as Lithuanian MPs move to legalise medical cannabis.

GERMANY LEADS THE EUROPEAN MEDICAL CANNABIS MARKET

The New Opium Act was implemented in the Netherlands in 1976, which was to lead the way for the so-called ‘Policy of Tolerance. Initially, the policy was meant as a first step towards full regulation on soft drugs – although here we are 40 years later with very little progress.

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Europe’s cannabis market is a green-field environment for entrepreneurs and investors alike. Currently, the global charge is being led by North America. The size of the legal market in the U.S reached $7bn in 2016 and is predicted to grow to over $50bn within the next 10 years.

Europe’s recreational cannabis economy (although mostly illegal at this point) has an estimated value of €18bn. Taking is figure into consideration – and using the success of the current Canadian market as a precursor – it’s not unreasonable to predict that a legal cannabis market in Europe would be one of the fastest-growing and most lucrative economies in the world.