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As Cannabis Insurance Reimbursements Spread Across Europe, Where Does That Leave US And Canada?

Written by Marguerite Arnold on . Posted in Medical.

Across Europe, patients are winning battles for their right to free or insurance-reimbursed cannabis care. What does this mean for North America?

According to the Italian press, a Sicilian woman with MS, Loredana Gullota, received her first fully reimbursed cannabis prescription recently. She is the first patient in the region to obtain the same, despite the fact that the decree to mandate coverage was approved by the regional health system a year ago. According to doctors, this means there are now 5,000 patients across the island they can start to prescribe for – their reluctance so far being cost. The average patient could not afford the monthly fees ranging from 300-1,500 euros.

In Germany, right next door, cannabis prescriptions continue to increase, in part because there is a growing understanding about the drug – and thanks to a national training program that has now been launched on the municipal level to target doctors. This is also true of Luxembourg, where the medical training program is clearly also paving the way for a recreational market to start presumably sometime next year. France is running its medical trial. And other countries are now being pulled along – even the beleaguered NHS is considering ways to make good on the prescriptions it has issued so far (even though there are few of these in the UK either).

But with all this growing enthusiasm on the continent, where does this leave the question of reimbursed cannabis in the United States and Canada – the home of cannabis reform, broadly.

Broader Healthcare Provision Is One Avenue To Greater Reform

There is a certain amount of good news here that can fairly easily bounce internationally if the Biden Administration is bold enough to seize it. Namely, the United States specifically has an opportunity to create a state-based agricultural market that can supply and fund its own healthcare funds. In turn, more people being included again in a semi-public option that also includes cannabis care might be just the ticket that the rest of this conversation really needs to get recreational over the line in the coming years.

In Canada, the lack of enthusiasm for including the drug as part of normalized healthcare provision so far has mostly come from doctors and mostly because of the lack of studies and information available. That is likely to also begin changing as more data is available from Europe.

Ultimately, it will be the medical market in Europe that undergirds other kinds of reform – as elsewhere. And so far, with the exception of the Dutch, this is happening, even if achingly slowly, country by country.

Be sure to book your tickets to the next International Cannabis Business Conference – returning to Europe Summer 2021!

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The Opportunity Of Cannabis Funds And Stocks On The London Stock Exchange

Written by Marguerite Arnold on . Posted in Business.

With MCG Pharmaceuticals becoming the first cannastock to list on the public exchange in London, and a plethora to follow in the coming weeks, what is the potential for a hot finance market blooming post-Brexit?

Even the Financial Times is excited about this one – the LSE is finally opening to cannabis stocks. Post-Brexit, the need to raise funds both to nourish the domestic market and to access the European one, will be critical. 

However, the question remains, despite the ability to raise money (as in Canada and the U.S.), will the cannabis firms who rush to access such equity here use it any more efficiently than say their Canadian forebears?

Undoubtedly, the forward march of progress on the legislative front means that broadly the answer will be yes. That does not mean of course, that all the froth is gone from the market. But what it does mean is that London now has a viable market in which to raise funds for the industry at home and for operations across the continent. And the exchange may well, as a result, be a serious competitor for the Deutsche Börse. The fact that London is getting going with its own canna-equities offerings is also likely to stir the still fairly dormant conversation across the Channel – namely in Frankfurt.

By anyone’s standards, in other words, this is an exciting and much overdue development and promises a healthy injection of cash into an industry now chomping at the bit to roll out new products in the wake of reforms enacted during the Pandemic.

British Equity Is Needed in Several Places

There are several places that all this equity can flow. The first is obviously to established international firms (like MCG Pharma) with a footprint and a path to entry in the growing medical market across the continent.

The second, of course, is into burgeoning start-ups that are eyeing the current environment and beginning to think about strategic next steps in a world post Pandemic.

It is highly likely that Germans will want to see greater reform and push the agenda as the country prepares to go to the national polls. It is also highly likely that other Europeans will too. Beyond Europe, there are obviously other exciting possibilities ranging from Asia to Africa. The LSE is far from as sluggish as its European counterparts generally.

Accessing equity, in a way that is far more familiar to both North American and British firms becomes, as a result, even more important. This is, in other words, perhaps one of the rocket boosters the industry has long needed across the region. 

Be sure to attend the International Cannabis Business Conference when it returns to Berlin this summer to get the hottest insights on the developing European cannabis equities market.

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French Government Picks Six Companies For National Medical Cannabis Trial

Written by Marguerite Arnold on . Posted in Medical.

For all the foot-dragging, the French appear to be on track for what appears to be the largest, organized national trial in Europe.

It is hardly surprising, and for a number of reasons, that the French have finally stepped up to the plate on the medical cannabis discussion. After all, the WHO ruled that the drug was not a Schedule IV last December, right around the time that the European Commission voted that CBD is not a narcotic. This is now an unavoidable topic in every European capital.

However late they may be to this particular discussion, however, the French also seem to have learned a few lessons from neighbouring countries (including right next door in Germany) on how to proceed with this perennially sticky wicket.

As the Dutch government retreats in a fumbled recreational trial, and the German cultivation license holders have (yet) to produce at full speed, the French decided to take a different tact. Namely, they announced the launch of a national trial (much delayed) at the end of last year. There are to be 3,000 patients. And, here is the rub, participating companies must provide both product and vapes, for free.

Which Companies Will Be Participating?

There are six companies who have now been picked for selection in the French trial as announced in late January by the ANSM (the French agency of Medicines and Medical Devices). Their names will sound familiar to anyone who has paid attention to the global industry over the last few years. Like the German tender, several of the participants are from Canada (Aurora and Tilray/Aphria which are also both German bid winners). Australian firms Althea and Little Green Pharma were also chosen, along with the Israeli Panaxia and the UK based Emmac Life Sciences.

All of the product will be imported as the cultivation of cannabis is currently still illegal in France.

European Implications

With France now admitting that cannabis has medical efficacy, the second-largest economy in the EU has now signed up to moving forward on reform. Even if behind other places in Europe.

This also means that the next question is now, inevitably, in the room, and across Europe. When does recreational reform finally come here?

That topic is also on the table, inevitably, as COVID-19 restrictions begin to lift.

Be sure to book your tickets to the International Cannabis Business Conference this summer, when the conference returns to Berlin.

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Amsterdam’s New War On Its Pot Shops

Written by Marguerite Arnold on . Posted in Politics.

As the first federal Dutch cannabis cultivation bid goes down in flames, Amsterdam city officials propose banning tourists from its cannabis cafes.

Long the progressive cannabis outlier during the 1980’s and 1990’s, even if operated in a grey area, Amsterdam if not Holland beyond that, gave the world a first look at what a relatively open cannabis industry might look like.

In this century, however, the Dutch have lurched from one unsuccessful campaign to the next to better regulate the industry – and so far have only included imposing regulations that have drastically shrunk the number of coffee shops but not consumers. While some of these campaigns, such as closing down cafes that operated near schools were noncontroversial, the current proposal – to ban all tourists from Amsterdam’s coffee shops just announced last week – makes little sense. Not to mention has little chance of succeeding.

Coming as it does on the heels of tighter lockdowns in Europe that will also begin to lift again this spring, as well as the failed first cultivation tender in the country, it is also clearly a short-term political play meant to impose long-lasting limits.

Of course, this latest move has not gone unopposed. The business association representing the coffee shops, the BCD, has begun lobbying hard against the ban as has the national PCN representing cannabis businesses across the Netherlands. They are joined by several policymaking non-profits who have focused on cannabis.

Their advertisement against the ban points out that restricting tourist access will not be successful (it never has been before). It also pointed out the difficulties faced by non-Dutch legal residents. As the industry-backed ad summed up the issue, “The coffee shops are not the enemy, but an essential facility and an effective ally in the fight against illegal drug trafficking in the city.”

Whither Next?

This development is unlikely to be entirely divorced from the recent failure of the Dutch cultivation bid. It is also clearly a short-term play by officials to try and nail an ever-present thorn in their sides by attaching an idea born of a Pandemic that will never hold water after it.

It is unlikely, in other words, that cash-starved retail businesses of any kind, will, or should be placed in the position, of turning down customers, no matter where they hail from.

Stay tuned. The next steps are likely to be very interesting, especially at a time when several European countries are moving forward on the recreational cannabis discussion.

Be sure to attend the next International Cannabis Business Conference this summer in Berlin to find out all the latest developments on rapidly changing European cannabis policy.

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A Missed Cannabis Reform Opportunity In The Czech Republic

Written by Johnny Green on . Posted in Politics.

Being able to cultivate cannabis legally is a right that a growing number of adults in various parts of the globe are being afforded. With that being said, cultivating a personal amount of cannabis is still prohibited throughout a vast majority of the world.

The cannabis plant has grown all over the world for many centuries, and humans have benefitted from its wellness properties, so it is odd that its cultivation would be prohibited.

Unfortunately, the reality of the situation is that laws still have to be reformed all over the planet, including in the Czech Republic where a home-grow proposal was recently voted down by the Chamber of Deputies. Per BRNO Daily:

In a vote on January 26th, the Chamber of Deputies rejected a proposal to loosen cannabis laws in the Czech Republic, put forward by 40 deputies from six different parties. The bill was strongly supported by the Pirate Party, but was eventually rejected by 55 of the 89 deputies present.

Under current Czech law, cultivating up to five plants for personal use is decriminalised, but is still a civil offence punishable by a fine. The proposal would have allowed citizens to keep five cannabis plants or 1.25 kilograms of dry cannabis legally, provided it was for personal use. Allowing others access to this personal supply would have been subject to a fine of up to CZK 15,000, though up to 30 grams could be given to others free of charge.

The current cannabis cultivation law is better in the Czech Republic compared to other countries, like in Japan where cultivation can carry a penalty of 7 years in prison.

However, that’s not to say that the law can’t be improved upon. The goal of the measure according to proponents was to diminish the unregulated cannabis market in the country, and allowing home cultivation would certainly help.

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Sri Lankan President Tasks Officials With Looking Into Cannabis Legalization

Written by Johnny Green on . Posted in Politics.

Cannabis legalization is about to expand exponentially across the globe in the coming years. So far only Uruguay and Canada have legalized cannabis for adult use, however, more countries are moving in that direction.

Mexico’s Supreme Court struck down cannabis prohibition in late 2018 and tasked lawmakers with implementing adult-use cannabis legalization. That is expected to finally happen in 2021 after several delays.

Israel is another country that is expected to legalize cannabis for adult use by the end of 2021. Only time will tell if that actually happens, but the odds look very favorable right now.

When it comes to cannabis legalization, one country that is probably not high on everyone’s radar, but should be, is Sri Lanka. Sri Lanka’s president recently tasked officials with exploring the benefits of cannabis legalization. Per Daily Mirror:

President Gotabaya Rajapaksa said a policy decision has to be taken to legalise the cannabis in Sri Lanka in order to develop it as a medicinal crop in the future.

The President was responding to a proposal made by an academic at his recent meeting of the series of programmes launched as ‘Discussion with the Village’ (Gama samaga pilisandarak), held at Aluthwewa Grama Niladhari Division in Thanamalvila, Monaragala on Saturday.

President Rajapaksa directed state officials to look into the avenues of creating a policy decision in this regard and was instantly briefed by the latter about the present situation in legalising the plant.

The cannabis plant has a long history in Sri Lanka, referred to there as ‘Kansa.’ Cannabis has historically been used in Sri Lanka in many Ayurvedic and ‘Hela’ medicines.

Hopefully that rich history, along with the clear benefits of ending cannabis prohibition, will push reform over the top in Sri Lanka sooner rather than later.

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Australian Pharmacies Can Now Sell CBD Without A Prescription

Written by Johnny Green on . Posted in Business.

Cannabidiol (CBD) is arguably the most popular cannabinoid on earth right now, even ahead of  THC. THC is obviously still very popular, however, CBD is searched for more often on Google than its cannabinoid counterpart.

CBD is being infused into just about anything and everything, for better or worse. Some CBD products make sense, such as capsules and topicals. However, some products out there such as ‘CBD firewood’ is a headscratcher for sure.

Regardless of the merits of some CBD products, the fact of the matter is that CBD is extremely popular, with more and more patients and consumers looking to CBD for wellness benefits.

In many countries, such as in the United States, CBD products can be purchased virtually anywhere. CBD-infused products are very commonly found around the world.

With that in mind, it is odd that CBD required a prescription in Australia, where reefer madness was preventing the non-intoxicating cannabinoid from being freely sold. Fortunately, that is changing. Per News.Com.Au:

Low-dose cannabidiol (CBD) can be sold in pharmacies around Australia from today, for the first time without prescription.

The chemical compound – extracted from cannabis – is used to treat a number of health issues, including pain, insomnia and anxiety, and can now be bought over-the-counter after the Therapeutic Goods Administration (TGA) approved its sale last month.

While the product will only be available to adults in doses of no more than 150 milligrams per day, patients will no longer require a referral or special approval for its legal use.

Ideally, there would be no limit on the amount of CBD that people can purchase without a prescription, but for now, this move by Australia is a great step in the right direction.

CBD does not possess the same euphoric-inducing qualities that THC does, and by virtually every measure it’s benign from a risk standpoint, so it doesn’t make sense to limit non-prescription sales to low-dose options only.

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Texas’ Hemp Industry To Experience Exponential Growth In The Coming Years

Written by Johnny Green on . Posted in Business.

The hemp industry is picking up steam around the world, with more and more countries legalizing hemp production for human consumption.

Hemp has been legal for making things like paper and rope in most countries, however, there were still a lot of restrictions in place in many countries due to concerns about high-THC cannabis.

Historically, reefer madness was so strong regarding the cannabis plant that lawmakers around the world refused to consider low-THC hemp legalization for the purpose of human consumption, out of fear that it could be used to ‘disguise’ high-THC cannabis plants, which is a fear that is not based in science.

Fortunately, the rise of CBD as a medicine across the globe has changed a lot of minds, and legal hemp production is being ramped up all over the planet.

One of those places is the State of Texas, which is geographically the largest state in the U.S. among the ‘lower 48 states.’ Converting farmland in Texas to hemp will not only help local economies but will also help the environment since hemp helps pull CO2 out of the air and removes contaminants from soil (among other benefits).

Texas’ hemp industry is still in its infancy, with state law only recently being changed in 2019. With that being said, Texas is likely to see exponential growth in the coming years now that the federal government has finally issued hemp industry rules. Per KXAN:

Texas Agriculture Commissioner Sid Miller says he’s pleased with the approval of federal rules for the industrial hemp program.

“This industry is booming and needs the certainty that comes with finalizing these guidelines,” Miller said. ”While hemp growers might not have gotten everything they wanted, I believe USDA has responded to the industry and is working to improve this program.”

“Here in Texas, we’ve been in the hemp business for almost a year and we’re busy building the Texas ‘hempire’ — we’ve issued over 1150 producer licenses, permitted over 5,000 acres of hemp in the ground and over 15 million square feet of hemp in greenhouses,” Miller said in a statement Tuesday.

Texas is well known for being a top petroleum and natural gas state, as well as being a national leader for cattle and other livestock. Unfortunately, both of those industries have a detrimental impact on the environment.

A strong hemp industry could drastically change the State of Texas’ future, in a great way.

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Ole! The Spanish Supreme Court Takes Aim At Barcelona’s Cannabis Clubs

Written by Marguerite Arnold on . Posted in Business.

The Spanish Constitutional Court has issued two rulings against the Barcelona club scene – but with a pending case in the EU’s highest court, does this really matter?

As 2021 dawns with sputtering hope of a revival of society, if not economies globally, it appears that authorities in Europe are taking on the issue of cannabis reform in a decidedly “old-fashioned” way. To date, only Holland has fully tackled the issue, and its first attempt at a national cultivation scheme has already fallen by the wayside. 

In Spain, the issue is front and centre right now, with a country that has seen its celebrated club culture essentially decimated by the various rules and regulations of lockdown. Beyond that, however, the “instigating” founders of the scene in the first place, are facing national jail time. Albert Tió indeed, turned himself in last December. His case against the Spanish national government is now pending in the European Court of Human Rights at Strasburg.

Reform, in other words, is a high profile issue.

To address that, the Supreme Court has made two decisions lately that directly affect the industry. In two decisions, that came right on top of each other the Court declared the City Council of Barcelona “lacks the competence” to regulate the clubs via municipal plans, and the 218 clubs it has registered for the purpose so far.

So far, the municipal authorities in Barcelona have not backed down. After all, they realize that Spanish authorities at the federal level are making a lot of noise over what could, legitimately, be nothing, given the pending EU court’s decision. Not to mention, as city leaders have already publicly pointed out, they are unwilling to revisit the matter until there is a federal solution, and in the meantime, there needs to be some kind of regulation.

Standoff city. Yet again.

A New Dawn For Spain in 2021?

There are about 1,500 registered clubs in Spain, with over 80% either in Barcelona or its outlying suburbs. The clubs employ about 7,500 people across the country. Each club has, on average, 3-400 members. Many clubs have either been shut down entirely or forced to operate in an even stranger, greyer, more precarious space since the beginning of the Pandemic.

With the new Supreme Court rulings, in other words, will at least a temporary additional level of complication, not to mention legal work, force that infrastructure to collapse?

It is clearly the goal of authorities right now. That, however, at least in the short term, is a goal they are unlikely to achieve. Cannabis has landed in Europe, and it is unlikely that it will be successfully rolled back, in Spain, or anywhere else for that matter as Luxembourg joins the conversation later this year.

Be sure to book your tickets for the International Cannabis Business Conference when it returns this summer to Berlin to get the latest on ever-changing European cannabis legislation and business environments.