The European Cannabis News – Quality cannabis offerings and new recreational attempts begin
Aphria has Europe in its sights
Cannabis giant Aphria told Barron on Monday that the ongoing high quality cannabis deals in Europe will help them find a good stand on the continent. According to Irwin Simon, the current high-quality MMJ deals in Europe pave the way for Aphria to strengthen its presence in the US while putting it on par with regulators in Europe.
Aphria will complete its merger with Tilray soon this quarter, and the resulting company will be the world’s top-selling cannabis company. They will market products in the United Nations, Luxembourg, Poland, Sweden and China, although ongoing business is also being discussed in India. Aphria’s market capital is currently around $ 5.1 billion. They are known in the industry as the first Canadian cannabis company to generate net profits.
“Europe is more advanced in many ways,” explains Simon. “There is a lot to learn to take away from Europe that we will ultimately bring to the US once legalization takes place here.”
“I’ll try to find the right multistate operator as soon as I know what the market is going to legalize or how the market is going to be legalized in the US,” says Irwin. “I’d rather have to pay a little more if I can get into a business where the facts are known.”
The European legal cannabis market is expected to reach 3.2 billion euros in 2025
According to the European Cannabis Report: 6th Edition by Prohibition Partners, the legal cannabis market in Europe is expected to reach EUR 3.2 billion by 2025, after the average annual growth rate was estimated at 67.4%. According to the report, 600,000 people in the continent used cannabis drugs for the first time in 2020, increasing the profitability of the drug.
Germany remains the largest legal cannabis market in Europe due to progressive rules and a large, affluent population. They make up more than half of the market and will continue to do so by 2024. In addition, imports of medical cannabis to Germany increased by 37% in 2020, with a total of 9.3 tons of pot entering the country.
The report also estimates that by 2025 the UK and France will have more developed laws that will allow more patients to access the medicine. By then, large nations like yours will make up a significant portion of the market. Experts believe the UK medical cannabis market could see the most promising growth in any European country in 2025 if regulations in the UK continue to go as planned.
They find that the market in Europe is strictly medical as no country has legalized recreational use yet. However, they are seeing a shift over the next four years as more countries come up with the idea of legalizing adult marijuana. Prohibition partners also identify many countries in Europe that are most likely to legalize recreational cannabis by 2025, such as the Netherlands, Germany and Switzerland. In this case, adult cannabis sales could reach more than EUR 500 million in 2025.
“Europe is beginning to realize its potential as the world’s leading cannabis market. Tremendous progress has been made in patient access and cannabis education since the first edition of the European Cannabis Report, published 4 years ago. We are only at the beginning of our cannabis journey in Europe, but there is an irrefutable impetus to become the largest cannabis market in the world. It’s only a matter of time. The 6th Edition of the European Cannabis Report does an excellent job of keeping the reader informed of the status of the industry in Europe, providing the context for growth and setting the roadmap for everyone involved, ”said Stephen Murphy, CEO and Co-Founder of Prohibition Partners.
Swiss government provides details of the recreational cannabis study
The Federal Office of Public Health (FOPH) has published details of the draft plans to legalize recreational cannabis for a trial. With the current plan, the tests will be carried out from May 15, 2021 and will continue until May 2031 at the latest.
Switzerland and the Netherlands are testing adult care systems in Europe. However, Switzerland will be the first to plan to allow a fully legalized supply chain for recreational cannabis, reports Prohibition Partners. The pilots will be limited to one parish and last 5 years, although there is an option to extend them for an additional 2 years.
Initiators of the pilot should also monitor the health status of every participant who visits doctors to support this. Cannabis can be made available to a maximum of 5,000 registered participants, and outlets should be approved in advance by the FOPH.
France begins two-year MMJ trials
Late last month, the French government launched a nationwide initiative that would allow 3,000 patients to use medicinal cannabis. The studies will run for 2 years and this will eventually lead to the legalization of the drug.
The patients and their health are monitored by a medicine guard. The main purpose of the experiment is to collect data on the safety and efficacy of cannabis. It will also give them time to prepare the logistics needed for future distribution, the Ministry of Health said in a statement.
Eligible patients include cancer patients, nerve pain unresponsive to other treatments, certain types of epilepsy, and patients in palliative care.
According to the European Monitoring Center for Drugs and Drug Addiction, France had the highest cannabis use in Europe in 2018, as 21.8% admitted using it in the last year, followed by Spain. For this reason, the chairman of the French parliamentary committee, Jean-Baptiste Moreau, believes that cannabis should already be legalized as it would put a brake on the black market. In the meantime, the ongoing trials would allow the government to properly plan the structures required for medical legalization.
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