European Cannabis News
How Will Brexit Affect The UK CBD Industry?
All the while the United Kingdom was a member of the European Union, they had to comply with certain laws and this is going to change after Brexit – affecting the cannabis industry as well.
Though many economists predict that once the UK exits the EU, this will have a negative impact on their economy, but believe that the CBD industry will be protected from it. In December 2019, Prohibition Partners published a paper called “The UK Cannabis Report,” where they detail the various aspects of the UK’s cannabis sector.
“Once the UK leaves the EU, the door may be opened to introduce edible brands,” they point out. This is interesting news as the UK has still not adopted the EU’s policy to rule cannabis-infused foods as a Novel Food, which meant that companies were required to obtain licensing to include it as an ingredient.
The UK wasn’t the only country that refused to actively enforce these rules.
But perhaps the biggest thing that UK citizens can look forward to, post-Brexit wise in the cannabis industry, is that there could be significantly more products on the shelves to look forward to. “Brexit gives us a chance to diverge (from European regulation) and gain a competitive edge,” says Blair Gibbs, former policy lead of the CMC and a government advisor.
The Netherlands Launches New Cannabis Strains
The Netherlands government will be purchasing new strains of medical cannabis to help their patients, who are encouraged to buy it at pharmacies now instead of their famous coffee shops.
To entice the purchase at pharmacies, two producers will be selling the cannabis at a cheaper price.
Patients can expect these new varietals at the Netherlands’ pharmacies starting the 1st quarter of 2021, after CannNext researches look into grow recipes and improving yields. This comes as no surprise as the EU nation has long been a pioneer in using cannabis for healthcare. Managing director of CannNext, Eric Uleman, explains: “A very limited number of medicinal cannabis varieties are currently offered. Patients have long indicated they want a broader selection, because just as with other regular medicines, the effect may differ per person. As a result, patients are forced to buy from coffee shops that don’t have medicinal standards and patients don’t have any supervision or guidance by a physician.”
“One of the goals is to redirect patients from coffee shops to doctors and pharmacies by offering enough variety with a consistent, biological and tested high quality at a low price,” he adds.
“The product offered must, just like now, met strict quality requirements of the government, such as no use of chemical crop protections, no pollution and clear origin of the product,” says Eric.
Berlin-Based Pot Firm Completes Largest Cannabis Financing Round
In yet another milestone in the EU cannabis industry, the Sanity Group, a medical cannabis and wellness firm in Berlin, just completed the largest financing round for any cannabis company in Europe so far.
Calyx, an EU-based investment fund that focuses on cannabis, led the round.
The two business units of Sanity include Sanatio, which distributes and imports medical cannabis, as well as Vaay, a brand focused on CBD and wellness products.
According to Sanity, they intend to become a major player in the EU and German medical cannabis markets. “Sanity Group is not only investing in the wholesale of medical cannabis but also in research, internalization, drug approval, alternative dosage forms, and the use of cannabinoids for wellness products, including cosmetics,” says Sanity’s managing director Finn Age Hansel.
Germany remains to be the biggest medical cannabis market in Europe, though they will remain dependent on the crop’s exports until the end of this year at the very least.
Recreational Cannabis Pilot Program of Switzerland Will Only Allow Organic Pot
Earlier this month, the lower house health commission of Switzerland’s government paved the way for a pilot program that will allow recreational cannabis to be produced and distributed. This is a long-awaited move but while it won’t be headed to full legalization, the trial’s results will be used to help shape cannabis policy.
“Despite the ban, around 200,000 people in Switzerland regularly use cannabis with more than 1% THC content for consumption,” reads a news release from the Swiss Federal Council. They also approved only Swiss-grown organic pot, which would benefit farmers.
According to the Swiss Federal Council, only adults that are at least 18 years of age will be able to participate in the program. Those who do will also be closely monitored particularly for their health. They will be required to be current cannabis consumers already in order to qualify. Schools and employers will also be notified if any of their staff or students are participating in the program.
However, consumption of cannabis in public areas still won’t be allowed.
Additionally, the pilot program will allow government officials to study as well as collect evidence without having to ban recreational cannabis as a whole. Until now, these moves were not possible due to the absence of legal framework.
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