Insurance reimbursements for medical cannabinoid products in Germany continued to grow in the first quarter of 2023, showing that Europe’s largest economy continues to see a gradual expansion of its cannabis industry – now one of the largest in the world.
Germany’s cannabis ambitions could still be partially incompatible with European Union law, even though Berlin significantly scaled back the initiative, according to the country’s parliamentary research unit.
The German government is preparing a draft law that would highly regulate so-called cannabis clubs – associations that would not produce profits – potentially leaving very little room for making money for even ancillary businesses.
The German government is backpedaling on its plan to implement nationwide recreational cannabis legalization, instead opting for a two-track, scaled-down approach with limited commercial opportunities – for now.
Calgary, Alberta-based High Tide lost 52.5 million Canadian dollars ($38 million) in its quarter ended Oct. 31, driven largely by noncash impairment charges of CA$48.6 million related to e-commerce platforms.