Europe

Aurora targets high-margin cannabis market with CA$175M Whistler acquisition

Alberta’s Aurora Cannabis has agreed to acquire privately held British Columbia-based Whistler Medical Marijuana Corp. – one of Canada’s first licensed producers – for 175 million Canadian dollars ($131 million) in an all-share transaction. The acquisition will add Whistler’s recognized cannabis brand to Aurora’s portfolio. It also provides Aurora a proven export channel. Whistler already […]

Read More

Canadian marijuana companies raised landmark CA$12 billion in 2018

Marijuana firms in Canada raised a record 11.96 billion Canadian dollars ($9 billion) last year as they prepared to meet demand in the new adult-use market and grow their medical operations globally. That represents a 150% increase over 2017, when Canadian companies raised CA$4.7 billion, according to data compiled by Viridian Capital Advisors and shared […]

Read More

Denmark approves ‘bulk’ medical cannabis exports as European programs stall

An executive order to implement bulk cannabis exports from Denmark went into force Jan. 1, according to the Ministry of Health, putting Danish medical marijuana companies on a solid footing to compete across the European Union. Denmark is now a clear front-runner in Europe, where countries and businesses are jostling for position for what United Kingdom-based […]

Read More

Growth slows for German medical cannabis market in third quarter

Demand for medical marijuana in Germany continued to increase in the third quarter, albeit at a slower pace than the previous quarter. Total cannabis sales covered by statutory health insurance surpassed 50 million euros ($56.8 million) in the first nine months of 2018, with all categories of allowed medical cannabis posting gains between the second […]

Read More

Israeli Parliament ends years of delays, approves medical cannabis exports

After years of delays, the Knesset – Israel’s Parliament – unanimously approved a law to permit exports of medical marijuana late Tuesday. Some analysts believe the move could unlock a market worth up to $4 billion. To assuage concerns from security officials that medical marijuana would leak into the black market, the law empowers police […]

Read More

Bitter end for booming year in Austria as officials ban CBD food, cosmetics

Austria’s Minister of Health ordered businesses to immediately stop selling CBD food and cosmetics because the products fall under the European Union’s definition of “novel food.” Cannabidiol is explicitly included in the EU’s novel food catalog, which means individual member countries may limit the marketing and sale of it without specific authorization. Business association Cannabis Austria CEO Stefan […]

Read More

French scientific committee recommends expanding medical marijuana program

A temporary scientific committee launched by the French National Agency for the Safety of Medicines and Health Products (ANSM) has recommended that medical marijuana be authorized – five years after the country passed legislation to allow cannabis-based medicines. The initial rules allowed only for specific MJ medicines with licenses, also known as marketing authorization. The new […]

Read More

Canopy Growth boosts M&A transparency in wake of Aphria fiasco

Cash-rich Canopy Growth bought global vaporizer leader Storz & Bickel for 220 million Canadian dollars ($160 million) in a bid to improve its portfolio of intellectual property. The all-cash deal is also intended to position Canopy to capitalize on the next wave of federally regulated products in Canada and around the world, the Smiths Falls, Ontario company […]

Read More

WHO postpones recommendation for rescheduling cannabis at UN summit

The World Health Organization (WHO) postponed its much-anticipated recommendations about the international scheduling of cannabis, citing a need for more time to review its findings. The recommendations were expected to be released Dec. 7 at the Commission on Narcotic Drugs (CND) 61st reconvened session in Vienna. Recommendations about several other substances were included in the WHO presentation, but […]

Read More

Key UN summit could lead to international rescheduling of cannabis

A crucial milestone for the global industry could be achieved this week, as the World Health Organization (WHO) presents its findings on cannabis to the Commission on Narcotic Drugs (CND) in Vienna. The CND reconvened its 61st session on Dec. 5. The WHO’s Expert Committee on Drug Dependence (ECDD) held meetings in June and November dedicated to pre-review and review […]

Read More

Luxembourg releases recreational marijuana proposal for ‘residents only’

Luxembourg’s plan to legalize recreational marijuana may be a milestone for the European Union, but business opportunities will be limited by a provision that would allow sales only to the country’s “adult residents.” The new government “isn’t considering transforming Luxembourg into a cannabis tourism destination,” a source in the Luxembourg Socialist Workers Party – one of the coalition […]

Read More