International Marijuana Business News

Product supply interruptions hit German medical cannabis market, but government dismisses risk of shortages

Supply disruptions are rippling through Germany’s growing medical cannabis market, but the country’s federal government says there are no signs at the moment of widespread product shortages. In response to a recent parliamentary inquiry, the government noted that pharmacies that sell medical cannabis have access to a variety of distributors beyond some companies whose products […]

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Ontario Cannabis Store sells out of edibles within hours

Ontario’s only legal online outlet for adult-use cannabis sold out of edibles within hours of their initial availability Thursday, demonstrating exceptionally strong demand in Canada’s largest market. Newly regulated Cannabis 2.0 products such as chocolates and vapes went on sale online Thursday in Ontario, though the products have been available in the province’s approximately two […]

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Cannabis producer Tilray taps ex-Molson, Revlon employees for executive roles

Tilray announced changes to its executive roles this week, appointing former Molson Coors Brewing Co. and Revlon employees to key positions. The British Columbia cannabis producer said Chief Financial Officer Mark Castaneda – on the job for almost two years – would shift to strategic business development. Replacing him as CFO is Michael Kruteck, who […]

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European Commission proposes unified EU vote on WHO cannabis scheduling recommendations

In advance of the March session of the United Nations Commission on Narcotic Drugs (CND), the European Union’s executive branch has proposed that EU member nations vote in favor of three of the six World Health Organization (WHO) cannabis scheduling recommendations. The European Commission “Proposal for a Council Decision” is meaningful because – if adopted by […]

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Canada’s Aphria reports loss, cuts revenue guidance for 2020

Aphria reported a net loss of 8 million Canadian dollars ($6.2 million) for the second quarter ending Nov. 30, 2019, and the Canadian cannabis producer lowered its fiscal 2020 revenue outlook. The company’s net revenue for the three-month period was CA$120.6 million, down from the previous quarter’s CA$126 million and lower than analyst expectations. Net […]

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GW Pharma beats projections with $108M in Q4 sales thanks to CBD drug

A popular cannabis-derived epilepsy treatment is increasing sales for a London company making pharmaceutical treatments from marijuana. London-based GW Pharmaceuticals told investors Monday that it rang up $108 million in sales last quarter and $309 million for calendar 2019. The company’s fourth-quarter sales beat consensus analyst expectations of $102.4 million. GW attributed the sales figures to physicians […]

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Canopy, Loblaw among 8 hopefuls to take over New Brunswick cannabis sales

(This story has been updated with a statement from Couche-Tard.) An opportunity to exclusively operate New Brunswick’s recreational cannabis retail, wholesale and e-commerce platforms has drawn interest from a wide range of companies, including Canada’s largest food retailer and the biggest marijuana producer in the country. New Brunswick received eight proposals ahead of the Jan. 10 […]

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MJBizDaily donates $425,000 through Industry Giveback Program

Marijuana Business Daily donated more than $425,000 in cash and in-kind donations through its Industry Giveback Program in 2019. The program, established in 2015, supports nonprofit organizations and professional associations focused on industry building in areas of professional development and inclusion, sustainability and community development as well as continued support for legalization advocacy work across […]

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Avicanna signs medical cannabis supply deal with Canada’s Shoppers Drug Mart

Toronto-based Avicanna – which has cultivation operations in Colombia – on Friday announced an agreement with Shoppers Drug Mart to supply Canada’s largest pharmacy chain with medical cannabis. However, the products – at least initially – won’t be shipped from Colombia. Avicanna will have one or more Canadian producers manufacture them, which will then be sold online […]

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British Columbia cannabis tax revenue set to soar, adding to pressure for local revenue-sharing deal

British Columbia’s monthly share of the federal tax on cannabis rebounded 62% to 781,000 Canadian dollars ($600,000) for August after falling below CA$300,000 in July for only the second time since legalization. According to new data provided by the province, B.C. received CA$7.2 million in shared tax revenue from Ottawa between October 2018 and August […]

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