International Marijuana Business News

New Zealand finalizes groundwork to launch medical cannabis industry in April

(This story has been updated to reflect new information from the Health Ministry.) New Zealand completed the regulatory foundation for its medical cannabis sector this week, making a key concession by not requiring specialist approval for prescriptions. When the new rules take effect April 1, 2020, all general practitioners will be able to prescribe medical cannabis […]

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Analysis: Germany’s medical cannabis market loses momentum but on pace to surpass 100 million euros

Insurance reimbursements for medical cannabis in Germany reached a new high during the July-September period, according to recently published data by the German National Association of Statutory Health Insurance Funds (GKV-Spitzenverband). However, the data also suggests that growth in medical marijuana sales is losing momentum as double-digit gains in MMJ reimbursements become harder to maintain. Statutory health insurance reimbursements […]

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Italy to nearly triple domestic medical cannabis production in 2020

The Italian Ministry of Health plans to almost triple the quantity of medical marijuana to be produced domestically in the coming year. This signals the intention of the government to rely to a lesser degree on imports in 2020 to serve growing domestic demand for medical cannabis. As per the country’s psychotropic substances quota, which covers medical cannabis, the […]

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British Columbia exempts dry cannabis vaporizers from increased tax

British Columbia updated a notice clarifying how its planned increased sales tax on vaporizer products will apply to cannabis devices. The new notice removes “dry herb vaporizers” from the list of products subject to the increased tax rate. The higher 20% provincial sales tax will still apply to liquid cannabis vaping products when it takes […]

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Canadian cannabis producer Hexo’s sales decline as net loss grows

Federally licensed cannabis producer Hexo recorded net revenue of 14.5 million Canadian dollars ($11 million) in its most recent quarter, down slightly from the previous quarter’s CA$15.4 million. The Gatineau, Quebec-based company’s net loss widened to CA$62.4 million in the period ending Oct. 31 from CA$56.7 million in the last quarter. About three-quarters of the […]

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BC, Ontario see lowest cannabis sales per capita in first year of legalization

The two most important cannabis markets in Canada experienced the worst sales of adult-use products per capita in the first year of legalization, reflecting struggles of officials in those provinces to get a handle on the policy tools at their disposal to regulate the industry. From October 2018 through September 2019, British Columbia’s marijuana stores […]

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Stars of marijuana and hemp sectors honored at MJBizCon in Las Vegas

LAS VEGAS – From a Dutch cultivator of medical cannabis to one of the handful of retailers to open for Canadian Legalization Day, Marijuana Business Daily recognized leaders of the hemp and MJ industries Thursday night during the inaugural MJBizDaily Awards gala at The Cosmopolitan Hotel. Setting the stage for the new awards program, MJBizDaily […]

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Ontario raises LP affiliation limit to 25%, opens cannabis retail market

Ontario will begin accepting cannabis store applications in January, with authorizations starting at about 20 per month beginning in April, the province’s Ministry of the Attorney General announced Thursday. The province did not say how the 20 stores will be allocated among the hundreds of operator license applications expected to flood into the Alcohol and […]

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MJBizCon 2019 panelists shine spotlight on new and evolving US and global cannabis business opportunities

LAS VEGAS – How might the Canadian cannabis market fare in 2020? What will happen with the SAFE Banking Act in the U.S. Congress? How are U.S. cannabis operators complying with marijuana regulations across multiple states? Those issues and others were among the many U.S. and international cannabis business topics tackled during the second day […]

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MJBizDaily, Cowen ink cannabis information distribution deal

Marijuana Business Daily and New York-based financial investment advisory firm Cowen on Wednesday announced an exclusive partnership in which MJBizDaily will distribute Cowen’s cannabis industry reports and MJ policy research. Distribution of Cowen’s cannabis-related research by MJBizDaily is expected to launch in the first quarter of 2020. Cowen’s cannabis research features Wall Street analyst Vivien Azer. “This partnership […]

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CIBC: ‘Indiscriminate’ cannabis selloff should start to shift in 2020

The cannabis stock meltdown that erased $49 billion in enterprise value this year should begin to shift in 2020 as the industry leaders separate themselves, one of Canada’s largest investment banks forecasts. A new CIBC World Markets report by John Zamparo, director of institutional equity research, called this year’s “rationalization” of marijuana stock prices inevitable. “Even […]

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