International Marijuana Business News

Australia medical marijuana turns corner as patient count surpasses 2,000

Australia’s medical cannabis market is gaining momentum, as approvals for the medicine surpassed 2,000 for the first time. The country saw 568 medical cannabis approvals in November, a 42% increase on-month, bringing the total number of approvals for the first 11 months of 2018 to 2,072, according to the Therapeutic Goods Administration (TGA), which regulates medical […]

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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 […]

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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 […]

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Thailand legalizes marijuana for medical use, research

Just one month after a proposed law breezed through a key hurdle, Thailand’s National Legislative Assembly voted 166-0 (with 13 abstentions) to allow medical marijuana and cannabis research. The move came as a year-end surprise because the Assembly was expected to take 60 days to deliberate the draft. The Southeast Asia nation could be sitting on […]

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Americans eye Canada’s cannabis edibles market, but wary of costly regulations

U.S. marijuana companies are keeping a close eye on the development of Canada’s edibles sector, but executives say the regulations proposed by Health Canada will be burdensome for manufacturers – and ultimately make them less competitive with the illicit market. Canada’s health department unveiled its proposed rules for edible cannabis and infused beverages, extracts and topicals […]

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Cannabis company Golden Leaf Holdings ends $125M merger with Terra Tech

Toronto-based Golden Leaf Holdings announced it won’t pursue a $125 million merger with Terra Tech, a vertically integrated multistate marijuana company that was faces a lawsuit alleging theft, stock manipulation and filing false reports. Golden Leaf and California-based Terra Tech had previously signed a nonbinding letter of intent to merge. The deal, subject to a number […]

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Canadian marijuana firm Canopy pledges to enter US market with Farm Bill passage

Canadian cannabis giant Canopy Growth announced it will make forays into the U.S. market after the United States government passed the Farm Bill. “Canopy Growth will participate in the American market now that there is a clear, federally permissible path to the market,” Bruce Linton, chair and co-CEO of Ontario-based Canopy Growth (TSX: WEED; NYSE: […]

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Canada’s draft regulations for cannabis edibles ban alcohol brands, cap THC

Canada’s health department unveiled its draft regulations for edible cannabis and infused beverages, extracts and topicals, to establish parameters for a new wave of businesses and entrepreneurs aiming to capitalize on the country’s marijuana industry. The formal draft regulations will be published in the Canada Gazette, the government’s official newspaper, on Dec. 22, and businesses and the […]

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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 […]

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Ascent appeals marijuana license revocation, lays off a third of Canadian staff

Vancouver-based Ascent Industries has appealed Health Canada’s decision to revoke the license of its subsidiary, Agrima Botanicals, after the agency said the marijuana company conducted “unauthorized activities with cannabis.” Ascent also laid off 30 Canadian employees – representing about 36% of its total staff in Canada – “to protect its financial position for stakeholders,” the […]

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Budweiser maker AB InBev teams with Tilray in $100 million deal to research marijuana-infused drinks

Two commercial giants from the worlds of beer and marijuana are teaming up to spend $100 million to research cannabis-infused beverages, the latest deal to pair a Canadian cannabis company with a major maker of alcoholic beverages. Belgium-based AB InBev (NYSE: BUD), which includes Budweiser in its huge portfolio of beer brands, is partnering with […]

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