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Canadian bank throws cold water on marijuana revenue forecasts

April 2, 2019

The Bank of Montreal (BMO) is warning investors that revenues from adult-use cannabis in Canada could come in lower than expected over the coming quarters due to the slow build-out of retail stores, flat nationwide retail sales and inventory depletion. “The pace of new bricks-and-mortar store openings, particularly in Ontario – beginning April 1 – […]

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Canadian medical cannabis exports tripled last year, as race for European market position intensifies

March 21, 2019 · Updated March 23, 2019

Exports of medical cannabis from Canada soared last year as the country’s biggest licensed cannabis companies continued to establish beachheads in new medical markets overseas. Shipments of dried cannabis tripled to 1,460 kilograms (3,219 pounds) in 2018, compared with 500 kilograms in 2017 and only 44 kilograms in 2016. Exports of medical cannabis oil doubled […]

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Insurance-covered cannabis in Germany tops 70 million euros in 2018

March 19, 2019 · Updated November 5, 2019

Statutory health insurers in Germany covered 73.7 million euros ($83.7 million) worth of medical cannabis products in 2018, according to new data published by German health insurance agency GKV-Spitzenverband. Pharmacies in the country processed 185,370 prescriptions under the statutory program – which covers roughly 90% of the population – during the year. Private prescriptions are […]

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Aurora Cannabis targets European expansion with acquisition in Portugal

February 26, 2019

Edmonton, Alberta-based Aurora Cannabis advanced its strategy to attain “early mover advantage” in countries with nascent medical marijuana markets with an agreement to acquire a majority interest in a Portuguese license applicant. Under the terms of the agreement, Aurora will acquire a 51% ownership stake in Gaia Pharm – based in Funchal – to establish […]

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Report: Largest marijuana firms already control most of Canada’s regulated adult-use market

February 20, 2019 · Updated December 30, 2019

Canada’s largest licensed cannabis producers already have a stranglehold on the country’s regulated recreational market just four months into legalization, according to analysts. Canaccord Genuity estimates Canopy Growth and Aurora Cannabis combined represented almost 50% of the sales volume in the first three months of legalization. “After including estimated contributions from Tilray and Aphria, we […]

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Greece challenges Denmark in race to be Europe’s marijuana hub

February 13, 2019

Greece has received as many as 30 foreign investment applications for medical and industrial cannabis production worth approximately 350 million euros ($400 million), potentially setting up the country to be the European Union’s top supplier of medical cannabis in coming years. While few of the licenses have yet to be approved, that value challenges Denmark’s […]

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In wake of Namaste fiasco, Canadian cannabis firms urged to boost corporate governance

February 5, 2019 · Updated February 6, 2019

An expert in the cannabis industry is urging Canadian marijuana companies to improve corporate governance in the wake of a controversy involving Namaste Technologies and other “unicorn” firms. Toronto-based Namaste on Monday said it removed Sean Dollinger as chief executive officer and director and is commencing legal action against him after a special investigation. The company […]

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Though a ‘positive step,’ WHO recommendations on cannabis fall short for some

February 1, 2019 · Updated March 29, 2019

The World Health Organization (WHO) made great strides in its recommendations on how cannabis should be scheduled, but the global industry believes there’s more work to be done. Martin Jelsma, drugs and democracy program director, at the Netherlands-based Transnational Institute, emphasized to Marijuana Business Daily that there are “very positive elements in the WHO recommendations,” including: Recognition […]

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Big Pharma ‘missing link’ in Canada’s emerging marijuana industry

January 31, 2019 · Updated December 31, 2019

The entrance of multinational pharmaceutical companies into Canada’s cannabis sector will mark one of the next major themes in the industry, analysts told Marijuana Business Daily. Such eventual moves by Big Pharma will provide even more credibility to a sector that has already seen the entrance of alcohol and tobacco giants. “The missing link is […]

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In race to win Europe, Aurora Cannabis and other Canadian companies pursue EU-GMP

January 30, 2019 · Updated August 15, 2019

In an effort to add to their international credibility and gain leverage over competitors, more Canadian medical marijuana firms are aiming to achieve one of the highest levels of quality certification in the world. Only a handful of licensed cultivators in Canada qualify for the EU-Good Manufacturing Practices (EU-GMP) certification, giving them an advantage when […]

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Legal cannabis could skim $55 billion per year from alcohol, tobacco firms

January 14, 2019 · Updated January 30, 2019

Global alcohol and tobacco companies could face losses of $55 billion a year if a fully legal cannabis industry develops in North America, a new report predicts, a key driver for why those sectors are taking early steps into the blooming marijuana market. “For these two industries in particular, a move into the cannabis business is […]

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