EU to adopt Germany’s medical cannabis approach

EU to adopt Germany’s medical cannabis approach

The European Union is planning on adopting Germany’s approach to medical cannabis regulation, according to the European Medicinal Cannabis Association (EUMCA).

The move is in keeping with the United
States and Canada’s wave of cannabis legalisation in recent years, which has
resulted in a huge spike in tax revenue.

“Our main priority is informing
national and EU institutions about the opportunity that this treatment is
offering,” said
Sita Schubert, secretary general of EUMCA.

“The use of cannabis for medical
purposes was forbidden for so many years due to the strong national laws on
narcotics that there was no opportunity of gaining experience with cannabis,” she
added.

Medical cannabis is already available
in a few EU countries, however differing laws surrounding cannabis throughout
the EU makes it complicated for patients to have legal access to their
prescribed medicines when travelling to countries with dissimilar rules.

The United Kingdom, the Netherlands, The Czech Republic, Italy and Malta are a few of the other EU countries which have currently enabled medical cannabis to be available for the treatment of a small number of medical conditions.

Publicly listed

Analysts have also now suggested that “four or five” cannabis companies could be publicly listed on the European Stock Market in 2020.

“I think there will be four or five
companies quoted in twelve months’ time”, Nikolaas Faes, an analyst for Bryan
Garnier told
Reuters on the sidelines of a cannabis industry conference.

The interest in the cannabis industry
from the EU has almost come too late, as the North American market experienced
a “green rush” at the beginning of the year, when a number of states decided to
legalise weed along with Canada making it legal for recreational use.

Stock markets in the EU missed out on
the earliest growth stages of the cannabis industry and could now be entering
the market at a stage where growth appears to have stagnated, mainly due to a
variety of issues including oversupply of product, job losses and licensing not
moving fast enough to enable strong growth.

Canadian cannabis conglomerate Aurora
Cannabis owns the subsidiary Aurora Europe which was established in 2017 and is
based in Berlin. The company is now seeking to reform the medical cannabis
market within the EU and supply medical cannabis across the continent.

Across the EU, cannabis has been being
utilised within the medical field at an increasing rate over the past year,
with Germany remaining at the forefront of the movement with more than 142,000
prescriptions being issued for cannabis-based medicines since the country
enabled them to be a viable option for health professionals to prescribe in
2017.

Germany’s Policy

In Germany cannabis is legal for
medicinal use, although recent statements from Angela Merkel’s Christian
Democratic Union (CDU) party has surprisingly suggested that it should be
legalised and decriminalised for recreational use.

“Cannabis could be freed for
personal use, of course with controlled production and distribution,” said
the CDU interior policy spokesman Marian Wendt. She added that “the
resources freed in the police and judiciary should be used to fight the illegal
trade”.

Under the current German narcotics
laws (Betäubungsmittelgesetz) it states
that despite possession and purchasing drugs being a criminal offence that can
carry up to five years in prison, authorities are not required to prosecute for
small quantities of narcotics for personal consumption, unless the case
disturbed ‘public interest’, for example if the use was in public or near
minors.

The offences also depend on what type
of drugs are involved and the quantity, with most states (Länder) in Germany
having their own definition of what is classed as a small quantity, with
cannabis varying from around 6 grams in most states to 15 grams in Berlin.

Under German laws the consumption of
any narcotics is not illegal, and cannabis has been viewed as a casual topic
for a few years within the country, where the Global Marijuana March has been
taking place since 2011 along with The Hanfparade
(Hemp Parade), a hemp legalisation demonstration which has taken place every
year since the late 90s.

The move to allow for medical cannabis in 2017 is heralded as a success by both those in the health field and individuals utilising the prescriptions, and the success shown may be contributing to convincing other EU countries to follow suit.

Before the legislation was passed,
only 1000 patients in Germany had been prescribed medical cannabis. Now the
national cannabis association Deutscher Hanfverband (DHV) has estimated that
around 60,000 health insurance patients are currently being prescribed medical
cannabis.

Largest markets

The accelerated rate at which German citizens are utilising the benefits of medicinal cannabis has put Germany at number three on the list of the top largest markets for cannabis-based products outside North America.

This is why the EU is so keen on
taking a leaf out of Germany’s book, especially in light of the Eurozone crisis
and economic downturn that the European Union has seen in recent years.

Mounting debt in countries like
Cyprus, Greece and Spain has impacted the whole of the EU, with bailouts in the
billions being commonplace over the past decade. However, with Europe being
twice the size of the United States in terms of population, a move to legalise
cannabis, even at a medicinal level, could well spur economic growth and
investment.

Malta is a prime example of how a tiny
country with a population of 500,000 can become an industry leader in emerging
fields.

The Mediterranean island off the coast
of Sicily is forecast to see its GDP grow by 6.4% over the next year, beating
every other EU nation.

Maltese Minister for the Economy,
Investment and Small Business, Chris Cardona, stated
that in just six months the European cannabis industry has grown more than it
did in the previous five years, and that in ten years it could be worth a
staggering €55 billion.

“The biggest mistake we can do is to underestimate the scale and the potential of this market,” he added. “We only have to look at how the market is growing in Canada, in the States and China. There is predominance of Chinese patents, suggesting that pharmaceutical science is evolving quickly in China, outpacing Western capabilities.”

https://cbd.local/mum-starts-hunger-strike-over-nhs-medical-cannabis-for-epileptic-son/

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