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December 6th Highlights
- One Small Step for Cannabis Regulation, One Giant Leap for the Future of Cannabis - The United Nations Commission on Narcotic Drugs (CND) on Wednesday accepted a World Health Organization (WHO) recommendation to remove cannabis and cannabis resin from Schedule IV of the 1961 Single Convention on Narcotic Drugs. The historic vote in Vienna could have far-reaching implications for the global medical cannabis industry, ranging from regulatory oversight to scientific research into the plant and its use as a medicine. The passage of Recommendation 5.1 carries broad symbolic significance for medical cannabis, as it could help boost medical cannabis legalization efforts around the globe now that the CND tacitly acknowledges the medical utility of the drug. The vote could encourage countries to reevaluate how cannabis is classified on their own lists of narcotic drugs, potentially paving the way for more research into medical marijuana and its use as a treatment for a variety of ailments and conditions. Thanks to Alfredo from MMJ for this content snip - Here is a very short summary of the vote:
- 5.1: yes to remove Cannabis and Cannabis resin from Schedules 1 and 4. Win! (This is the plant itself and the resin, such as Hashish.)
- 5.2.1 was rejected, so D9-THC will NOT be added to the Schedules. Win! (Includes isomers.)
- 5.5: CBD will NOT be added to the Schedules. Win! (It never was Scheduled, and WHO issued a very favorable report on it. Also, hemp is not subject to this Treaty anyway.)
- High-THC Extracts and Tinctures were NOT removed from Schedule 1, the lowest level of the Schedule. You can’t win them all
- Retail Space is High Value in Canada - Retail in the Canadian cannabis industry is becoming more important as distribution remains the key driver to access and user growth. Consolidation is picking up among Canada’s regulated cannabis retailers as recreational cannabis sales continue their upward monthly trend, with industry insiders predicting more store mergers and acquisitions. The retail M&A trend appears to be driven by a market that’s growing more competitive and crowded in certain areas, large chains attempting to cement their competitive advantage and expand their brand portfolios as well as retailers seeking quick expansion in existing markets. Content source. I recently spoke with Matt Lamers in Canada on the Canadian market.
- The Growing U.K Cannabis Market - Britain is set to see the greatest cannabis medical market growth rate in Europe between 2020-2025. According to a new report, entitled European Cannabis 2020, by international cannabis market research firm Brightfield Group, expectations to allow for domestic cultivation and general practitioners prescribing in the coming years will result in a 2020-2025 compound annual growth rate (CAGR) of 98%. Like in Australia, the U.K. will outgrow the access bottleneck as more products become available, price points lower and clinics open. The U.K. will see a similar growth trajectory as Australia. Content Source
United Nations approves WHO recommendation to reschedule cannabis in historic vote
Drivers using medicinal cannabis are SAFE on the roads, Aussie study reveals
In Germany, EU court’s CBD decision brings additional political support for access
Althea Group subsidiary signs manufacturing agreement with Tinley’s
Zelira Therapeutics to launch hemp-based toothpaste with U.S. partner
Pro-cannabis party says full legalisation would create 100,000 new jobs in Australia
Cann Group granted facility licences for Mildura facility