Weekly European Cannabis Round-up

Germany

Now that all the necessary approvals from the Canadian and German authorities have been obtained, on 11 March 2019 Aurora commenced sales of cannabis oils to German pharmacies (as announced here). It’s a key step that paves the way for higher revenue and profit margins in the near future.

Last week, Germany ‘celebrated’ the second anniversary of the legalisation of medical marijuana, which allowed patients to access cannabis medications with full insurance coverage. Since the very beginning, Aurora Cannabis has continued to build relationships with authorities, physicians, pharmacies, and patients, helping the country to develop facilities and infrastructures. Aurora quickly established itself as the leading business in Germany, which is now the most important legal marijuana market outside North America.

Aurora Appoints Nelson Peltz

Two days later, on 13 March 2019, Aurora made another key move for the future of their global presence. The company has appointed Nelson Peltz as Strategic Advisor to explore potential partnerships and offer advice on their global expansion strategy.

Malta

Although major cannabis companies usually capitalise media attention, this week we report a very important move by a smaller company into the European market. On 11 March 2019, the Supreme Cannabis Company, Inc., announced that it has applied for a Cannabis licence in Malta.

“We’re pleased to announce that we have secured a letter of intent from Malta Enterprises, taking another step forward in our global growth strategy. Malta is not only a strategic hub for Europe, it is also home to robust existing pharmaceutical and nutraceutical manufacturing industries with a deep pool of expertise,” said Navdeep Dhaliwal, CEO of The Supreme Cannabis Company.

The Supreme Cannabis Company, operating as a developer of medical marijuana, grows its product indoors. Currently, it only serves customers in Canada. This recent move into Europe represents a fundamental international window and gives the company a global perspective.

Tilray Joined by Andrew Pucher

On 13 March 2019, Andrew Pucher, formerly of Goldman Sachs, joined Tilray to lead the company’s global corporate development activity. In his new leadership role, Andrew’s function will include the team that is responsible for M&A and corporate investments. Brendan Kennedy, Tilray’s CEO, said, “We’re pleased to welcome Andrew to our senior leadership team to execute strategic transactions that will further accelerate Tilray’s long-term global growth.”

English Lawyers Challenge EU Reclassification of Cannabinoids as Foodstuff

The Cannabis Trades Association UK (CTA) has instructed London law firm, Mackrell Turner Garrett, along with a leading food and trading standards barrister, to challenge the new classification of food products containing cannabidiol recently introduced by European regulators.

The regulation concerns all products designed for human ingestion, including oils and other extracts. Many who are involved in Britain’s growing cannabis market are therefore concerned that CBD products could be removed from shop shelves if the new regulation is thoroughly enforced. Such a reclassification will make it more difficult for products with cannabinoids to go on sale in the EU market without pre-authorisation.