In recent cannabis news, significant developments have taken place across various regions, influencing the industry's trajectory and sparking discussions on regulations and legalization efforts.
Canada
Ottawa Public Health (OPH) has proposed the implementation of graphic warning labels on cannabis product packaging, similar to those found on cigarette packages. OPH's recommendations, presented to the Board of Health, aim to update regulations comprehensively and include explicit calls for Health Canada to incorporate graphic health warnings. This move reflects ongoing efforts to promote consumer awareness and safety within the Canadian cannabis market.
Israel
The Knesset Health Committee has made a decision to grant specially trained doctors the authority to prescribe medical cannabis for specific conditions. By eliminating the need for patients to apply for licenses, this change in regulations intends to streamline the process and ensure greater access to medical cannabis. Patients suffering from conditions such as epilepsy, Crohn's disease, dementia, autism, malignant cancers, multiple sclerosis, and AIDS, and those with a life expectancy of six months or less will now have easier legal access to this therapeutic option.
United Kingdom
In the UK, the blocking of Bermuda's Cannabis Licensing Bill 2022 has generated discussion. The UK-appointed Governor of Bermuda declined to provide assent to the bill, prompting Conservative MP Andrew Rosindell to raise the issue in the Parliament. Rosindell called for a review of this decision, drawing attention to the potential implications for Bermuda's cannabis industry and the broader conversation around cannabis legislation.
Additionally, the island of Jersey, a UK Crown Dependency, has emerged as an attractive destination for medical cannabis investments. Since 2016, the island has successfully secured over £60 million in investments from medical cannabis businesses. To further enhance its appeal to the sector, Jersey is developing a strategic plan with detailed regulations tailored specifically to the cannabis industry. Local cannabis company Northern Leaf recently obtained EU GMP certification and is preparing to launch an initial public offering (IPO), underlining the growing momentum within Jersey's cannabis sector.
India
Shifting to India, a committee of legislators led by Revenue Minister Jagat Singh Negi is visiting Kangra and Chamba districts in Himachal Pradesh to gather public opinion on the legalization of cannabis farming. According to The Tribune India, the majority of the people they have engaged with across the state have expressed support for allowing cannabis cultivation for medicinal and industrial purposes. The committee will continue its visits to Solan and Shimla districts before submitting its report to Vidhan Sabha Speaker Kuldeep Singh Pathania, potentially paving the way for future legislative discussions on cannabis farming in India.
As cannabis continues to navigate a complex legal landscape, these recent developments highlight the evolving nature of regulations, shifting societal attitudes and the growing potential for cannabis-related businesses and investments around the world.
Image Credits: Andrei Minsk and Marti Bug Catcher on Shutterstock Edited By Benzinga
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Cannabis is evolving – don’t get left behind!
Curious about what’s next for the industry and how to leverage California’s unique market?
Join top executives, policymakers, and investors at the Benzinga Cannabis Market Spotlight in Anaheim, CA, at the House of Blues on November 12. Dive deep into the latest strategies, investment trends, and brand insights that are shaping the future of cannabis!
Get your tickets now to secure your spot and avoid last-minute price hikes.