These Companies Are Ready To Capitalize On Latest Marijuana Reforms In Israel And Germany

Cannabis companies in the U.S. and Canada are capitalizing on the expanding European market as attitudes toward cannabis products continue to evolve and regulatory frameworks become more favorable. That’s just one of many topics that will be discussed by top CEOs, investors, and leaders in the cannabis industry at the Benzinga Cannabis Capital Conference in Chicago this Sept 27-28.

Come join us and be part of an unforgettable event that will take place at the Chicago Marriott Downtown Magnificent Mile.

And now, let's scroll through the latest cannabis policy changes worldwide.

Patients With Cancer, Crohn's Disease And More To Benefit From New Medical Cannabis Reform In Israel

The Ministry of Health announced the anticipated reform of medical cannabis regulations in Israel on Monday, reported Ynetnews.

The new regulations are expected to significantly reduce the restrictions imposed on the industry, allowing patients easier access to medical cannabis for their treatment. Furthermore, this reform has the potential to boost the country's exports of medical cannabis, benefitting both patients and the economy.

As per the ministry's guidelines, individuals with cancer, Crohn's disease, dementia, autism, multiple sclerosis (MS), or HIV, as well as those who are terminally ill and have a life expectancy of less than six months, will now have the convenience of obtaining their required medications through a doctor's prescription, eliminating the task of acquiring a license.

"This is great news for tens of thousands of Israeli citizens and for the economy and combines social sensitivity with the protection of public health," Health Minister Moshe Arbel said.

Oren Shuster, CEO of IM Cannabis Corp. IMCC IMCC, a medical cannabis company with operations in Israel and Germany, praised the move.

"With the overhaul of the cannabis regulation, the Israeli Ministry of Health is clearly putting patient needs first, facilitating the access of medical cannabis for many new patients," he said. "We believe it will change the face of the medical cannabis market in Israel once it is fully approved by the Ministry of Health."

In 2021, IMC was the first Israeli cannabis company to debut on the NASDAQ Capital Market. Earlier this year, the company announced the reduction of its workforce in Israel by 20%-25% across all functions to strengthen its focus on core activities and drive efficiencies to realize sustainable profitability.

German Cabinet Set to Approve Marijuana Legalization Bill in Landmark Decision, Top Official Says

The long-awaited cannabis legalization plan in Germany was unveiled in April, prompting the German government to publish a draft law for the first phase of marijuana legalization recently.

The legislation is about to be presented to the federal Cabinet for approval, and Health Minister Karl Lauterbach is optimistic regarding its passage, reported Marijuana Moment.

"I expect the cannabis approval to come into the cabinet next week," he told Rheinische Post in a recently published interview, adding that he expects slight changes to the measure.

The Health Minister also said he wants to reduce the consumption of marijuana among young people and ensure that older cannaseurs use it safely and responsibly.

"But I can already say this much: parallel to the legislation, we will run a major campaign to draw attention to the risks of cannabis consumption," Lauterbach explained. "Cannabis is particularly harmful to the still-growing brain. The brain is still being remodeled up to the age of 25. Anyone who consumes in this age phase is particularly harmful."

These Companies Will Benefit From Policy Reform

Meanwhile, both American and Canadian cannabis operators are getting ready to jump on the new opportunity in Europe.

According to cannabis analyst Pablo Zuanic, cannabis giants Tilray Brands Inc. TLRY TLRY and Aurora Cannabis Inc. ACB are among the best-positioned companies to benefit from Germany legalizing retail distribution, possession and home growth of recreational marijuana.

Another big player in the space is Curaleaf Holdings, Inc. CURLF, which acquired a 55% stake in Four 20 Pharma GmbH, a fully EU-GMP & GDP licensed German producer and distributor of medical cannabis last year. The move solidified a strategic pathway to acquire complete control of Four 20 Pharma after two years of the commencement of adult use in Germany.

Other companies that are eyeing the new market are CBD of Denver Inc. CBDD which intends to acquire a German-based CBD specialist, and Organigram Holdings Inc. OGI, which recently entered into a supply agreement for dry cannabis flower with the medical division of German cannabis company Sanity Group. Under the terms of that agreement, the company will provide indoor-grown dried flower products to Sanity Group and grant Sanity Group strain exclusivity on certain genetics.

Sanity Group GmbH also got support from British American Tobacco BTI. The tobacco giant invested in Sanity along with Snoop Dogg's Casa Verde Capital as part of the tobacco giant's bid to diversify beyond nicotine. Sanity secured $37.6 million in a BAT-led Series B funding round in May.

On the local level, Cantourage, a Berlin startup founded in 2019 that imports, processes and distributes marijuana for medicinal purposes, became the first medical cannabis company to list on the Frankfurt stock exchange in late 2022.

The Benzinga Cannabis Capital Conference, the place where deals get done, is returning to Chicago this Sept 27-28 for its 17th edition. Get your tickets today before prices increase and secure a spot at the epicenter of cannabis investment and branding.

Photo: Courtesy of geralt and Kindel Media by Pixabay