How Cannabis Legalization In Germany Boosted This Company's Revenue, Will Spain's Medical Marijuana Framework Do The Same?

Spain Unveils Framework For Prescribing Cannabis-Based Medications

Spain’s Ministry of Health revealed this week a draft royal decree for public consultation, outlining the suggested regulations for prescribing cannabis-based medications, reported Business of Cannabis.

The news comes after years of negotiation and an increase in the legal production of medical cannabis, as earlier reported.

In June 2022, the Health Committee of the Spanish Congress of Deputies initially endorsed a draft report from a subcommittee, which outlined a series of recommendations for regulating cannabis-derived medicines for therapeutic purposes.

Following a delay in the process caused by a change of government in 2023, Health Minister Monica Garcia said during her first appearance in Congress in early January, that the process of setting up a medical cannabis framework will be rebooted.

Aligned with the Health Committee's recommendations, the latest framework permits:

• The prescription of cannabis medicines in the form of “master formulas;”
• Specialist doctors prescribe medical cannabis for qualifying conditions such as spasticity in multiple sclerosis (MS), severe forms of refractory epilepsy, nausea and vomiting due to chemotherapy, and refractory chronic pain.

Medical cannabis flower is not included in the legislation.

Read Also: One Spanish Politician Calls Cannabis ‘The Most Dangerous Of Drugs’ While Another Defends It, Pushes Tougher Alcohol Laws

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This Cannabis Company Achieves Record Growth In Germany: 50% Revenue Increase And Here's Why

In the meantime, IM Cannabis Corp. IMCC IMCC reported on Wednesday the preliminary sales results in Germany by its subsidiary operating in the country, Adjupharm GmbH, for the third quarter of 2024. The results have significantly exceeded expectations, the medical cannabis company with operations in Israel and Germany said, reporting a 50% increase in revenue compared to the previous quarter.

Oren Shuster, CEO of IMC, said that's due to a partial legalization of cannabis in Germany taking effect this spring.

“Since April 1, one of our key objectives was to ensure a supply chain strong enough to meet the increase in demand," Shuster said. "This preliminary 50% growth is testament, in part, to delivering on this objective. We are thrilled with our Q3 performance, which not only surpassed our own targets but also highlights the dedication and hard work of our entire team.”

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