LONG-ESTABLISHED European cannabis company Bedrocan has re-entered the Canadian medical cannabis market following the purchase of a facility in Toronto.
This follows the granting of a cultivation licence by Health Canada for its new production base in the Toronto suburb of Scarborough.
Scarborough had been the former home of Bedrocan in Canada up to 2016 when it then decided to withdraw – and end its partnership with Canopy Growth – as the latter shifted its focus to the newly-created, recreational market.
Bedrocan’s CEO Jaap Erkelens said: “We are thrilled to be coming back to Canada (and) we look forward to serving patients in Canada and positively impacting the Canadian healthcare landscape.”
Bedrocan plans to bring several standardised cannabis products to registered Canadian patients through third party, medical sales channels.
In a press release Bedrocan said: “Bedrocan has always had the ambition to return to the Canadian market and hopes the cannabis legislation in Canada changes in a way that medical and recreational use are clearly separated, and patients are given access to pharmaceutical-quality products with proper healthcare guidance.”
Bedrocan is solely focused on producing high-quality medicinal cannabis for with consistent levels of THC and CBD, added Mr Erkelens.
Cantourage Record Quarter
Meanwhile Canadian cannabis producer Mother Labs has become the latest overseas player to enter the European market in partnership with German cannabis specialist ADREXpharma.
Nicole Broockmann, CEO of ADREXpharma, said: “This partnership represents a significant milestone in our mission to provide German medical patients with the highest quality cannabis products.
“Mother Labs’ advanced genetic development capabilities perfectly complement our distribution and regulatory expertise. Together, we will bring a product to market that meets the highest standards of quality and consistency.”
Brian Bain, CEO of Mother Labs told Bain told StratCann that the first Mother Labs genetics will be Beta808 (Slurricane x Chatterbox) and Garlic Funk (First Class Funk x GMO).
Leading German cannabis company Cantourage is predicting its revenues for 2024 will surpass €40m.
In a quarterly market release it said it had generated revenues of €13.2m in the period from July 1 to September 30, 2024, setting a new quarterly record for the company.
Cantourage has already exceeded last year’s total revenues of €24.9m, and posted a positive EBITDA of around €1m in the third quarter of 2024.
Philip Schetter, CEO of Cantourage, said: “It is important for investors to realize that the only areas in Germany and Europe in which truly profitable and growing business models can be established and monetized are those related to medical cannabis.
“I am not aware of any German company that is growing significantly and operating profitably with seeds, cuttings and non-commercial association structures.
“The real legalization of recreational cannabis that contains THC, as is the case in North America, for example, is off the table here for the time being. Nevertheless, medical cannabis is here to stay and will continue to grow.
“One thing is clear to us: regardless of what happens in the recreational market, the medical market will play the leading role in the years to come in ensuring that people in Germany and other European countries have access to safe, tested cannabis.”
Fellow German cannabis outfit Avextra has secured approval from the Italian Medicines Agency AIFA and the Italian Ministry of Health for a Phase II study to evaluate safety, and efficacy of its oral formulation in managing Amyotrophic Lateral Sclerosis (ALS), Alzheimer’s Disease and Parkinson’s.
Dr Bernhard Babel, CEO, at Avextra. “With two active Phase II clinical trials, in Belcanto in Germany and Neurobis in Italy, Avextra is uniquely positioned with the necessary skills and capabilities to design clinical trials and develop pharmaceutical IP with cannabis-based medicines with the potential to improve patient’s quality of life.”
Court Rules In Favour Of Hemp
The EU Court of Justice has overturned a decision by the Romanian Court of Appeal which had outlawed the cultivation of hemp indoors.
The ECJ determined that ‘hydroponic cultivation increases agricultural productivity, develops technical progress, and ensures better use of inputs’.
It said that ‘not allowing hemp farmers to benefit from the Common Agricultural Policy with this innovative technique would cause significant economic damage’.
Three years after Malta became the first European nation to legalise cannabis possession and cultivation, Joey Reno Vella, CEO of the Authority for the Responsible Use of Cannabis (ARUC) says it is considering easing the rules on consumption locations and methods.
In an interview with the Times of Malta he said he is personally in favour of on-site consumption going on to say the ARUC is holding meetings with stakeholders to study how it can be done.
At present, the law only allows cannabis users to smoke in private, which essentially means at home, but this is difficult for those who have children because the law also prohibits smoking in the presence of minors, he explained.
He went on to say it is also considered adding resin and edibles to the existing dried cannabis option currently available.
