.jpg)
SOMAÍ Pharmaceuticals has entered the Swiss medical cannabis market!
SOMAÍ Pharmaceuticals has made a significant move by entering the Swiss medical cannabis market through a strategic partnership with Dascoli Pharma AG. This collaboration aims to enhance access to high-quality, pharmaceutical-grade medical cannabis extracts for Swiss patients and healthcare professionals
SOMAÍ will introduce its EU-GMP full-spectrum Essentials line extracts, which are formulated from single-strain, full-bud flowers to ensure pharmaceutical-grade purity, consistency, and efficacy. These extracts are designed to meet the highest European standards and provide precisely dosed and clinically supported treatment options
Michael Sassano, CEO of SOMAÍ Pharmaceuticals, emphasized the importance of this expansion, stating that it solidifies SOMAÍ's role as a leader in the cannabis pharmaceutical sector. Andrew Petronanos, Founder & CEO of Dascoli Pharma AG, highlighted the strength of the partnership, noting that it will improve patient access, enhance industry standards, and contribute to the ongoing evolution of medical cannabis in Switzerland.
This entry into the Swiss market is part of SOMAÍ's broader global expansion, with the company already active in the United Kingdom, Germany, and Australia, and plans to launch in Ireland and Poland in 2025.
Italy's cannabis industry is seeing positive changes as it continues its fight for survival!
Support from Forza Italia: The centre-right Forza Italia party has unexpectedly supported the Italian hemp industry. This support strengthens the industry's position against the government's efforts to impose stricter regulations on industrial hemp.
European Commission Investigation: The European Commission (EC) has announced plans to investigate the legality of the Italian government's proposed crackdown on the hemp industry. This investigation is a significant step in protecting the industry from potentially harmful regulations.
Council of State's Questioning: The Italian Council of State has questioned the government's efforts to classify hemp as a medicinal plant and regulate its usage strictly. This questioning is seen as a victory for the hemp industry, as it challenges the government's restrictive approach.
Petitions Committee of the European Parliament: Earlier this month, the Petitions Committee of the European Parliament accepted a petition from various Italian hemp industry associations. The committee plans to conduct a preliminary investigation into the issue, which could lead to further support for the industry.
These positive changes indicate that the tide may be turning in favor of the Italian cannabis industry, providing hope for its survival and growth.
Private clinics are becoming vital in making medical cannabis mainstream, especially for chronic pain management!
Boom in Private Prescriptions: There has been a notable increase in private prescriptions for medical cannabis. The number of private prescriptions more than doubled from 81,476 in 2021-22 to 177,556 in 2022-23. This growth is driven by the establishment of numerous private clinics and pharmacies in the UK since the legalization of medical cannabis in 2018.
Challenges with NHS Access: Despite the legalization, many patients are still finding it difficult to obtain medical cannabis through the NHS. The number of NHS prescriptions remains extremely low, with fewer than 10 issued in 2022-23. This has led patients to turn to private clinics for access to the medication they need.
Private Clinics' Role: Private clinics have become vital in making medical cannabis more accessible. Clinics like Releaf, which claims to be the UK's fastest-growing medical cannabis clinic, have been instrumental in providing prescriptions to patients with a wide range of health conditions. These clinics often offer online video consultations with doctors, making it easier for patients to get an initial prescription.
Marketing and Promotion: The private market for medical cannabis is also seeing significant marketing efforts. Government-approved outlets are selling cannabis by the gram, with brand names such as Sour Headstash and Gorilla Glue. Celebrities and influencers are promoting some clinics and drug brands on social media, further boosting the visibility and acceptance of medical cannabis.
Concerns and Criticisms: There are concerns that the legal market for medical cannabis has created a "pseudo-recreational market" for the drug, while failing families who genuinely need it. Senior doctors have warned that the system is not working as intended and needs to be reformed to better serve patients.
These developments highlight the growing importance of private clinics in the medical cannabis industry and the ongoing challenges in ensuring equitable access to this treatment.
Switzerland is making significant strides towards legalizing recreational cannabis under a state-controlled model. Here are some key points:
Legislative Progress: Swiss lawmakers have introduced a bill to legalize recreational cannabis, aiming to curb the illegal market and safeguard public health. The Health Committee of the House of Representatives approved the draft bill with 14 votes in favor, nine against, and two abstentions.
State-Controlled Monopoly: The proposed legislation would place recreational cannabis sales under a state monopoly. Cannabis products would be sold at licensed physical shops and one state-approved online shop. Revenue from sales would fund harm reduction, addiction services, and subsidies for health insurance cost savings.
Quality Control and Packaging: The bill requires strict quality controls on cannabis products, including neutral packaging, prominent warning labels, and childproof packaging. Advertising would be completely prohibited, extending to cannabis products, seeds, cuttings, and paraphernalia.
Taxation and Cultivation: Taxation would be based on the level of THC, with higher THC levels resulting in higher taxes. Swiss adults would be allowed to cultivate up to three flowering female cannabis plants for personal consumption.
Public Consumption and Driving Regulations: Public consumption rules would align with existing passive smoking protection laws to prevent secondhand smoke exposure. Driving regulations remain stringent, with a zero-tolerance policy for THC.
Public Consultation and Referendum: The next phase involves an explanatory report on the preliminary draft, followed by a public consultation period. Given Switzerland's direct democracy system, a referendum may be required before the law is fully enacted.
These developments mark a significant step towards a regulated cannabis market in Switzerland, addressing long-standing issues related to the illegal market and consumer protection.
High Tide, a Canada-based cannabis retailer, is rethinking its acquisition of a German operator!
High Tide, a Canadian cannabis retailer, recently announced its intention to enter the German medical cannabis market by acquiring a 51% stake in Purecan GmbH for approximately €4.8 million. However, the company has decided to put this acquisition on hold as it reassesses the optimal structure for the transaction.
During the due diligence process, High Tide reconsidered the deal structure and is now exploring alternative arrangements with Purecan to maintain its planned commercial exposure in the German market. The company emphasized its commitment to entering the German medical cannabis market and is exploring both alternative structures with Purecan and other opportunities for entry into Germany.
High Tide operates 192 Canna Cabana retail stores across Canada and ranks as the second-largest cannabis retailer globally by store count. The company has been expanding its retail footprint in Canada and is now looking to leverage its expertise to secure a strong position in Germany's growing medical cannabis market.
Australia's medical cannabis revenue is projected to grow significantly, potentially outpacing top EU markets!
Aurora Cannabis Expansion: Aurora Cannabis, a leading global medical cannabis company, has expanded its product offerings in Australia by introducing new medical cannabis pastilles. These pastilles are designed for easy oral intake and provide long-lasting relief. This expansion demonstrates Aurora's commitment to meeting the growing demand for high-quality medical cannabis products in Australia.
Increased Patient Access: Aurora Cannabis, in collaboration with MedReleaf Australia, has removed the concession card requirement for patients to access medical cannabis products under the IndiMed brand. This change aims to provide greater patient access to high-quality medical cannabis options, reflecting Aurora's dedication to supporting prescribers and meeting patient demand in the rapidly growing medical cannabis market in Australia.
Booming Sales: The Australian medical cannabis market has seen a significant increase in sales. A report by the Penington Institute estimates that Australians spent a record $400 million on medical cannabis in the first half of 2024. This growth is attributed to the increasing popularity of flower and oral liquid products, as well as the availability of clinics and telehealth providers.
Regulatory Environment: The Therapeutic Goods Administration (TGA) oversees the regulation of medical cannabis in Australia. Doctors can prescribe medical cannabis through the Special Access Scheme and the Authorised Prescriber Scheme. The regulatory framework ensures that medical cannabis products meet high-quality standards and are accessible to patients in need.
These developments highlight the rapid growth and evolving landscape of the medical cannabis industry in Australia.
Village Farms International is set to begin cannabis deliveries to Dutch coffee shops!
DEA Rescheduling Hearing: Village Farms was selected as the only cannabis operator to testify at the Drug Enforcement Administration's (DEA) Administrative Law Judge (ALJ) hearing on rescheduling cannabis. This hearing is a pivotal moment for the U.S. cannabis industry, as it could lead to the reclassification of marijuana from a Schedule I to a Schedule III drug under the Controlled Substances Act.
Global Expansion: Village Farms is leveraging its experience in controlled environment agriculture to capitalize on high-growth opportunities in the cannabis and CBD categories. The company operates one of the largest cannabis operations in the world through its wholly-owned Canadian subsidiary, Pure Sunfarms, and owns 80% of Québec-based Rose LifeScience.
Financial Performance: Village Farms is set to report its Q4 and full-year 2024 financial results on March 13, 2025. The company has a strong foundation as a leading fresh produce supplier and is now focusing on expanding its presence in the cannabis market.
Advocacy for Cannabis Reform: Village Farms' participation in the DEA hearing highlights its commitment to advocating for commonsense cannabis reform. The company believes that regulated cannabis can have positive economic, medical, and social impacts, and is pushing for policy changes that reflect the majority will of the American public.
These developments showcase Village Farms' strategic efforts to strengthen its position in the global cannabis industry and advocate for meaningful policy changes.
Comments