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European Cannabis Q3 2024 Quarterly Update
Nov. 14, 2024 by SOMAÍ Pharmaceuticals
“WOW” is the only word to describe the excitement buzzing around the European cannabis community. The cannabis markets in Europe and abroad have been set ablaze with the most dramatic shifts forward with cannabis legislation since the European Union began opening access to cannabis in 2017.
All sides of the industry are benefitting from these exciting developments: Cultivators who were once squeezed are now finding homes for their flower; extracts are selling more than ever; distributors are hitting profitable margins; cannabis clinics are popping up at a rapid pace; new countries are opening access to cannabis; and pharmaceutical players are entering the market in force.
Medical Cannabis in Germany is Leading the Way
The main driver of cannabis volume in the EU is coming from Germany after the country removed cannabis from the narcotics list in April 2024. New clinics have entered the market rapidly over the last quarters to fulfill patient-driven demand. Removing the narcotic listing of cannabis has thrust Germany into the global spotlight and allowed doctors to prescribe cannabis freely. After all, the Department of Health and Human Services’s report definitively states that cannabis is safe and Germany agrees.
As access becomes easier, German patient numbers are increasing, and these patients are being serviced faster than ever. Volumes are doubling and tripling across the board, floating all boats and bringing much-needed revenue, profit and investment monies to an industry that was self-cannabilizing for years.
Financial Outlook of Medical Cannabis in Germany
Germany is on track to reach a one-billion-euro market by mid to late 2025. Numbers like these have drawn the attention of Big Pharma players. Politicians are also eyeing the 190 million Euros in TVA taxes that will be generated through cannabis sales 19% TVA, not to mention the benefits of job creation decrease in illicit market activities.
One billion euros of GDP growth and 190 million euros in taxes is enough to make countries in the EU and globally pay attention and start addressing the medical benefits of cannabis access as well as the benefits of policies to curb illicit cannabis use under solid regulatory frameworks.
The massive success of Germany’s burgeoning medical cannabis market has lit a fire under every regulatory agency in the EU — and globally — and there is little stopping this movement.
What to Expect from the German Cannabis Market in 2025
Patient numbers will keep increasing rapidly throughout the fourth quarter of 2024 and into 2025. Cultivators worldwide will find a home for their products and fill the gaps in patient demand as they push back against years of price compression.
Cultivators looking to raise prices and patient-driven initiatives to lower prices leave distributors and pharmacies squeezed in the middle. New pharmaceutical distribution models add additional pressure to stressed cannabis distribution models in the middle. The increased demand for cannabis makes the short-term navigable as distributors and pharmacies emphasize service volume over quality, thus picking up margins. However, that will most likely only be temporary. By mid-2025, we can inevitably expect margin compression from patients which will pressure the operators in the middle.
Medical Cannabis News Across the EU
Germany isn’t the only country making waves in the medical cannabis industry.
Spain proudly debuted its medical cannabis rules after three years of waiting and seems intent on a magistral extract-only market.
Ukraine’s law officially legalizing medical cannabis is now in effect, eight months post-approval. While the Ministry of Health is finalizing the list of approved medical conditions, it notably excludes post-traumatic stress disorder (PTSD). Efforts are underway to ensure patients with non-listed conditions can still access treatment, although their access may be more limited.
France has announced a temporary delay in accepting new applications for its extract-only market until the beginning of 2025. This decision is part of an amendment proposing to modify the Social Security Financing Law to extend the transition period by an additional year, pushing the end date to December 31, 2025.
Almost every EU country is now revisiting their cannabis policies: Ireland is debating adding chronic pain to the limited list of indications; Czechia is expected to change access rules; Poland has been increasing their volume limits, and so on. It’s an exciting time for medical cannabis in the EU.
Global Medical Cannabis Developments
Countries around the world are also revisiting their medical cannabis laws and experiencing exciting shifts toward increased patient access.
Brazil’s extract-only market has been surging, aided by a Supreme Court ruling superseding current laws.
Japan temporarily pushed its new CBD rules back until Q4. The country still seems to be on track to make its most significant change in 75 years, even though the shift is small by global standards.
A Financial Look at the Global Medical Cannabis Industry
Money has quietly been finding homes in the biggest names, and there is hope that smaller groups will start to attract much-needed capital as investors comb from the top down.
Somai Pharmaceuticals once again completed its pre-planned second-round raise, adding 8 million euros to continue increasing its multi-country strategy and bringing its total cap stack to 30 million euros. The final raise marked the successful completion of a KPI-driven strategy set four years ago.
Demecan seems to have raised an undisclosed seven-figure amount, giving it an almost 100-million-euros valuation. The company received a combination of equity and convertibles from an American investment firm.
Although the announced raises are lagging, there may be far more additional internal or smaller, unannounced investments. Nevertheless, there is a considerable amount of buzz and action in the medical cannabis markets worldwide. Q4 will certainly bring more deals to a close, as well as more EU countries joining the push for medical cannabis access.
Cannabis in the EU: Poised for Future Growth
The EU cannabis explosion is happening, and everyone is feeling the positive results after many tough years of increased competition without an increase in the market. We’re beginning to see an increased market with less worry about the competition since all are making money as the industry explodes.
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Karma Koala Podcast Episode 67: This Week Michael Sassano, Inesa Ponomariovaite & Our Regular Segment From Dentons German Cannabis Head, Peter Homberg
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Innovations in Dosing Technologies: Getting an Accurate Hit, Every Time
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Safety and Culture at Forefront of Cannabis Social Club vs. Dispensary Debate
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Synthetic Cannabinoids versus Plant-Derived Products
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How Germany Can Enter The Adult-Use Cannabis Market Successfully
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How Germany Can Enter The Adult-Use Cannabis Market Successfully
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Portugal Is Highly Likely To Legalize Recreational Cannabis
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Uber Eats to Offer “Baked Goods” with Canadian Cannabis Partnership
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Michael Sassano, Renowned Pharmaceutical Expert, and Founder and CEO of Somai Pharmaceuticals LTD Zoom Interviewed
EIN Presswire Michael Sassano, Renowned Pharmaceutical Expert, Founder & CEO of Somai Pharmaceuticals LTD Zoom Interviewed for The DotCom Magazine
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Cannabis Investment: 7 Best Marijuana Stocks to Buy for 2022
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Michael Sassano: GMP Series #8: Manufacturing Startup
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Few Medical Cannabis Licenses in Portugal Have Been Awarded
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Cannabis Co. Receives $3M ‘Innovative Products’ Grant From Government, EU In Portugal
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BusinessCann SOMAÍ Pharmaceuticals Unipessoal LDA has received an innovative products grant of 2.7 million euros by the Portugal 2020 committee....
Projeto Nº POCI-02-0853-FEDER-179647
SOMAÍ Pharmaceuticals Unipessoal LDA has officially opened its new state-of-the-art pharmaceutical EU-GMP facility in Portugal.
EU: Cannabis company receives €2.7 million grant
MMJ Daily Somaí Pharmaceuticals has received a €2.7 million grant from the Portugal 2020 committee.
SOMAÍ Pharmaceuticals Erhält Im Rahmen Von Portugal 2020 Fördermittel In Höhe Von 2,7 Mio. Euro
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SOMAÍ Pharmaceuticals awarded €2.7M in funding from Portugal 2020 Grant
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SOMAÍ Pharmaceuticals awarded €2.7M in funding from Portugal 2020 Grant
AP News LISBON, Portugal, Nov. 10, 2021 (GLOBE NEWSWIRE) -- SOMAÍ Pharmaceuticals Unipessoal LDA has received an innovative products grant...
SOMAÍ Pharmaceuticals awarded €2.7M in funding from Portugal 2020 Grant
Opera News LISBON, Portugal, Nov. 10, 2021 (GLOBE NEWSWIRE) -- SOMAÍ Pharmaceuticals Unipessoal LDA has received an innovative products grant...
SOMAÍ Pharmaceuticals awarded €2.7M in funding from Portugal 2020 Grant
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These Are The Cannabis Industry’s Biggest Tricks and Treats So Far
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Does Big Business Provide A Better Look Into Cannabis Reform Than Capitol Hill?
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Does Big Business Provide A Better Look Into Cannabis Reform Than Capitol Hill?
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Does Big Business Provide A Better Look Into Cannabis Reform Than Capitol Hill? Operators Believe So.
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GMP Series Part 3: Process Equipment Procurement
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Could Drug Store Giants Eventually Sell THC? It’s Possible, But Many Hurdles Remain
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European Cannabis is Starting to Look Like the US Market 10 Years Ago
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CANNA WORLD EXPO EUROPEAN UPDATE SOMAI PHARMACEUTICALS CEO MICHAEL SASSANO
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Beyond CBD, THC: ‘Minor’ Cannabinoids Flood Market — Lack of data is concerning, even for practitioners who believe in medical cannabis
MedPage Today On the heels of the cannabidiol (CBD) craze come three other cannabinoids touted as potential treatments for various...
Why GMP is the Future of Quality Control for the Global Industry
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SOMAÍ Pharmaceuticals Bringing The Future Of European Cannabis Market
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SOMAÍ Pharmaceuticals Bringing The Future Of European Cannabis Market
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Morocco: Cannabis Legislation but the Devil in the Details
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Low-Cost Pot Stocks To Consider, According To SOMAÍ Pharmaceuticals CEO Mike Sassano
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Cannabis Revival and Year of the SPAC’s: What’s To Be Expected the Rest of 2021?
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SPAC Mania: The Biggest Cannabis Boom Is Yet To Come
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GMP Series Part 2: Building and Design – Authored By: Michael Sassano and Antonio Guedelha
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Benzinga Cannabis Capital Conference | February 25-26, 2021 | Michael Sassano
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Cannabiz: How to Invest in This Growing Industry
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GMP & Compliance: GMP SERIES #1: “Starting Your GMP Approval Process for Cannabis Correctly”
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PREDICTIONS | Want to know the future? There are two ways: a crystal ball or really smart people (pages 74-75)
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These Are The Top European Cannabis Companies
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UK to see largest medical cannabis market growth in Europe 2020 to 2025
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Desert Oasis | Solaris Farms is capitalizing on a prime location and plenty of Nevada sunshine (page 58-61 November issue)
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Cannabis Top 20: North America’s Largest Commercial Grows
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Real Deals – Michael Sassano
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Best practices for securing your cannabis grow operations and supply chains
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Cannabis Terpenes: What Growers Need to Know
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Opening the Pot: Vegas Cannabis Industry Moving Ahead Amidst COVID
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California joins push to let cannabis businesses use banks as part of coronavirus relief
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Cannabis company executives speak to the industry’s trying times
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Why Large-scale cannabis producers are turning to Hybrid Greenhouses
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Lawmakers Look to Include Cannabis Banking Reform in Next COVID-19 Stimulus Bill
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COVID-19 Is Leaving Its Mark On The Cannabis Industry, Insiders Say
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Why Cannabis Will Boom During the “New Normal”
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Cannabis Do-Gooders: These Companies Are Lending A Helping Hand Against COVID-19
Benzinga “Creating a safe environment while cannabis is deemed 'essential' added tremendous positive energy for our team, while at the...
Cannabis Do-Gooders: These Companies Are Lending A Helping Hand Against COVID-19
Yahoo finance "Recently, in-order to give back to the community and create outward good will, Solaris Farms reduced pricing to...
Hemp Companies Step Up To Help During Pandemic
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Cannabis Pros Sound Off On How Coronavirus Pandemic Will Affect Industry
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CannaBusiness Tips For Coronavirus Times
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Cannabis Executives on Turbulent Markets: “Don’t Panic”
Equities “I’m a believer in letting the flood gates open. But I see things from a well established position. The...
Michael Sassano: the man bringing US cannabis know-how to Europe
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Michael Sassano: the man bringing US cannabis know-how to Europe
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Michael Sassano: the man bringing US cannabis know-how to Europe
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New Cannabis Products: Kiva’s Camino CBN Line, Solaris x Cannabis & Culture’s Line And A Topical Cream
Yahoo finance "With over $100,000 in sales the first week of launch, it’s clear that Culture and Cannabis’s reach means...
New Cannabis Products: Kiva’s Camino CBN Line, Solaris x Cannabis & Culture’s Line And A Topical Cream
Benzinga Michael Sassano, CEO of Solaris, told Benzinga, "The merger of the Culture and Cannabis media group with Solaris Farms...
European Union Urges Member Nations to Vote for World Health Organization’s Cannabis Rescheduling Recommendations
Cannabis Business Times “The 1961 Narcotics Act of Europe is similar to [the Drug Enforcement Administration’s (DEA)] Schedule I in...
“Marijuana is a global trend that can no longer be stopped.”
Incrussia The largest marijuana market in Europe is now Germany ($100 million). The American market is estimated at about $10...
Which European Countries Cannabis Investors Should Watch in the New Decade
Equities Europe is at the crawling stage of cannabis development and starting their first awkward steps with medical acceptance. -...
Solaris Farms & Tech-Driven Growing
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‘Big Cannabis’ Technologically Ahead Of Its Times, But Post-Harvest Automation Remains Elusive
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U.S. leads in cannabis innovation, but cedes global market to Canada
The Denver Post The genetics and sophistication underlying the U.S. cannabis industry lead to better-quality and higher-potency flowers for those...
American pot is the gold standard. But Canada leads the export game — for now
Salon The genetics and sophistication underlying the U.S. cannabis industry lead to better-quality and higher-potency flowers for those who smoke...
American pot is the gold standard. But Canada leads the export game — for now
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From Seed to Sale Nevada’s Cash Crop Cannabis Industry
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America’s marijuana growers are the best in the world, but federal laws are keeping them out of global markets
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What Should Investors Take Away From MJBizCon 2019?
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How to Do Cannabis Cultivation Business Planning for Growth
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“5 Things I Wish Someone Told Me Before I Started Leading a Cannabis Business”, with Michael Sassano and Len Giancola
Medium The cannabis business is a complete dedication and you must make large sacrifices for it. It is very fast...
Key trends when investing in the Cannabis industry in Opportunity Zones
Opportunity Zone Cannabis land development is growing and gaining traction in Opportunity Zones (OZ). Not only has a large amount...
Vegas Hybrid GreenHouse Dominance by Mike Sassano – page 20
Vegas Cannabis magazine
The Cannabis Cultivation Costs by State
MG Retail Magazine To the outside world, the legal cannabis industry appears to be one big cash machine. While it’s...
Mike Sassano: Increasing Potency with Greenhouse Technology
Ganjapreneur Michael Sassano is the CEO and founder of Solaris Farms, one of three large greenhouse cannabis cultivators in Nevada....
OZ WRITERS COUNCIL DIRECTORY
OZ WRITERS COUNCIL DIRECTORY The Council is an invitation-only group of executives and professionals with experience in the Opportunity Zone...
Are cannabis hand-trimmers an endangered species?
Leafly Many people in the cannabis industry start out as trimmers. Wearing “sticky gloves” is a way to learn the...
Automation and sensors in hybrid greenhouses
AgTechTomorrow Solaris is a high tech hybrid greenhouse designed specifically for desert environments. It was the first ground up hybrid...
Desert Greenhouse Cultivation
Blunt Business Desert greenhouse cultivation with Michael Sassano Founder and CEO of Solaris Farms. Michael says they have the largest...
Five Diverse Questions With Michael Sassano, Founder: Solaris Farms
Forbes I was born and raised in Cleveland, Ohio before attending Boston University. I graduated Cum Laude with Distinction in...
Automation is the Future of Cannabis
Equities As industries evolve, the companies within them consistently work to implement new methods that update their processes so they...
How Solaris Farms’ Michael Sassano Works: Cannabis Workspace
Cannabis Business Times In this installment, CBT presents an up-close look at the tools and habits behind the Nevada-based cultivator’s...
Federal Court Orders DEA to Explain Inaction on Cannabis Cultivation Applications
Analytical Cannabis Michael Sassano, founder and CEO of the Nevada-based cannabis cultivation operation Solaris Farms, told the Cannabis Business Times,...
Federal Court Orders DEA to Explain Why It Has Ignored Cannabis Cultivation Applications
Cannabis Business Times A federal court has ordered the Drug Enforcement Administration (DEA) to explain why it has not responded...
Soma Pharmaceuticals Reveals Plans for Ireland’s Medical Cannabis Market
Cannabis Business Times As cannabis policy reform continues to sweep the globe, Ireland has launched a medical cannabis pilot program,...
What Technology Will Most Impact The Cannabis Industry? 24 Experts Share Their Insights
Disruptor Daily Cannabis legalization is gaining serious steam, and the industry is coming to a crossroads as nationwide demand for...
Solaris Farms Tackles Desert Heat with Global Tech
CannabisTech When Michael Sassano founded Solaris Farms in the Las Vegas area in 2016, his goals were ambitious - create...
What Trends Are Shaping The Cannabis Industry In 2019? 25 Experts Weigh In
Disruptor Daily Considering the topic of this article, you'd be forgiven for wondering whether it's 4/20 yet. It's not, but...
What’s The Future Of The Cannabis Industry? 28 Experts Share Their Perspectives
Disruptor Daily Bob Dylan once said that the times are a-changin', and no industry echoes that message like the cannabis...
CANNABIS INTERVIEW – MICHAEL SASSANO – FOUNDER SOLARIS FARMS
Cannabis Magazine Want to know more about one of the world’s largest greenhouses for growing cannabis? We sat down with...
Mike Sassano – A Cannabis Business in the Opportunity Zone
BuzzSprouts Mike Sassano's eclectic career has taken him from Cleveland to Wall Street, to Monaco and now Las Vegas. As...
Define “Organic”: The Cannabis Movement Is Stuck On Labeling
Dope Magazine Michael Sassano of Nevada’s Green Cross of America said all cannabis grown in the state is done without...