Best synopsis we’ve yet seen on the state of the German market
Concerns on the potential misuse of prescriptions by telemedicine services without a preliminary medical consultation are emerging, with Lower Saxony Health Minister seeking to close “legal loopholes” allowing to get cannabis “with just three clicks on the internet”:
- The German Medical Association has expressed doubts as to whether having a questionnaire filled out actually complies with a doctor‘s duty of care, given a majority of young men using these services. While the ultima ratio principle no longer applies since April 1st, a real medical indication should exist in order to issue a prescription, and exclusively remote treatment should be limited to cases with a recorded medical history.
- German municipalities like Wiesbaden are planning recreational cannabis pilot projects, potentially with pharmacy distribution; authorisation by the Ministry of Food and Agriculture required, but no timeline has been provided.
- Some 226 applications for cannabis clubs have been received by federal states, less than previously expected, but few have been approved yet. The first cannabis association in Berlin, Green Leaf Society, and in Rhineland-Palatinate, have been approved.
- German trade groups oppose new hemp-derived psychoactive substances: after ban on HHC, THCP, newly introduced substances include 8-OH-HHC, 10-OH-HHC, THCJD or HHCH.
- The Federal Bar Association criticises the lack of definition for “non-small amount” of cannabis in the Cannabis Act, suggesting to eliminate vague terms if the legislature cannot define it.
- Ministry of Defense maintains cannabis consumption ban for active soldiers, citing risks to operational readiness and public safety. Reservists allowed to use cannabis privately but advised to cease before military service.
Germany imported 11.7 tonnes of medical cannabis in Q2, up from 8.1 tonnes in Q1, reflecting the positive momentum in the medical market after legalisation. Canada remains the largest supplier accounting for over 50% of imports, followed by expanding relationship with Portugal, Denmark, Macedonia or Spain, with notable declines from Australia, the Netherlands, and the UK.
- A report by Bloomwell group finds price compression of 50% compared to last year, with the current average price of medical cannabis flower sitting below €9/g.
- Data from statutory health insurance IKK finds no increase on reimbursed prescriptions this year, while extracts still account for over 60% of reimbursements.
- Cantourage has recorded revenues of almost €25m in the first 8 months of 2024, a 62% increase compared to last year, with sales 188% up to €4.9m in August vs €1.7m last year.
- Synbiotic reports strong growth, with Weeco Pharma achieving a 300% sales increase, and Hempro International and MH medical hemp experiencing 50% sales growth.
- Demecan nears 100 million euro valuation after completing a 7-digit funding round led by Trog Hawley Capital to enhance Demecan’s online selling platform.
- Flora Growth now trades on the Frankfurt Stock Exchange under the symbol “7301”.
- Sanity Group’s Avaay Medical will introduce Khalifa Kush cannabis brand in early 2025.
- Tilray’s subsidiary Aphria RX has received a trading license to sell medical cannabis in Germany.
- Canify partners with Lesotho-based MG Health to bring new cultivars from September 2024.
- Dermapharm‘s isolated cannabis business C³ Group has not met expectations despite partial legalisation: group plans to expand offerings to flowers and extracts.
