Although most cannabis investors are focused on regulatory reform in the United States, we believe the opportunity in the European Union (EU) is flying under the radar.
For several years, we highlighted the progression of Germany’s cannabis industry and expect other countries in the EU to follow Germany’s lead.
During the last week, we read a few articles about France’s cannabis industry and want our readers to be aware of this emerging market. Germany is potentially creating the blueprint for modern national adult-use legalization in Europe, and France is one of the many countries that could benefit from this.
In January 2021, the French Agency for the Safety of Medicines and Health Products (ANSM) selected the companies that will supply France’s medical cannabis pilot program that’s intended to provide free products to patients enrolled in the trial.
Some of the best known companies that were selected included Aurora Cannabis Inc. (TSX: ACB) (Nasdaq: ACB) and Tilray Brands Inc. (Nasdaq: TLRY) (TSX: TLRY).
- Tilray was selected to supply GMP certified medical cannabis products for experimentation in France. As part of the experiment, Tilray supplied products to serve patients for the duration of the experiment
- Aurora was selected by the ANSM to supply medical cannabis to France during the pilot program. Several months after the program started, Aurora Cannabis completed its initial shipment of cannabis to the French medical cannabis pilot program.
France’s Council Issues Recommendation to Legalize Cannabis
A year after the research program started, France’s Economic, Social and Environmental Council issued a recommendation to enact an adult-use legalization measure. Although the council’s recommendation is not legally binding, it makes a very compelling argument for legalization, and we find this to be significant.
We believe the EU’s cannabis industry is barely in the first innings of a multi-year growth cycle and consider the commentary from the ANSM to be significant. Over the next year, we expect several EU countries to report important milestones for the legalization of cannabis and want our readers to be aware of this emerging market.
If you are interested in learning more about EU cannabis operators, please send an email to email@example.com with the subject “EU Cannabis operators” to be added to our distribution list.
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