Join our daily newsletter At The Bell to receive exclusive market insights
- Little Green Pharma (ASX: LGP) reveals a groundbreaking development with the German Bundestag’s decision on Friday to legalise cannabis, removing it from the Narcotics List starting April 1, 2024
- Comparable to Canada’s cannabis legalisation in 2018, positioning Germany as the largest federally legal cannabis market globally
- The legislative shift allows for the creation of not-for-profit cannabis clubs, limited home cultivation, and personal use possession
- The move presents an opportunity for LGP, to leverage its established partnerships with multiple German distributors
- LGP shares are up 12 per cent, trading at 14 cents at 11:45 am AEDT
Little Green Pharma (ASX: LGP) has revealed a groundbreaking development with the German Bundestag’s decision on Friday to legalise cannabis, removing it from the Narcotics List starting April 1, 2024.
This marks a significant move, comparable to Canada’s cannabis legalisation in 2018, positioning Germany as the largest federally legal cannabis market globally.
As Europe’s (EU) primary medicinal cannabis market, Germany is anticipated to witness an increase in patients and consumers, paving the way for similar changes across the continent.
The legislative shift allows for the creation of not-for-profit cannabis clubs, limited home cultivation, and personal use possession.
The removal of cannabis from the Narcotics List streamlines the medical access pathway by eliminating prescribed conditions, narcotic reporting, and pharmacy stockholding limitations, as well as, regulations regarding telehealth services, e-scripts, and direct delivery to patients will be eased.
The move presents an opportunity for LGP, to leverage its established partnerships with multiple German distributors, a robust bank of cannabis genetics, and ownership of the largest EU GMP-recognised medicinal cannabis facility in Europe, strategically located just two hours from the German border.
Ongoing adherence to EU GMP standards will continue to serve as a barrier for North American non-GMP suppliers looking to enter the market.
LGP shares were up 12 per cent, trading at 14 cents at 11:45 am AEDT.
