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The beginning of 2020 has been eventful for the cannabis and psychedelics industries. MDMA received a limited FDA approval which will allow terminally ill patients legally use experimental drugs as a part of the treatment, GW Pharma exceeded expectations for Q4 2019 sales, LYPHE Group has registered their first Medical Cannabis Clinics as part of a patient first, the end-to-end ecosystem of medical cannabis businesses. Our selective headlines are focusing on all important updates in cannabis and psychedelics industries.
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The Latest News
Regulatory updates
Upcoming EU vote on removing cannabis from WHO Schedule IV classification. In March 2020 there will be a United Nations Commission on Narcotic Drugs (CND) session in which members have a right to vote on World Health Organization cannabis reclassification recommendations affecting the scheduling of different categories of cannabis products. One of these supported changes, removing cannabis and cannabis resin from Schedule IV of the Single Convention on Narcotic Drugs (1961). To read more
Danish politicians unite behind drive to legalise the use of drugs, including cannabis. Fines and imprisonment for possession of drugs for personal consumption must be replaced by compulsory treatment. This is a proposal from the Alternative that would change current legislation on euphoric drugs. With the proposal, Alternatives continues to believe it should be illegal to smuggle, sell and possess drugs that are not for their own consumption. To read more
MDMA just received early but limited FDA approval. On Friday, the Multidisciplinary Association for Psychedelic Studies announced that the FDA granted Expanded Access designation to MDMA, a Schedule I drug. The FDA’s Expanded Access or “compassionate use” program allows terminally ill patients or those with difficult-to-treat conditions to legally use experimental drugs that haven’t yet received full FDA approval. To read more
Free Weed: Sicily Is No Longer Charging Patients for Medical Cannabis. Sicily’s Health Chief signed a decree that will provide medical cannabis and cannabis products — free of charge — to Sicilian patients. Sicily has socialized healthcare, so the citizens's taxes will cover the costs. The move is also expected to boost Italy’s medical marijuana market. Italy as a whole sold an estimated €3.42 million of legal cannabis in 2019. To read more
Market updates
GW Pharma exceeds expectations after reporting US$108 million in Q4 sales. London-based GW Pharmaceuticals told investors Monday that it rang up $108 million in sales last quarter and $309 million for calendar 2019. The company’s fourth-quarter sales beat consensus analyst expectations of $102.4 million. GW attributed the sales figures to physicians being amenable to prescribing the company’s cannabis-derived epilepsy drug, Epidiolex. To read more
Product supply interruptions hit German medical cannabis market, but government dismisses risk of shortages. Supply disruptions are rippling through Germany’s growing medical cannabis market, but the country’s federal government says there are no signs at the moment of widespread product shortages. To read more
Codebase Ventures to focus on mental health treatments using mushrooms and psychedelics. Codebase Ventures Inc, a venture capital company investing in early-stage technology and cannabis companies, said Wednesday that it is adding a new investment focus on mental health treatments exploring new frontiers of mushrooms and psychedelics. To read more
UK's First National Network of Medical Cannabis Clinics Ignites a Step Change in Patient Numbers. The Medical Cannabis Clinics is the UK's largest and fastest growing chain of private cannabis clinics, with doctors operating from seven locations across the country and more openings planned over the coming months. LYPHE Group own and run The Clinics as part of a patient first, end-to-end ecosystem of medical cannabis businesses. To read more