Little Green Pharma (ASX:LGP) says Germany's decision to legalise the product is the most significant legislative change in the global cannabis market since Canada did the same in 2018.
Germany is currently the most significant medicinal cannabis market in Europe. The legalisation will make it the largest federally legal cannabis market globally and is anticipated to result in an increase in the number of patients and consumers by multiples while catalysing similar changes across Europe.
The change allows for the establishment of not-for-profit cannabis clubs, limited home cultivation and possession of personal use quantities. It also means the existing medical access pathway will be substantially improved by removing prescribed conditions, narcotic reporting, and pharmacy stockholding limitations, easing the rules around telehealth services, e-scripts, and patient direct delivery.
Little Green Pharma said the change presents a unique opportunity given its well-established partnerships with multiple German distributors, a large bank of cannabis genetics, and ownership of the largest and most advanced EU GMP-recognised medicinal cannabis facility in Europe, located just two hours from the German border. Ongoing EU GMP standards for medicinal cannabis will also continue to constrain North American non-GMP supplier participation in the market.