No kidding, Germany’s home grows start today

BIG DAY, NO KIDDING
Germany’s legalization plans kick off today

Driving the news: If you read this newsletter, you already know, but today is the day that Germany’s cannabis reform measures kick off. 

Germans will be allowed to grow cannabis at home starting today. The more robust, albeit uniquely German approach of cannabis clubs, or non-commercial entities where people can purchase cannabis, kicks off in July.

What they’re saying: Steve Rolles from Transform Drug Policy Foundation in the UK, wrote in the The Guardian that cannabis in Europe is reaching a tipping point — and that Britain should be paying attention.

Cannabis in Europe: Calling it a tipping point might be a bit premature, though the evidence is mounting. 

Yes, Germany has a cannabis reform plan going into effect today — and there are limited legalization plans in Malta and Luxembourg, with other pilot projects in Switzerland and the Netherlands. 

But the drum beat for reform is not the same as what’s happening in North America. Even in the UK, where a medical cannabis program is active, estimates suggest that only between 20,000 and 47,000 patients have accessed medical cannabis. And as we’ve learned in Europe, like in North America, reform comes slowly. 

Sometimes painfully slow.

What’s next: We anticipate that all eyes will be on how Germany’s “legalization-lite” — as Rolles called it in The Guardian – plays out. If it goes off without a hitch, perhaps other countries like the UK will follow. 

In the meantime, if you’re reading this in Germany, good luck during this home growing season!

-JR

The drumbeat on cannabis reform continues from the White House. 

On Friday, in a proclamation acknowledging “Second Chance Month,” the statement included a mention of federal cannabis-related pardons. 

When weed came sweeping down the plains, Oklahoma became an unregulated gold rush for cannabis entrepreneurs. Then came the mass murder. | Business Insider

Report: Cannabis capital raises, M&A both down significantly year-over-year | Green Market Report

Aurora Cannabis to settle shareholder lawsuit over alleged ‘sham’ pot sales | Yahoo! Finance

“Cannabis is cultivated, and products are manufactured, in accordance with good manufacturing practices. Products are lab tested and labeled accordingly. And sales are taxed, with revenues being reinvested in the community. Since 2014, retail sales of adult-use cannabis products have generated more than $15 billion in tax revenue,” writes Paul Armentano from the National Organization for the Reform of Marijuana Laws in an op-ed for Marijuana Moment. 

In the op-ed, Armentano takes direct aim at a trio of recent policy positions put forward by Republicans: 1. former Attorney General Bill Barr, 2. the House Republican Policy Committee, and 3. last week’s letter from  three big-name Republican Senators sent to the Drug Enforcement Administration.

iAnthus reported their quarterly earnings late last week, and it wasn’t a great one. Revenue down 2.4% from last year, gross profit down 15.1% from last year, and a 5.9% decreased gross margin.  

Not to be left out, Leafly also reported their earnings last week. Revenue, retail revenue, and brand revenue were all down versus the previous year.

Aaron Ghitelman, the Deputy Director for the New York State Office of Cannabis Management, is leaving his role for new opportunities. From his LinkedIn post:

Now that cannabis is legal in Maryland, perhaps someone will bring this product back to market. We’re kidding, of course.