Curaleaf International Comments As German Federal Cannabis Law Passes Without Delay
LONDON, March 22, 2024--(BUSINESS WIRE)--Today, it has been announced that the German Federal Government's cannabis law, also known as Pillar 1, has successfully progressed without delay. Following the positive outcome of the vote in the German Bundestag on February 23, 2024, the legislation has swiftly moved through subsequent stages of approval, culminating in its enactment.
Juan Martinez, Head of Curaleaf International, a leading cannabis company in Europe, commented:
"The successful passage of the Cannabis Act represents a significant milestone in our journey towards destigmatisation and decriminalisation of cannabis for both patients and consumers.
The removal of cannabis from the narcotics list and the subsequent implementation of comprehensive regulations will not only benefit patients and consumers but also pave the way for a thriving and regulated cannabis market in Germany.
As a company deeply invested in the European cannabis landscape, we are excited about the opportunities this legislation brings. With a robust regulatory framework in place, we anticipate broader insurance coverage, reduced administrative burdens for prescriptions, and a substantial growth trajectory for both the medical markets and eventually the regional model projects with commercial supply chains. This growth, coupled with the potential domino effect on other European markets, positions Germany as a trailblazer in shaping the future of cannabis in Europe.
Curaleaf has strategically expanded its European footprint through our Terra Verde facility in Portugal, leading UK clinic and pharmacy, top German brand in Four 20 Pharma and strategic acquisitions of Clever Leaves in Portugal, Can4Med in Poland, and Northern Green Canada. Our full seed-to-sale process allows us first mover advantage to meet the anticipated demand from a thriving, regulated, and safe cannabis industry.
We remain committed to supporting the German market and fostering an environment that prioritises patient well-being and accessibility. Our dedication to advancing scientific research, innovation, and responsible cultivation practices aligns with the objectives of the Cannabis Act, and we are eager to contribute to its successful implementation."
About Curaleaf International
Curaleaf International is one of the largest vertically integrated cannabis companies in Europe. Its unique supply and distribution network throughout the European market brings together pioneering science and research with cutting-edge cultivation, extraction, and production. Amidst a rapid growth trajectory, the emphasis on quality and expertise aims to ensure the delivery of safe, reliable, and effective care for all.
Curaleaf International's subsidiary network includes Curaleaf Clinic, Curaleaf Pharmacy, and Curaleaf Laboratories within the UK. Additionally, it extends to Terra Verde cultivation facility in Portugal, the Medalchemy research and development site in Spain, the Four20 Pharma wholesaler and distributor in Germany, and the Polish wholesaler Can4Med.
Curaleaf International is part of Curaleaf Holdings, Inc., a leading global cannabis company. Curaleaf is listed on the TSX (Toronto Stock Exchange) and trades on the OTCQX market under the symbol CURLF.
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Contacts
Iskander Javed, Third City
07719939893
iskander@thirdcity.co.uk
