Canadian Firms Forced to Play Waiting Game as Germany Hits Pause on Cannabis Licensing Process

Article by Mark Rendell, Financial Post

Canadian firms forced to play waiting game as Germany hits pause on cannabis licensing process Germany is seen by many as the crown jewel of the European medical marijuana market. The German medical market could be worth as much as 10.2 billion euros annually in the coming years.Darren Brown.

Canadian companies hoping to grow cannabis in Germany are looking at a delay of several months or more, following a German court decision on Wednesday to halt the government’s tender process for cultivation licences.

A number of Canadian companies and their German subsidiaries were believed to have been on the shortlist for the 10 licences, including Canopy Growth Corp., MedReleaf Corp., Aurora Cannabis Inc. and Aphria Inc. (through its recent acquisition of Nuuvera Inc.).

Other companies, such as Maricann Group Inc., Tilray and Cronos Group Inc. are also invested in Germany, and may have been in the running as well. It’s unclear when the tender process will continue and whether or not it will have to start from the beginning.

The 10 cultivation licences, which were tied to a 6,600 kilogram supply agreement for the Federal Institute for Drugs and Medical Devices running from 2019 to 2022, were expected to be awarded in the coming weeks. They would have been the first licences to grow in Germany since the country legalized medical marijuana last spring.

On Wednesday, however, a Dusseldorf Higher Regional Court judge halted the tender process, arguing that the timeline given to companies had been too short.

Read the full article here.

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