CS MEDICA A/S sees great value in Germany’s proposed legislation of Cannabis
CS MEDICA A/S (”CS MEDICA” or the ”Company”) sees great potential in the German market following the proposal from the new German coalition government regarding the establishment of a regulated market that allows controlled sales of cannabis for adults for recreational purposes and in doing so, promotes a broader drug policy.
The new government led by Olaf Scholz has presented a proposal that would allow the controlled sale of cannabis to adults for recreational purposes in licensed shops. In more detail, the proposal includes the establishment of a regulated market for sale to adults, the consumption of marijuana, and the promotion of a broader drug policy. The broader drug policy covers regulated and taxed dispensaries, quality controls and effective youth protection laws.
Currently, there is not a definite timetable set for the introduction of legislation. The proposal could however potentially encourage other countries planning to liberate their drug laws. According to a recent study by Heinrich Heine University Düsseldorf, the decriminalization could deliver a net benefit to the German state of €4.7 billion a year, including €2.8 billion in tax revenues and €1.36 billion in savings on police and legal costs.
Germany follows the initiative of Malta, which recently became the first European Union country to legalize the use and growth of marijuana for recreational purposes. Measured by population, Germany will be the largest country in the world to legalize cannabis. The German legalization process is expected to begin in 2022.
Comment from CEO of CS MEDICA, Lone Henriksen:
“For a company providing pharmaceutical products containing cannabis and cannabinoids, this initiative is very satisfactory as it ‘eases’ the regulatory situation and shows a form of market acceptance.
We hope that Germany will mark the starting point for further legislation processes in Europe. These legislations are of great importance and can have potential effects on the operations of CS MEDICA.
The effects are not only connected to the market growth of our current product portfolio but also the upcoming dispenser product line. Legislations like these symbolize a sense of acceptance for our industry and we are glad that the market trends are moving in the right direction.”
For more information about CS MEDICA, please contact:
Lone Henriksen, CEO
Phone: + (45) 71 20 30 47
CS MEDICA A/S is a Danish medico cannabis company founded in 2011. CS MEDICA is committed to developing, manufacturing, and commercializing over-the-counter (OTC) medical device products containing cannabinoids. The Company runs its business through the two fully-owned subsidiaries, Galaxa Pharma A/S (distributor and representative of foreign manufacturers in the Nordic, registered medical device product distributor) and CanNordic A/S (Medical device developer and seller (BtB), registered medical device product manufacturer). CS MEDICA distributes products across the European borders and is headquartered in Copenhagen, Denmark.
The company is listed on Spotlight Stock Market in Stockholm (symbol: “CSMED”). For more information about CS MEDICA cs-medica.com.