420 with CNW — French Government Announces Decree Allowing Growing of Medical Marijuana

Last month, the French government issued a decree that allowed the growing of medical marijuana and development of the industry. The enactment took effect on March 1, 2022; however, it awaits implementation by regulators.

The act features conditions and procedures for the growth and production of medical cannabis. It has also amended some clauses in the Code of Public Health to permit cultivation, production, processing, transport, possession, import and export of cannabis and its components under medical mandate.

The development of the medicinal cannabis supply chain will be overseen by the National Agency for the Safety of Medicines and Health Products (ANSM). The agency has also created a committee of 11 members who will canvas several aspects of the supply chain. This includes identification of cannabis strains available for medical use, THC and CBD levels, track and trace systems, and consumption method of cannabis medicines as well as the pharmaceutical quality criteria.

The decree comes after a medical marijuana pilot project was launched last year targeting almost 3,000 patients with severe conditions such as chronic pain and epilepsy. The pilot program is still under operation and is supervised by the ANSM until next March. The country imported medical marijuana from overseas for the program. However, it is unclear if non-French companies will have any opportunity for involvement in the industry that the agency is developing. Under the act, the development of the cannabis industry will be influenced by the pharmaceutical industry and the medical certified supply chain.

With ANSM being the only operator, experts are concerned that the country might develop a limited market. This is because the agency might select a select number of producers for the production of medical marijuana and thus limit access. This is a similar to what happened in Italy, which relies on imports because of a lack of domestic production.

Despite having the highest consumption rates of cannabis in Europe, France has one of the strictest policies. Cannabis possession attracts a $233 on-the-spot fine. Illicit imports, exports, supply and demand attract higher penalties. Patients are also affected by the restrictions. In 2013, the country allowed access to cannabis derivatives only when other medications failed to improve the patient’s health. Although the country is the biggest producer of hemp in the European Union, the majority of the plants are grown for industrial purposes.

CBD is legal when it does not have any THC, and the sale of CBD has led to the flourishing of CBD shops. However, in recent years, the sale of CBD flower has been a point of political concern because it is unregulated. This has led to courts targeting the shops. In 2020, for instance, a court ruled that France’s ban on CBD products was not legal because CBD is fit for human consumption.

Last year, the government tried to reintroduce the ban. A French court maintained the illegality of the move stating that flower products have a THC level that is less than 0.3%. Therefore, the threshold made it possible for them to be sold legally.

As countries around the world, including France, begin to enact cannabis reforms, there is hope that major powers such as the United States could also change their prohibitionist stance eventually so that licensed companies, including Cannabis Strategic Ventures Inc. (OTC: NUGS), can operate freely at a national level rather than having to navigate a patchwork of state laws.

NOTE TO INVESTORS: The latest news and updates relating to Cannabis Strategic Ventures Inc. (OTC: NUGS) are available in the company’s newsroom at http://cnw.fm/NUGS

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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