• January 19, 2022
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  • Expect An Influx Of Capital Into Established European Cannabis Businesses Able To Execute On Their Plans

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    Pete Patterson, Chief Executive Officer of Valcon Medical, reflects on 2021 and looks ahead to the challenges and opportunities that lie ahead in 2022

    BC: What are the main opportunities and challenges for the European cannabis industry in 2022?

    PP: WE are witnessing an overall change to the industry as our colleagues and partners are transitioning into education and revenue engines, a transition much needed for the cannabis space.

    As such, we move into 2022 with a cautiously optimistic frame-of-mind. The discussions around adult-use markets are exciting and welcomed; however, there is still lots of work to be done in the medicinal markets.

    It will be critical for organizations to prepare for the upcoming changes in legislation while continuing to provide product to the growing population of medical cannabis patients across Europe.

    The European cannabis industry still faces several challenges which must be addressed in the short term. First, shipping cannabis into and around the EU is a regulatory obstacle course that leaves very few companies standing.

    As we see more countries adopt a medical cannabis program, some level of EU harmonization with regards to cannabis definitions, quality, and delivery will have to be adopted.

    Furthermore, as the patient base matures, we will see an increased demand for a diversification of product formats beyond dry flowers and tinctures.

    Finally, the risks associated with prescribing medical cannabis still falls on the physician, which is a risk many are still unwilling to bear. These hurdles will remain for cannabis companies operating in the EU market for 2022.

    While the challenges mentioned above will add complexities to the daily operations of our EU cannabis company, 2022 does look promising.

    The EU remains relatively underserved with regards to cannabis extracts; yet, there is legislation to support further deployment. 2022 could also be a banner year with additional EU nations on-boarding a medical cannabis program.

    With the announcement of Germany’s adult-use program, the EU market should see an influx of capital to support that market development.

    This capital will most likely favour those organizations already established and positioned to execute. Overall, we anticipate continued growth in the European cannabis markets and new expansion opportunities in some of the developing markets.

    Read full interview here: https://businesscann.com/expect-an-influx-of-capital-into-established-european-cannabis-businesses-able-to-execute-on-their-plans/?mc_cid=2a01f70477&mc_eid=e2114bb512

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