Investments in medical cannabis are “unlocked”

It is expected that the implementation of investments by companies that have received permission to approve the installation of plants for the production of medicinal cannabis will be “unlocked” by a bill from the Ministry of Development and Investment, which has been submitted to Parliament for a vote.

This is because this law permits the production of medical cannabis products intended for export, even if they have not received a marketing authorization in Greece. The basic condition, of course, is the availability of an appropriate permit in the country of destination.

It is noted that, according to the latest available data from the General Secretariat of Industry, 94 permits have been issued to date for the establishment of farms and medical cannabis processing plants, but in reality only one plant has been built and is ready for commissioning in the near future. This is the Tikun Europe division in Examilia, Corinth. It is worth noting that according to a study carried out by the authorities and included in the analysis of the consequences of this bill, the impact of the cannabis industry on the Greek economy is estimated to range from about 60 million euros in the first year to 1.2 billion euros after twelve years.

The main points of the draft law of the Ministry of Development are as follows:

– From now on, in two stages, instead of the current one, the general activities of the divisions for the processing and production of finished cannabis drugs will be approved. The first stage is installation, the second is operation.

– A new installation permit and a change in the operating permit is required for any change in the operation of the processing facilities.

The Φ (National Organization of Pharmacologists) shall, by way of derogation from any provision to the contrary, approve and authorize the manufacture of finished cannabis medicinal products containing Cannabis Sativa L with a THC content of more than 0.2%, regardless of form, intended exclusively for export to medical and pharmaceutical goals. The issuance of a license to manufacture products exclusively for export requires, inter alia, the submission of a license or other document by the competent authorities of the country of destination, a description of the product, while ΕΟΦ requires a license to be provided within 90 days of the submission of the complete dossier. Interested companies will pay a contribution to ΕΟΦ of € 2,500 plus € 400 for form and content.

– It is allowed to manufacture finished products from medical hemp in the form of packaging from dried flowers up to 30 gr. for the sole purpose of exporting them for medical purposes only, regardless of whether they are intended for use as an end or intermediate product or raw material for medical and pharmaceutical purposes in the importing country. A production license solely for the export of finished cannabis medicinal products in the form of dried flowers is issued if the enterprise has simultaneously applied for a special approval of the final product in Greece in a form other than that of the dried flowers. In fact, the manufacturing divisions have stricter conditions when they also produce products in the form of dried flowers. In particular, additional internal fencing will be required to protect the perimeter of the installation,

Cannabis Sativa L cannabis propagation material with more than 0.2% THC may be conditionally exported.

– From now on, it is prohibited to establish activities for the cultivation and production of finished cannabis drugs in areas of high productivity.

Approval decisions made prior to the entry into force of the new institutional structure remain in effect.

The permits issued for regional units are as follows: Central Greece 24-15 of them must be in Viotia prefecture, Central Macedonia 20-12 of them in Kilkis prefecture, Thessaly 17, Western Greece 10, Peloponnese 10, Crete 4, 2 each in the regions Attica, Epirus, West Macedonia, East Macedonia-Thrace and 1 in the South Aegean region, in particular on the island of Paros.

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