German Cannabis Producer Demecan Can Grow Unlimited Amounts Of Marijuana, Sees Strong Revenue Growth
Under the new cannabis law, the only independent German company permitted to cultivate medical cannabis in the country so far is Demecan, which obtained the right to grow unlimited amounts. Demecan can increase its production capacity by an annual yield of two tons and fully utilize its production facilities in Ebersbach, writes DieSachsen.De.
Partial cannabis legalization took effect in Germany on April 1, allowing adults over 18 to possess up to 25 grams of dried cannabis and cultivate up to three plants at home.
Canadian marijuana giant, Tilray Brands (NASDAQ:TLRY) also confirmed last week that its German cannabis cultivation facility, Aphria RX GmbH, has obtained the first new cannabis cultivation license issued in Germany. Another publicly traded Canadian company, Aurora Cannabis (NASDAQ:ACB), is the third to obtain the same license.
In 2019, these three companies won a tender from the Federal Institute for Drugs and Medical Devices (BfArM), under which …