On June 21, the Spanish parliament approved the use of medical cannabis for its citizens. The law only awaits the stamp of Spain’s Ministry of Health, which has already signaled it would accept parliament’s decision.The law gives permission to physicians to prescribe medical cannabis for pain of oncological or non-oncological nature, gastrointestinal and for diseases such as multiple sclerosis and epilepsy.
The cannabis treatments must be for a defined period of time and the details of patients who are prescribed the drug must be entered on a register. Initial dispensing of curatives would be only from hospitals or health center pharmacies. Patients have access to cannabis-based extracts, oils and magistral preparations. The bill doesn’t allow the use of medical cannabis flowers, and prescriptions of cannabis-based drugs are limited to treating only three medical conditions. The bill also strengthens the role of the Spanish Agency of Medicines and Medical Devices (“AEMPS”), which will be in charge of regulating cannabis drugs and preparations, and create a database about medical cannabis patients.
First-in opportunity
Spain currently lacks a medical cannabis program at the national level, and the new law is a cautious step forward for the liberation of medical cannabis. But it also signals the country could soon join the growing European cannabis wellness market. Another welcoming sign came this week as Curaleaf International, Europe’s largest vertically integrated cannabis company, received approval from AEMPS to begin operating out of its newly built extract manufacturing site and microbiological testing laboratory in Alicante, Spain.
The logo of Wakefield, MA Curaleaf, currently following expansion across Europe. PHOTO COURTESY CURALEAF
The new lab significantly increases Curaleaf’s ability as a supplier to the growing European wellness market. While the facility will first focus on export to Europe, Spain’s legitimizing of cannabis therapy this week and the growth of patient and professional acceptance, should make Alicante facility is a solid opportunity for the Wakefield, Massachusetts-based company to enter Spain’s domestic market
Antonio Costanzo, CEO of Curaleaf International, said: “This increased manufacturing capacity approved by the Spanish authorities allows the Group to increase supply to satisfy European patients’ demand; the news that Spain has now given the green light for the implementation of a domestic medical cannabis program is further evidence that the medical cannabis market in Europe is continuing to grow. Spain is one of the largest countries and markets in Europe and we expect the prescribing of medical cannabis to be widely adopted by doctors and welcomed by patients. With our enhanced local manufacturing capabilities, Curaleaf International is ideally placed to become a leader in the domestic market.”
Betting on future grown
The approval of the Spanish lab marks yet another milestone for the multi-national operator, following the recent registrations by Curaleaf of some of its products in Malta and Italy. The company has a presence in the UK, Germany, France, Italy, Switzerland, Spain, Portugal, Poland and the Czech Republic. Sales of extracts in Europe are projected by the European Cannabis Report to reach €2.3 billion (US$2.4B) by 2026.
Matt Darin, CEO of Curaleaf, added, “There is significant momentum in Europe and with the most licences of any cannabis company in Europe, Curaleaf International is well placed to capitalize on this growing momentum. With Spain moving towards full implementation and France expected to complete the opening of its market in spring 2023, all 5 major European economies will have a medical cannabis program in place. We couldn’t be more excited about the future in this market.”