Germany legalized medical cannabis in 2017, and the new chancellor, Olaf Scholz, has already pledged to legalize cannabis for recreational purposes. With more than 80 million people and one of the largest economies in Europe, this could serve as a tipping point for the European cannabis market, and eventually, the world. Many companies are positioning themselves for this inevitability, but one has the experience, an established brand, and the resources to capitalize on this catalyst: IM Cannabis.
IM Cannabis: A History
Founded in 1980 in Tel Aviv, Israel as a cutting-edge research company in the burgeoning medical cannabis industry, IM Cannabis developed their own line of products and have been able to track the long term effects of continued cannabis usage. As the industry grew, they became consultants to other regions that wanted to pursue medical legalization, but as the trend continues more towards recreational use, they continue to adapt their business model. “There is a certain amount of recreational coloration within the medical community,” IM Cannabis CEO Oren Shuster commented in an interview. By adapting their business to this growing recreational trend, they opened a second headquarters in Vancouver in 2008 to break into the Canadian market. Now IM Cannabis is doing the same in Germany prior to the legalization announcement.
Germany: A Big Step Forward
“Germany doesn’t do anything without thinking through everything first,” Shuster continues. “The primary concern right now is regulation. It is not a question of if it will happen, but when. What remains is how they will implement it.” With German medical cannabis, products are available exclusively from pharmacies. Shuster sees a possibility of that model continuing to exist, but shifting the availability to being over-the-counter instead of through prescriptions. However Germany decides to regulate their recreational cannabis market, Shuster sees it as an opportunity to spread to the rest of Europe. With one of the largest economies in Europe, it would be a monumental shift for the recreational market, but if it can serve as a launching point for the rest of Europe, it may eventually lead to a global shift for cannabis regulation. IM Cannabis is currently positioned to maximize production in all three major legalized markets: Israel, Canada, and soon to be Germany.