Cronos Group Inc (TSE: CRON) (NASDAQ: CRON) (FRA: 7CI) has expanded its international medical cannabis distribution network with the addition of Switzerland.
This week, the Canadian company revealed a new sales partnership with the local pharmaceutical operator Dascoli Pharma AG.
Cronos will be providing the Swiss medical pot distributor with five varieties of PEACE NATURALS-branded flower. These cultivars — including GMO Cookies, Space Cake and Sonic Lemon Fuel — are also sold in Canada, Israel, Germany and the United Kingdom.
“Expanding our presence in Europe is an important area of focus for Cronos’ growth,” said chief executive, Mike Gorenstein, in a press release, “and through this collaboration, we will leverage Dascoli’s strong local presence to better serve the needs of patients.”
Medical cannabis has been legal in Switzerland since 2022 and the market has been slowly but steadily expanding.
It primarily gets prescribed for the treatment of multiple sclerosis, epilepsy and other neurological diseases. Also, to help alleviate side effects of chemotherapy in cancer patients.
Approximately 3,500 citizens with serious health conditions have access to medical cannabinoid products through local pharmacy networks.
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Currently, the European nation is considering opening an adult-use market. A parliamentary commission voted in favour of a bill that would legalize recreational marijuana in February and it is now in the government consultation phase.
This next step is expected to conclude by the end of the year.
Additionally, a series of small-scale pilot trials with adult-use weed have been ongoing since 2021 in cities like Zurich, Basel and Geneva. They aim to assess the health and social impact broader legalization would have on the nation while evaluating regulatory models and informing policy decisions. There are seven ongoing studies with about 7,500 participants.
Possession of up to 10 grams for personal use has been decriminalized in the country since late 2013.
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