Is the UK a Dark-Horse in the cannabis industry

For thousands of British patients fighting the lobbying fight for legalization and for the millions of recreational users, the prospect of this ultra conservative nation making change is somewhere off in the distant horizon.

In a country where public and political conversation is stuck, caught in the dual headlights of ‘Skunk’ and ‘Synthetic Cannabis’ the future of regulatory reform would seem to anyone, a far-flung dream unlikely to become reality.

In this article, we’ll take you through 5 reasons we believe the UK has not just been overlooked, but could be the dark horse that dominates parts of the industry.

1. Pharmaceutical

Founded in the UK in 2008, GWPharma is one of the oldest and companies in the industry.  Whilst not mainstream, the British pharmaceutical industry together with the London financial markets have validated cannabis businesses.

2. Health & Wellness

In a recent report by Frost & Sullivan entitled “Global Neutraceutical Industry: Investing in Healthy Living” they concluded about the UK: The UK has emerged as a key test market for nutraceuticals, resulting in a high frequency of product launches.  In a country with no medical cannabis program in sight, CBD is emerging from this food supplement sector.

3. Israel

It’s the start-up nation, and the historic homeland of medical cannabis research.   Trade relationships between these two countries are strong, specifically when focused on health. This is the mission of CIITECH is to bring sophisticated CBD products to the UK based on our proprietary cannabis research conducted in Israel.

4. BREXIT

We’re all sick of it, but we have another 18 months until it happens, and then depending on ‘The Deal’ a bunch more either lamenting or celebrating. One thing is for sure, a Tory managed BREXIT will result in strong independent Britain as a global trading partner.

5. Regulation

The heart of the matter, the issue that without resolution none else matter.    The UK legal position has been clear for many years, cannabis is a dangerous psychoactive narcotic that must be scheduled, controlled and kept off the streets and away from the weak and the meek. Whilst not untrue, this is but one layer of the complex story as CBD is being considered as a food / dietary supplement.

In the UK, the government and health ministry have made recent moves to protect themselves from dealing with the medical cannabis issue.  In 2016 the home office confirmed CBD and 81 other cannabis chemicals as non-psychoactive and therefore legal.  The ministry of health subsequently admitted the potential health benefits of CBD and proposed it be regulated as a dietary supplement.

Is the UK a dark horse that as the market matures finds itself quietly creeping up on the pace setters? In a normal world the answer is simple, in 2017 who knows?

—

DISCLAIMER: The Author is Founder and CEO of CIITECH, a UK based BioTech company engaged in Clinical Trials in Israel and a pipeline of dietary supplement products containing essential cannabinoids.