The proposed bill is moving categorically in the right direction as stated by Mr. Konstantinos Vamvakas CEO of VK PREMIUM Business Consultants .
In the draft law of the Ministry of Development and Investment:
- the safe and smooth production and distribution of finished cannabis medicinal products is ensured, under the control of AEO;
- remove potential obstacles and difficulties in order to facilitate the export of these products , significantly strengthening the domestic economy;
With regard to the export process in particular, medical cannabis products will now be available in the importing country based on a decision of the competent authority in each country, without the need for its marketing authorization in Greece.
Regarding the sale of products in the form of dried flowers, the bill stipulates that the production of finished products in packages up to thirty (30) grams will be allowed , which enhances their export for exclusive use for medical and pharmaceutical purposes, regardless of how will be used in their exporting country (as a final or intermediate product or raw material).
In the same context, the safe and unobstructed disposal of finished cannabis medicinal products to meet prescription needs is also guaranteed, under the control of the AEO.
At the same time, the investments of Pharmaceutical cannabis are included in the incentives of the aid of the Development Law and can be financed either through a subsidy or through tax exemptions or a combination of them. The aid rate (subsidy or tax exemption) can reach up to 55% of the investment.
Pharmaceutical Cannabis exports and investments are boosted by the new draft law.
The main changes / amendments proposed in the draft law entitled "Production, export and distribution of finished cannabis medicinal products of the species Cannabis Sativa L with a tetrahydrocannabinol (THC) content of more than 0.2%" are the following:
1. The restriction on the sale of products through the state monopoly is abolished and the final product can now be sold on the Greek market through their direct distribution to pharmacies, drugstores, clinics, private clinics , public hospitals, which is under the control of the National Agency Drugs (EOF) for medical purposes
2. The approval of the Committee on Drugs is no longer required for the approval of the production and distribution of medicinal cannabis products, which significantly speeds up the decision-making time.
3. It is allowed to install power generation stations (photovoltaic, wind or cogeneration) inside the medical cannabis facilities to meet the needs of the unit.
4. Cannabis sativa L cannabis propagating material with a THC content exceeding 0,2% may be exported
5. The export of finished products of medical cannabis over 0.2% in THC is allowed from the Piraeus customs, the free zone of Thessaloniki and any competent export authority.
6. EOF is the only competent body for the approval of the production license of final pharmaceutical products. cannabis regardless of whether the products are intended for the Greek market or exports.
7. Products may be exported regardless of whether in the importing country they are intended to be used as a final or intermediate product or raw material for medical and pharmaceutical purposes and regardless of their therapeutic indications.
8. For products intended for export, the issuance of marketing authorization by AEO is not required. This greatly simplifies the process of licensing and commissioning of the unit.
9. The Production License exclusively for export is issued by the AEO within an exclusive period of ninety (90) days from the submission of the complete file.
10. The packaging of finished medical cannabis products in the form of dried flowers up to thirty (30) grams is permitted , for the purpose of export for medical and pharmaceutical purposes regardless of whether in the exporting country they are intended to be used as final or intermediate product or raw material for medical and pharmaceutical purposes
11. The medicinal cannabis unit should maintain production capacity for at least two forms of pharmaceutical products. hemp, one of which corresponds to the form of the dried flower and the other does not constitute a dry flower nor does it have the dried flower as its content.
The passage of the bill will boost the domestic growth and export activity of companies in other countries, which will now be able to have dried flower products and ready-made cannabis medicines, effectively laying a solid foundation for the development of a strong industry, in a dynamically growing industry worldwide.
Source: vkpremium.gr