With favourable climate conditions, robust EU-GMP production, and a progressive legislative framework, it was widely viewed as Europe’s “cannabis crown”. Today, that perception is changing rapidly.
Recent developments within Infarmed, Portugal’s medicines and health products authority, have led to growing frustration among operators and investors. While Infarmed has announced digital modernisation, enhanced monitoring systems, and the adoption of UN tracking tools for imports and exports, the transition has been far from smooth. Licensing delays, increased documentation requirements, and a series of police investigations into licensed operators have created a bottleneck that many in the industry describe as “death by red tape”.
Although Portugal remains a strong exporter, particularly to Germany and other EU markets, its domestic medical cannabis access remains extremely limited, leaving companies dependent on international sales. That fragility, combined with unpredictable bureaucracy, has shaken investor confidence. The sentiment, once optimistic, is now cautious.
A Changing Map: How Europe Is Evolving
Across Europe, a very different picture is emerging. Several countries are modernising their regulatory structures, expanding patient access, and signalling to investors that medical cannabis is here to stay:
- Germany continues to lead in patient demand. Despite tightening controls on online prescribing, import quotas have already been met for 2025, and domestic cultivation is rising to meet the shortfall.
- Luxembourg maintains its medical programme for conditions such as chronic pain, multiple sclerosis, and chemotherapy-induced nausea.
- France is transitioning from its pilot phase to a full national programme, with reimbursement models now under review by the Haute Autorité de Santé (HAS).
- Italy remains one of the EU’s longest-running medical cannabis programmes, coordinated through the Military Pharmaceutical Plant in Florence and supported by imports under AIFA supervision.
- Cyprus has had a licensing framework in place since 2019, allowing for cultivation, production, and pharmacy-based dispensing.
- Czech Republic is expanding EU-GMP exports and preparing broader reform by 2026, potentially positioning itself as a major supplier to Germany.
- Denmark has made its medical cannabis pilot scheme permanent, offering long-term confidence to producers and prescribers.
- Greece has moved from licensing to production, with cultivation and processing facilities now operational.
- North Macedonia is undergoing licence reviews following reports of product diversion, which has temporarily slowed sector growth.
- Norway provides limited access through named-patient exemptions but remains cautious in its approach.
- Switzerland removed its former special-permit barrier in 2023, allowing any doctor to prescribe, and is actively trialling wider adult-use reforms.
- The United Kingdom continues to host a stable and regulated environment. Although NHS prescriptions are still rare, the private-clinic market is steadily growing, supported by consistent regulatory oversight from the Home Office and MHRA.
Investment Shifts and the UK’s Position
Industry analysts note that investment capital is beginning to look beyond Portugal. The UK, often seen as conservative in cannabis reform, is now being recognised for regulatory predictability and political stability. These are qualities that global investors increasingly value. While the UK’s patient numbers remain modest compared with Germany, its framework offers clear pathways for compliance, product authorisation, and controlled business operations.
As other European nations wrestle with bureaucratic backlogs or shifting political conditions, the UK’s measured and transparent approach has begun to look like a safe haven for cannabis and CBD investment.
What This Means for the Industry
The disruption in Portugal does not signal the end of its role in the European cannabis supply chain. Rather, it reflects the growing pains of an industry maturing under regulatory pressure. If Infarmed successfully implements its promised digital reforms, Portugal could yet regain its footing. For now, however, investors and businesses are diversifying their European strategies, seeking stability, compliance, and long-term vision.
At the CTA, we continue to monitor these developments closely, ensuring our members are equipped with the insight and strategic guidance they need to navigate this shifting European landscape.
