This week opened with the rescheduling of cannabis from Schedule I to Schedule III under simultaneous attack in the federal courts and under negotiation in Virginia’s state budget. Prohibitionist groups are seeking a stay from the D.C. Circuit before the DEA’s substantive hearing opens on 29 June. Aurora Cannabis and Quebec’s SQDC have both posted strong annual results, and Germany has granted Europe’s first marketing authorisation for a cannabis-based prescription medicine for chronic lower back pain.
Prohibitionists File for D.C. Circuit Stay of Rescheduling Order
The National Drug and Alcohol Screening Association, Smart Approaches to Marijuana, and pharmaceutical developer MMJ International Holdings have petitioned the U.S. Court of Appeals for the D.C. Circuit to stay the Trump administration’s April order rescheduling state-licensed cannabis from Schedule I to Schedule III. Marijuana Moment confirmed the groups argue the order bypassed required scientific review and public comment. The DEA’s broader administrative hearing is set to begin on 29 June, with selected participants notified on 22 June. Opponents want the D.C. Circuit to halt proceedings before they open; rescheduling supporters maintain the legal arguments are unlikely to succeed. The latest on the federal process is at the Cannabis Rescheduling hub.
Virginia Seals Budget Deal to Launch Recreational Cannabis Sales in 2027
Virginia Governor Abigail Spanberger and the legislature’s lead sponsors have reached a compromise to include recreational cannabis retail within the state budget bill. Del. Paul Krizek declared “we have a deal” following Spanberger’s April veto of standalone legislation. Marijuana Moment reported the agreed framework sets the retail launch at 1 July 2027, permits per-transaction purchases of up to two ounces, and applies an 8% excise tax after two years. A joint press conference is planned for later this week. The House of Delegates reconvenes on 18 June and the Senate on 22 June, with the state budget requiring approval by 30 June.
Aurora Cannabis Posts Record Annual Revenue of C$321 Million
Aurora Cannabis reported fiscal 2026 annual results on 11 June, with total net revenue rising 11% to C$321 million and global medical cannabis net revenue growing 18% to C$288.6 million. Adjusted EBITDA climbed 32% to C$53.8 million, and the company closed the year with C$164.7 million in cash and no debt. Investing News noted the results reflect Aurora’s pivot away from consumer cannabis towards international medical markets, with Germany and Poland as the primary growth drivers. Aurora also completed the acquisition of Safari Flower Company in April 2026, adding a 59,000 sq ft EU-GMP certified facility. Track Aurora and other public operators on the Cannabis Stocks Tracker.
Quebec’s SQDC Reports C$810 Million in Annual Cannabis Sales
Quebec’s state cannabis retailer, the Société québécoise du cannabis (SQDC), reported total sales of C$809.5 million for fiscal 2025–26, up from C$741.5 million the previous year, according to a press release via Newswire.ca. The SQDC sold 165,169 kg of cannabis, a volume increase of 10.7%, at an average price of C$5.63 per gram, completing 20.5 million transactions across 110 stores and its website. Net income reached C$132.4 million. The introduction of vaping products in November 2025 supported volume growth, and the SQDC contributed C$331.3 million in total to the Quebec treasury in consumer and excise taxes.
Germany and Austria Approve Europe’s First Cannabis Prescription Medicine for Back Pain
Vertanical, a German biopharmaceutical company, has received marketing authorisation in Germany and Austria for Exilby (VER-01), a full-spectrum cannabis extract for chronic lower back pain with a neuropathic component. Cannabis Health News reported that two Phase 3 trials showed Exilby reduced pain more effectively than opioids with greater tolerability and no evidence of dependence. Commercial launch is planned for September 2026. Vertanical is pursuing MHRA approval in the UK, with a submission expected later this year, and the U.S. FDA has granted Breakthrough Therapy Designation. The approval establishes a pharmaceutical-grade precedent for cannabis-based medicines in European markets. For regulatory context across the continent, see the EU Cannabis Regulation hub.
Watch this week for the Virginia governor’s press conference (expected Tuesday), the DEA’s publication of June 29 hearing participants on 22 June, and Canopy Growth’s fourth-quarter fiscal 2026 results, due before trading opens today.
