Little Green Pharma (ASX:LGP) welcomed the French government's notification to the European Commission of the production and market authorization framework for medicinal cannabis, which establishes the pathway for full market legalization, according to a Wednesday Australian bourse filing.

It noted that the firm will continue to be one of the only two authorized companies supplying products at full price during the transition period to March 31, 2026, under the new framework.

All medicinal cannabis products will now require a common technical document submission for market authorization. The firm anticipates that the number of firms entering the French market will be limited, given the strict data requirements.

Its shares fell 4% on market close.