Medicinal Cannabis, a Major New Industry for Australia
A major new Australian industry could grow up around medicinal cannabis, with possibilities for global export opening up further down the track.
The Narcotics Drugs Amendment Act 2016 came into force last week giving the green light to cultivating and manufacturing cannabis for medicinal or scientific purposes in Australia and offering chronically ill patients some relief, where previously they were forced to source cannabis illegally, often of dubious quality.
A clutch of companies, both domestic and international, are poised to enter the Australian market and make the most of the new conditions and capitalise on the global demand for the product, which is effective against a broad range of medical conditions including chemotherapy-induced nausea, severe fitting and nerve pain.
Australian company MGC Pharmaceuticals, which already grows and manufactures medicinal cannabis overseas, has confirmed it is ready to go and Canadian company Tilray, which already cultivates and sells medicinal cannabis in...
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