Cannabis Reform

Cannabis sector in Australia is currently under reform

In October 2019 the final report, reviewing Australia’s medical cannabis framework was presented to Parliament.

Seeking to simplify the program in Australia, 26 recommendations were submitted, including simplification of the license in resume for cultivation and production and manufacture of medical cannabis. The report sought to remove constraints on the use of medical cannabis products. It suggested that the operation of the license be moved away from the Office of Drug Control and into a sector, which had more of a commercial focus.  The report also called for greater clarity and certainty for the industry specifically in the Office of Drug Control regulatory approach.

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The Minister for Health accepted all 26 recommendations and it is anticipated that with less rigidity and greater flexibility in the supply channels additional cannabis products will be more readily available through legal channels.

Key points in the report include that as at 30th of June 2019 the Office of Drug Control had granted 63 licenses and received 246 applications. The number of applications received is significantly higher than was forecast in 2016 and thus created delays. This backlog created by over three times the anticipated number of applications has put significant pressure on the Office of Drug Control. 

Another key finding is the complexity regarding the current system whereby required to apply for different licenses depending on activities this is created confusion as many of the activities overlap. Currently the licenses are for cultivation and production manufacture and research into medical cannabis products and this creates ambiguity, as the definition of manufacture is unclear.

The high level of security and evasive risk create significant limitations to the industry and created counter productivity.

The recommendations were to establish a single license resume, remove permitted use restrictions, move away from the conservative risk minimization focus of the office of drug control. Read More 

https://www.lexology.com/library/detail.aspx?g=882d871e-a45c-4ce3-8dcc-cb170abd20ff




CBD Surge in Baby Boomer Market 

Forbes magazine wrote in September 2019 that the huge surge in the CBD market is coming from the baby boomers who are not going to get old.

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This generation is seeking healing with alternative plant-based medicines like cannabis and are beginning to appreciate the plants therapeutic powers.

Many older people find that sleep and anxiety become problematic and that cannabis based products can assist and improve mood and even go as far as enhancing sexual fulfillment. It is well known that chronic pain is the affliction that significantly affects older adults and many suffer from sympathetic problems associated with synthetic pain management treatment. 

The great benefit with cannabis is that it does not carry those risks and plant based medicines are generally considered safe and free from abuse or addiction. There are many compounds contained in the plant that are not psychoactive and do not have any toxic effects. Read More 

https://www.forbes.com/sites/abbierosner/2019/09/30/cannabis-cbd-and-a-better-way-to-age/#34908e391dba
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