Australia

The Australian Medical Association says that while it supports certain cannabis decriminalization policies, it is opposing a bill to legalize adult-use cannabis due to the potential for increased “health and social-related harms.”

Hemp Black, a subsidiary of Australia-based Ecofibre, today signed a $9 million annual supply deal with Under Armour Inc. Under the deal, Hemp Black will provide specialty yarn made from its trademarked eco⁶ hemp biochar.

Doctors in Australia can now prescribe psychedelics including MDMA and psilocybin as a treatment for PTSD and depression. The changes took effect on July 1.

Creso Pharma has agreed to fully acquire Australia-based Health House International, which works in the international distribution of medical cannabis products and is licensed to store and trade controlled substances including psilocybin and MDMA.

A recent study found that 37% of medical cannabis patients in Australia have a legal prescription for the plant, up from just 2.5% in 2018.

Australia’s Therapeutic Goods Administration announced the legalization of medical psilocybin and MDMA for depression and PTSD, respectively, starting July 1.

In less than a decade, the cannabis industry has gone from seeing a worldwide blanket prohibition of the plant to today, where new and exciting cannabis opportunities can be found across the globe.

Australian regulators issued 73 citations totaling nearly AUD$1 million to medical cannabis companies that claimed their products could treat serious medical conditions.

For the first time in Australia, cannabis use has garnered more support than tobacco use, as reported by a recent National Drug Strategy Household Survey by the Australian Institute of Health.

The recent National Drug Strategy Household Survey in Australia found that 41.1% of respondents believe cannabis should be legalized.

Cannabis use in Australia spiked during the coronavirus pandemic while the use of alcohol and methamphetamine has dropped, according to new research.

Researchers at the University of Sydney’s Lambert Initiative for Cannabinoid Therapeutics found via a meta-analysis of 80 separate studies that cannabis impairment lasts on average somewhere between 3 and 10 hours.

The Faculty of Pain Medicine at the Australian and New Zealand College of Anesthetists is telling physicians not to recommend medical cannabis for chronic pain due to a lack of evidence.

Cann Group Limited in Australia said last week it lost $3.6 million when payments meant for an overseas contractor were, “received by an unknown third party as a result of a complex and sophisticated cyber fraud.”

The Australian biotech company Neurotech International Ltd. announced it has completed studies using human brain cells to investigate the anti-inflammatory and neuro-modulatory properties of two proprietary cannabis strains.

Australian researchers found a 14-25 percent reduction in chemotherapy side effects in patients who received cannabis capsules during a recent study.

Australia’s National Drug Strategy Household Survey found that just 3.9 percent of Australians who used medical cannabis last year obtained it legally via a prescription.

Cann Group in Victoria, Australia has secured a government-funded jobs grant for $1.97 million to upgrade its cultivation/production facility, which could generate 150 local jobs.

FSD Pharma has received FDA permission to design and submit an application for a new trial using a synthetic cannabinoid-based drug in the treatment of COVID-19.

Australian researchers have uncovered evidence that a cannabis-based treatment could be effective against chronic insomnia.

A new financial analysis suggests that the Oceanic cannabis market including New Zealand, Australia, Guam, and surrounding islands could be worth $1.55 billion by 2024.