Australia

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.

Major cannabis reforms in the Australian Capital Territory have taken effect, despite opposition from the federal government and a United Nations warning that the reforms violate international drug treaties.

Benjamin Jesse is the founder of the Australian Cannabis Industry Awards, an event that celebrates Australia’s cannabis industry and highlights successful leaders in the space.

Creso Pharma Ltd (ASX: CPH) has established itself as an early mover within the medicinal cannabis sector, as the global cannabis market is expected to reach US$272 billion within the decade.

UN officials have sent a letter warning Australia’s federal government that the cannabis legalization language recently adopted in the Australian Capital Territory breaches at least three international drug conventions signed by the nation.

Recent cannabis reforms legalizing possession and home cultivation in the Australia Capital Territory will have “no effect” because it does not address differences in federal law, says Australian Attorney-General Christian Porter.

Australia’s federal government is investing AU$3 million into researching the potential pain and side effect management options for cancer patients.

In light of the Australian Capital Territory’s recent legalization reforms, the country’s Health Minister confirmed that federal officials have “no plans” to fight the new legislation.