Australia allows CBD oil to be sold over the counter in pharmacies

Since this morning, Australians have been able to go to their local pharmacy to buy oil. CBD. The Therapeutic Goods Administration (TGA), the drug approval agency, had given the green light in December. It's now possible to buy low-cannabidiol (CBD) oil, for use up to 150 milligrams a day. The whole deal, without needing a prescription.

Even if the law allows it, we'll have to wait another six months for it to become a reality. For the time being, no oil is authorized. For the product to receive a green light, it must be on the’Australian Register of Therapeutic Goods, list of medicines authorized on the island-continent. Also, to be approved, the oil must prove its high quality, non-hazardousness and efficacy.

The producers of medical cannabis are entering a race. First come, first served. « History shows that the first movers among cannabis producers will be the winners. The first to enter the medical cannabis market in Australia still dominate that market today.», notes Cassandra Hunt, the producer's CEO. FreshLeafs in everyday life Sydney Morning Herald.

A $200 million market

These companies work «at the speed of light», smiles the former Pharmacy Guild of Australia, a body representing pharmacy owners. Their objective: capture a market which brings in more than 200 million Australian dollars (€130 million) every year.

And to have a chance of getting that cash, you'll first have to invest. Cannabis Doctors Australia, an association of pro-cannabis doctors, puts the figure at «Two million Australian dollars, plus adequate data, [the cost] for a CBD oil to be approved for sale in pharmacies.»

In addition to a heavy investment, it will also have to withstand some criticism. L’Australian Medical Association, a union representing 30 % of the country's doctors, is opposed to CBD oil being sold over the counter in pharmacies. The island-continent has authorized therapeutic cannabis since 2016. For recreational use, this is only possible than in the Canberra capital region.