Australia allocates €315,000 to set up local production of medical cannabis

The Australian government has decided to allocate 315,000€ to the University of Melbourne to help it launch a local production line for medical cannabis. Once domestic production begins, researchers will need to focus on mastering the extraction of cannabinoids.

Australia Takes the Plunge

Malcolm Turnbull's government argues that this research, costing 500,000$ Australian dollars, could boost the local medical cannabis industry. According to the Herald Sun, the demand for medical cannabis is estimated at 8,000 kg of weed and is worth $150 million a year.

Education Minister Simon Birmingham says that entrepreneurs and researchers must work together to »find solutions to the problems facing Australia.»  »We support this project because we can see the clear benefits of having a local production and supply chain for medical cannabis for the many patients who could benefit from these products.»

Tony Bacic, a professor who will be part of the University of Melbourne’s research team, states that »Australia has the potential to become a major player in the growing cannabis industry.» The researchers will also attempt to develop strains suited to the Australian environment and legal framework. They will partner with a laboratory specializing in medicinal plant research. Under The Three Biopharmaceuticals. According to Tony Bacic, the primary goal is to extract cannabinoids without psychoactive effects—most likely in the form of CBD oil.

First harvests and first applications

The first crop was grown and «harvested» in Australia this year. It is expected to be available by June and will be used to treat children with epilepsy. Since Australian companies are unable to submit the request Currently, patients with epilepsy are being treated with Tilray medical cannabis from Canada.

Recently, wealthy patrons had donated 24 million euros at the University of Sydney to advance knowledge of cannabis and its therapeutic uses.

Théo Caillart