Welcome back to the end of the week wrap up where we compile and share the latest cannabis news and education.
As usual, it's been a productive and challenging week as we learn to navigate through the system so we'll get straight into it!
Here are some of the top articles we discovered this week on everything cannabis:
- Study suggests that medical cannabis legalisation was associated with a lower rate of opioid dispensing and pain-related hospital admissions among some adults receiving treatment for cancer.
- The cross-sectional study examined over 38,000 privately insured patients aged 18 -64 years with a new diagnosis of breast, colorectal, or lung cancer between 2012- 2017, who received cancer treatment during the first six months after diagnosis.
- The results showed that medical cannabis legalisation was associated with a 5.5% to 19.2% relative reduction in the rate of opioid dispensing.
- Those behind the study suggested that cannabis may be carefully considered as an alternative to the pain relief medicines that are usually prescribed to cancer patients.
Key Takeaway: There have been consistent findings and studies suggesting medical cannabis can act as a substitute for opioids in managing cancer pain. The more studies and data we conduct, the sooner patients can receive better alternative treatment methods.
- The investment scam was in fact a minor part of a multi-billion-euro money laundering scheme.
- There are 20,000 pages of evidence from which they have been gleaned will soon be made public, as Lars Olofsson, the Swedish lawyer spearheading a class action lawsuit against the company, prepares to file his case in court.
- Throughout his months of research, scouring through the documents provided by hundreds of investors he is now representing, Mr Olofsson says he has only been able to identify the existence of around 125,000 Juicy Fields accounts.?
Key Takeaway: If it’s too good to be true, it’s too good to be true. Always do your due diligence and trust your intuition. We’ve had experience speaking to individuals at Juicy Fields and it never felt right upon our initial conversations.?
- For products not registered on the Australian Register of Therapeutic Goods (ARTG), medicinal cannabis can be accessed via one of the unapproved medicines pathways: Special Access Scheme, Authorised Prescriber or Clinical Trial
- Unapproved medicinal cannabis products imported into and supplied/manufactured in Australia must conform with TGO 93 - a standard that specifies minimum quality requirements for medicinal cannabis products.
- Responsibility for products conforming with TGO 93 rests with the sponsor. It is an offence under the Therapeutic Goods Act 1989, to import, export, or supply therapeutic goods that do not conform to an applicable standard.
Key Takeaway: When it comes to cannabis, marijuana, or weed, depending on where we’re located, it’s easy to think it’s a free market. It’s not. If we want to play in this game, we must learn and study the regulations and systems of our respective country.?
- Medicinal cannabis is becoming more affordable in Australia, despite it not being subsidised by the Commonwealth Government through the Pharmaceutical Benefits Scheme (PBS).
- Being the world’s second-largest medical cannabis market, Australia has largely imported cannabis products (around 90 per cent) from overseas.
- With domestic cultivation on the rise, imports are expected to be pushed to the side, making way for a 50/50 split between imported and locally-grown or manufactured products.
Key Takeaway: Production, cultivation and import of locally-grown cannabis in Australia creates an equitable and affordable market for individuals who benefit from cannabis the most - Australian patients.
- The global cannabis industry’s stocks have performed far worse than the general markets throughout 2022, with nearly US$30bn wiped off the value of the world’s largest 20 cannabis companies.?
- The residual fallout from the pandemic and ongoing war in Ukraine have dragged global stock market prices down 25% this year.?
- The decline ‘should not be viewed strictly as a bad omen’, pointing out that volumes were still far higher than in 2020 and that an increasing number of players continued to make investments across Europe.
Key Takeaway: Reading this article reminds us of a comment a client shared with us several months ago - “Don’t go public until you’re certain you are ready. There are a lot of operating costs involved that can impact the bottom line”.
That concludes our weekly wrap up.
The end of the year is upon us, so do what you need to do to wrap up and finish the quarter strong.
Let us know what you think!
Disclaimer: All articles shared are credited to its rightful owners. Information shared on this page is for educational purposes only. We are not here to promote the use of cannabis. If you do intend to consume cannabis, we advise you to speak to your local general practitioner for more information and guidance.
