A bill was introduced in the Australian parliament on Wednesday that will allow the legal cultivation of marijuana for medical or scientific purposes.
|The bill is designed to create a national licensing and permit regime that will eventually allow doctors to prescribe marijuana to patients with chronic pain on clinical trials. There are already several Australian states that have committed to cultivation of marijuana for medical and research purposes but they cannot do so because of federal laws that prohibit growing of the plant. As a result, manufacturers, researchers, and patients in these states on clinical trials must use international supplies of legal medicinal marijuana, often at considerable expense.|
"The market for medicinal cannabis in Australia is substantial. The number of patients that could be targeted could be people with epilepsy, Multiple sclerosis, while there is the other spectrum of people with chronic pain."The company was the first listed medicinal medicinal marijuana company. Its initial public offering last year was three times oversubscribed. The main opposition party in Australia also has pledged support for the bill and so it is almost bound to become law. A survey by the Australian government in 2013 found 69 percent of those responding supported a change in the law to allow use of marijuana for medicinal purposes.