Australian medicinal cannabis company AusCann has welcomed the passing of the Narcotic Drugs Amendment Bill 2016 by the Commonwealth Parliament.
“We believe Australian patients have the right to access high quality, clinically tested and cost effective cannabinoid medicines,’’ says AusCann managing director Elaine Darby.
The passing of this legislation will enable the establishment of a strict regulatory regime that will enable the production of many effective Australian medicines, the company says.
“We commend the Australian Government for taking this action.
“It is terrific that the stigma around medicinal cannabinoid products has been lifted and genuine patients will now have access to high quality cannabis medicines.”
Darby says the legislation will enhance Australia’s record as a centre of medical innovation and initiate Australian research and development of cannabinoid medications in a range of diseases.
“We look forward to establishing the Australian medical community’s trust in these cannabinoid medicines by providing products which have strong evidence of clinical effectiveness,” she says.
AusCann Group Holdings Ltd is set to list on the Australian Securities Exchange after a successful $3 million capital raising.