Legalization Of Over-The-Counter CBD In Australia: What To Know

This article by Amy Onaca was originally published on The Green Fund, and appears here with permission.

With a clear path towards CBD product registration now in place, cannabis companies are racing to get products on the shelves as quickly as possible.

Welcome to the fourteenth episode of The Green Fund's CannaCast! The CannaCast features pre-eminent figures within the cannabis space, whether it be entrepreneurs, doctors, chefs, or CEO's of cannabis companies, we will be speaking to the people that have made waves in the cannabis industry.

In this episode, we sit down with the Managing Director of FreshLeaf Analytics, Cassandra Hunt, and the company's resident regulatory expert and former TGA official, Tony Whittaker, to discuss the government's late 2020 decision to legalize the over-the-counter sale of CBD products in Australian pharmacies.

"History suggests that the first movers among product companies will be the winners, with the first movers in the medicinal cannabis industry in Australia still dominating the industry today," FreshLeaf Analytics Managing Director Cassandra Hunt said.
"The race is now on to get products in the market as quickly and cost effectively as possible, assuming companies are able to overcome the challenge of proving efficacy."

As a result of the government's down-scheduling, pharmacies can now sell up to 150mg of CBD per day to Australian consumers without the need for a prescription, which has opened up a massive new market for ASX-listed pot stocks.

With a clear path towards CBD product registration now in place, cannabis companies are racing to get products on the shelves—as quickly and cost-effectively as possible—although they are unlikely to be available for sale until late 2021 or 2022.

"I am excited that TGA has now provided a pathway to approval of over-the-counter CBD products," FreshLeaf Analytics Regulatory Specialist Tony Whittaker said.

"This gives a great opportunity for industry to develop products that consumers can access directly after consultation with their pharmacist.  However, TGA has exacting standards, which will present a significant challenge to this young industry."

We hope you enjoy this informative episode of The CannaCast with Cassandra Hunt and Tony Whittaker!

This episode was produced by Casey Peternell, the introduction theme music was created by Reni Mathason and the CannaCast image was created by Niccole Lim. You can find the episode on our Spotify as well as on Apple Podcasts.

Read the original Article on The Green Fund.

Benzinga's Related Links: 

• Taking CBD For The First Time? Here Are Some Quick Basics
• CBD | Benzinga