On Thursday, Thailand's Ministry of Public Health announced that three types of cannabis oil have been deemed essential medicine, reported Thaiger.
The addition of cannabis oil to the country's National List of Essential Medicines, or NLEM, allows doctors from 893 government hospitals to freely prescribe cannabis extract oil to patients in selected circumstances. It would also make the medicine more accessible in Thailand, with the government covering costs if it's prescribed in a state-owned hospital.
The oil will be used to help cancer patients who suffer side effects from chemotherapy, including nausea and vomiting, as well as to ease the pain of terminally-ill patients.
Currently, there are 1,173 marijuana clinics nationwide, according to Anutin Charnvirakul, the Minister of Public Health.
"It is gratifying that all three formulations of medical cannabis extract oils have been included in the NLEM," said Charnvirakul, who recently revealed his plans to give away a million marijuana plants. "On May 14, this will not only provide patients with more healthcare options but will help to strengthen the nation's medicine. It also reduces the cost of importing expensive drugs from abroad."
Types Of Cannabis Oil
The first type of marijuana oil features a higher percentage of tetrahydrocannabinol (THC), while the second solution contains a higher rate of CBD or cannabidiol.
The third type of cannabis oil has a balanced ratio of THC and CBD, according to Dr. Nathakan Suwanpiddokul, a pharmacist for the GPO.
Thailand's Legalization Efforts
Thailand became the first Southeast Asian country to legalize medical cannabis in 2018. This January, it became the first in Asia to allow marijuana. The new regulation, which officially takes effect on June 9th, allows residents to cultivate cannabis for personal use.
Under the law, registered businesses are permitted to sell cannabis products with less than 0.2% THC.
Minister Charnvirakul recently said that under the new regulation individuals can operate marijuana-related companies. He highlighted the advantages of commercial cannabis cultivation.
"This will enable people and the government to generate more than 10 billion baht ($289.46 million) [per year] in revenue from marijuana and hemp," Charnvirakul said. "Meanwhile, people can showcase their cannabis and hemp-related products and wisdom and sell their products nationwide."
Photo: Courtesy of CRYSTALWEED cannabis on Unsplash
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Cannabis is evolving – don’t get left behind!
Curious about what’s next for the industry and how to leverage California’s unique market?
Join top executives, policymakers, and investors at the Benzinga Cannabis Market Spotlight in Anaheim, CA, at the House of Blues on November 12. Dive deep into the latest strategies, investment trends, and brand insights that are shaping the future of cannabis!
Get your tickets now to secure your spot and avoid last-minute price hikes.