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Health Weed Week: Australian medical cannabis prescriptions are soaring

00:15  09 april  2021
00:15  09 april  2021 Source:   stockhead.com.au

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The number of medical cannabis prescriptions issued under Australia’s special access scheme just keeps on growing.

a hand holding a fork and knife on a cutting board: Australian medical cannabis prescriptions © Stockhead Australia Australian medical cannabis prescriptions

There were a record 9,959 SAS Category B marijuana prescriptions issued in March, two and a half times the number from a year ago, Australia’s Therapeutic Goods Administration disclosed this week.

February’s 8,057 approvals were the previous record. There had been an average of 5,000 prescriptions issued in the previous 12 months.

chart, bar chart: Source: TGA © Provided by Stockhead Source: TGA

Since the medical marijuana access scheme was implemented in 2016 there have now been over 100,000 prescriptions issued to an unknown number of patients. (The TGA says it receives de-identified applications and can’t match them to individual patients.)

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These figures don’t even include prescriptions written by “authorised prescribers” who often prescribe a high volume of cannabis and don’t have to seek TGA approval for each individual script.

As of the end of February, there were 215 “authorised prescribers”, up from 179 at the start of the year and just 29 in December 2019.

Under the TGA’s rules patients can access marijuana to treat cancer and non-cancer pain; anorexia and wasting associated with chronic illness; chemotherapy-induced nauseua; and other conditions.

Elsewhere this week, in North America, a legalisation bill advanced in the US state of Connecticut as well as in Mexico.

Meanwhile, of the 36 companies in the ASX cannabis sector, 15 gained ground over the past week and 11 lost it.

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The biggest gainer was Eve Investments, up 16.7 per cent to 0.7c on no news.

MGC Pharmaceuticals (ASX:MXC) has been the best performer year-to-date, up 180 per cent to 7c.

Code Name Price %Wk YTD % return 6 month % Ret Market Cap
APH AP Hemp 41 -4.7 7 141.2 $32,049,307
AGH Althea Group 51 5.2 7.5 8.5 $131,186,770
AC8 Auscann Grp Hlgs 13.5 -3.6 -6 -6.7 $61,676,595
BDA Bod Australia 52.5 11.7 3.5 34.2 $52,382,840
BOT Botanix Pharma 9.3 -5.1 -3.2 -6.0 $90,502,213
CGB Cann Global 0.8 0.0 0.1 100.0 $41,114,042
CAN Cann Group 55 1.9 -4 32.5 $152,814,450
CPH Creso Pharma 20.5 2.5 2.5 528.8 $214,893,089
CAU Cronos Australia 12 0.0 -1 50.0 $6,807,500
DTZ Dotz Nano 36.5 7.4 12.5 23.7 $139,261,480
ECS ECS Botanics Holding 5.1 4.1 1.2 117.4 $29,507,665
EVE EVE Investments 0.7 16.7 -0.2 -40.0 $23,058,851
EOF Ecofibre 119 -0.8 -71.5 -50.4 $400,456,436
EXL Elixinol Global 18.5 2.8 1 19.4 $58,216,430
EN1 Engage:Bdr 0.6 0.0 0 9.1 $14,691,429
EPN Epsilon Healthcare 21.5 7.5 -2 -8.5 $39,995,959
ESE Esense-Lab 1.8 0.0 0 0.0 $9,180,684
IDT IDT Australia 36.5 -18.0 18 128.1 $100,900,659
IHL Incannex Healthcare 21.5 4.9 6.5 144.2 $227,575,256
LSH Lifespot Health 10.5 -8.7 2.8 112.1 $15,667,427
LGP Little Green Pharma 72.5 3.6 16 151.7 $95,932,737
LV1 Live Verdure 25 -3.8 6 $10,607,222
MMJ MMJ Group Hlds 11 -4.3 -1.5 27.8 $25,294,938
MDC Medlab Clinical 26.5 10.4 2.5 36.8 $82,013,915
MXC Mgc Pharmaceuticals 7 12.9 4.5 191.7 $155,003,662
MRG Murray River Grp 24.5 -7.5 -30.5 -57.4 $11,028,786
NTI Neurotech Intl 7.6 0.0 3.1 442.9 $47,934,074
PAL Palla Pharma 48.5 -2.0 -28.5 -30.1 $80,147,016
RNO Rhinomed 12.5 0.0 -3.5 -26.5 $30,457,096
ROO Roots Sustainable 1.9 0.0 -0.2 -20.8 $10,255,895
RGI Roto-Gro Intl 4.9 -9.3 -1.4 8.9 $12,571,092
SCU Stemcell United 2.2 0.0 0.3 100.0 $18,487,054
SUD Suda Pharmaceuticals 4.6 0.0 0.6 12.5 $16,540,208
WOA Wide Open Agricultur 72.5 4.3 -16.5 -27.6 $65,806,600
YPB YPB Group 0.35 0.0 0.15 -12.5 $14,975,462
ZLD Zelira Therapeutics 6.1 1.7 -3.1 -12.9 $72,609,701

The post Weed Week: Australian medical cannabis prescriptions are soaring appeared first on Stockhead.

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usr: 2
This is interesting!