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CANNABIS INDUSTRY 

BREAKING  NEWS

Shape-Shifter: Australia’s Biggest Pharmacy Chain Embraces Medical Cannabis

Shape-Shifter: Australia’s Biggest Pharmacy Chain Embraces Medical Cannabis

Australia's biggest pharmacy chain has joined a medicinal cannabis joint venture that plans to deliver its first products across its network in the coming months.

Australian Associated Press

15 March 2023 at 09:30:00

The Daily Mail reports that Wellnex Life announced on 14 March 2023 that Chemist Warehouse will take a 10 per cent interest in the cannabis venture, which already includes OneLife Botanicals.


The joint venture plans to launch the first of five medicinal cannabis products by the end of the financial year on 30 June 2023, under a jointly-owned brand with Chemist Warehouse.


"We are excited to be entering a rapidly transforming industry which is seeing surging consumer demand with growing recognition of the legitimacy of cannabis-based medicine by patients and prescribers," Wellnex Life CEO George Karafotias said.


The joint venture has reached an agreement with OnTracka to develop a telehealth application for connecting patients with authorised prescribers and relevant cannabis products.


Australian regulators in 2016 created several pathways under which medical cannabis can be legally prescribed to patients.


Last year, 970,041 Australian patients, including 307,026 new ones, were prescribed medical cannabis by "authorised prescribers" - doctors specifically authorised to dispense cannabis.


Another 117,000 prescriptions for medical cannabis were dispensed last year by GPs under the Special Access Scheme Category B, meaning a doctor does not have a special dispensation to prescribe cannabis but asks for approval on a case-by-case basis.


Medicinal cannabis has been prescribed to treat chronic pain or anxiety, sleep disorders, cancer pain, insomnia, post traumatic stress disorder, depression, arthritis and migraines.

President Cyril Ramaphosa tells the National Council of Provinces that a high level finance team is "urgently finalizing" a public/private sector cannabis funding scheme that will assist legacy growers.

Presidency’s Latest Assurances: Special Finance Team Urgently Finalizing a Funding Framework for Cannabis and Hemp Industries

President Cyril Ramaphosa tells the National Council of Provinces that a high level finance team is "urgently finalizing" a public/private sector cannabis funding scheme that will assist legacy growers.

The Institute for Economic Justice has recommended that adult-use consumption of cannabis be legalized in South Africa in a regulated way and has Cosatu's backing.

Labour Throws Its Weight Behind Regulated Legalization of Cannabis in SA

The Institute for Economic Justice has recommended that adult-use consumption of cannabis be legalized in South Africa in a regulated way and has Cosatu's backing.

Unless Government comes up with a plan to protect South Africa's legacy cannabis growers, they will be sidelined for sure by cannabis reform in its current incarnation.

Rise of Sophisticated Illegal Cannabis Grow Ops and Government Policy Vacuum Push Legacy Growers into Poverty

Unless Government comes up with a plan to protect South Africa's legacy cannabis growers, they will be sidelined for sure by cannabis reform in its current incarnation.

Shape-Shifter: Australia’s Biggest Pharmacy Chain Embraces Medical Cannabis

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