In This weeks episode, we review top stories about CBD and the Cannabis industry that have caught our eye, including a story from last year where a British baby became the first in the world to receive medicine derived from Cannabis, angry UK CBD hemp oil farmers having to destroy their crop, and how the Hemp industry is exceeding growth expectations in Australia.
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Ban on cultivating medicinal CBD oil from cannabis ‘unfair’ and ‘insane’, farmers say – Sky News:
https://news.sky.com/story/ban-on-cultivating-medicinal-cbd-oil-from-cannabis-unfair-and-insane-farmers-say-12289791
Australian medicinal cannabis market expected to exceed 2021 growth expectations, hitting $200 million mark – Proactive Investors:
https://www.proactiveinvestors.co.uk/companies/news/950040/australian-medicinal-cannabis-market-expected-to-exceed-2021-growth-expectations-hitting-200-million-mark-950040.html
British baby is world’s first to get cannabis-derived medicine to prevent seizures – Sky News:
https://news.sky.com/story/british-baby-is-worlds-first-to-get-cannabis-derived-medicine-to-prevent-seizures-11995356
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This video in not intended to be used as medical advice. If you have any concerns about using CBD or other cannabinoid products, please consult your doctor or healthcare professional.
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British farmers and small businesses have described current legislation that prohibits them from cultivating CBD oil from cannabis plants – while it remains legal to import it from abroad – as “unfair”, “ridiculous” and “insane”.
It comes as a second report in just two weeks, backed by farmers, industry bodies and MPs, has called for a liberalisation of “nonsensical” restrictions around the production of CBD in the UK.
CBD, also known as cannabidiol, is derived from the leaves and flowers of the cannabis plant. But unlike THC – the property that makes cannabis users high – CBD has no psychoactive effect.
It is legal in the UK and is used in a wide variety of wellness products freely available to buy at high street shops.
But despite this, the plant itself remains a restricted crop under the Misuse of Drugs Act and growing it requires a government-issued licence.
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The Australian medicinal cannabis market is continuing its strong growth trajectory and is expected to exceed growth expectations in 2021, by more than doubling to $200 million from around $100 million in 2020.
Patient numbers are estimated to rise to about 75,000 active patients by the end of December 2021, up from 30,000 end-2020 and 45,000 at the close of the first quarter of 2021.
Special Access Scheme Category B (SAS-B) approvals for 2020 doubled to 100,000, with February 2021 achieving a record-breaking 8,000 approvals.
Year-to-date sales in 2021 have already surpassed full-year revenues in 2019.
In FreshLeaf Analytics’ first half 2021 report on the ‘Australian Medicinal Cannabis Market: Patient, Product and Pricing Analysis’, the research house also sees a large increase in authorised prescribers “after a long period of stagnation” which it sees as a key driver of market growth.
While SAS-B remains the primary channel for accessing medicinal cannabis, Freshleaf estimates that almost one-in-five active patients are now prescribed medicinal cannabis by an authorised prescriber.
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A British baby has become the first in the world to be given a cannabis-derived medicine to prevent seizures in infants with a condition that can lead to brain damage.
Oscar Parodi was born with neonatal hypoxic-ischemic encephalopathy (HIE), which is a lack of oxygen or blood flow from the placenta to the baby.
The baby, now 11-weeks-old, received cooling treatment at Norfolk and Norwich University Hospital, which is standard for infants born with HIE, but his mother also agreed he could be given a dose of the study’s cannabis-based drug as well.
It is the first time the drug has been used to try to prevent seizures in a baby with HIE, and is already being used to help treat children with rare forms of epilepsy.
Researchers on the study, led by Guy’s and St Thomas’ NHS Foundation Trust in London, hope the drug could one day be used routinely in neonatal care to help babies at risk of seizures and brain injury.
The trial is looking to see if the medicine is safe and effective in lessening the degree of brain injury for those born with HIE.
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