As the regulations on CBD get less strict, more people have been exposed to the compound, and the numerous medical benefits it has to offer. While scientific research is still scarce, there’s plenty of anecdotal evidence on the effectiveness of cannabidiol, and more people are taking notice of it and of the numerous ailments it is effective against.
In Australia, Victoria has been at the forefront of the medical cannabis campaign. It started in December 2015 with the announcing of the Access to Medical Cannabis Bill. 2017 brought about the Andrews Labor Government’s Compassionate Access Scheme, which gave 29 children who have intractable epilepsy the opportunity to receive CBD based treatments to help manage their symptoms. Minister for Health, Jenny Mikakos, says that the reform was to aid families who were forced to choose between watching their children suffer or break the law. “Thanks to our lead,” she says, “medical cannabis is now legal in Australia.”
However, CBD still isn’t as accessible as it should be to all those who could benefit from it. As a way to address this, the Andrews Labor Government’s Compassionate Access Scheme will be expanded. Minister of Health Mikakos announced that the scheme would be extended to cater for 90 kids, 30 more than the current 60 it can handle. It is still unclear whether this will be enough to cater to the demand for these CBD treatments.
The Victorian Government has also been growing its medical cannabis to be used in cannabidiol based medicines. However, according to Minister Mikakos, cannabis grown by the state will now be used in health and medical research, as well as clinical trials. The Government currently has 12 kilograms of purified, crystallized cannabidiol produced from cannabis grown in the state. Soon, the Department of Health and Human Services will start accepting applications from medical researchers who wish to access the CBD.
The Andrews Labor Government also talked of medical cannabis companies that have established themselves in the country. The companies have created more than 500 local jobs. “The Labor Government will continue to lead the way in developing a robust medical cannabis industry, making Victoria a hub for groundbreaking research and development.”
Australia’s Cannatrek announced in August this year that its plans to build a medical cannabis facility had been approved. Supposedly, it will be the largest medical cannabis facility in the world, and it is expected to create around 400 local jobs.
CBD industry watchers believe that companies like Grapefruit Boulevard Investments Inc. (OTCQB: IGNG) and Earth Science Tech Inc. (OTCQB: ETST) are glad that Victoria is taking such large strides to bring CBD treatments to patients in Australia. Could the U.S. federal government take its cue from such developments?
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