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cbd oil price australia

Cbd oil price australia

The Australian Medical Association did not support the TGA’s decision to down-schedule the substance, citing the lack of ARTG-listed products – alongside the potential for interactions with prescription medicines, and a need for more evidence.

CBD is a compound found in the cannabis plant, but unlike THC, it does not have psychoactive effects. On 1 February, it became legal to purchase products containing low-dose cannabidiol (CBD) over the counter, after the Therapeutic Goods Administration down-scheduled the substance from a Schedule 4 (prescription medicine) to a Schedule 3 (pharmacist-only medicine). On 15 December, the TGA announced the decision after a safety review that indicated “known adverse events of CBD at low doses were not serious”.

“We’re filling the gap of 70 years of prohibition where there was no research,” says Tommy Huppert, the CEO of Cannatrek, an Australian cannabis grower and manufacturer. Huppert’s company has just inked an exclusive supply deal with Chemist Warehouse, though what exactly it will supply remains to be seen. “Everyone’s really racing to get the product to market. What sort of mountain will we have to climb? Is it going to be weeks? Months?” he wonders.

“Now we have approval, but in order for companies to get these products to market they have to … show that the product is safe, but also efficacious.

And when it does arrive, it could well be a price point that will shut a lot of people out. In the UK, a bottle containing a 300mg dose of CBD oil – enough for two days’ use at the TGA-approved level – costs about A$40.

“We don’t know if it will work,” says Assoc Prof Yvonne Bonomo, a physician in addiction medicine and chief investigator at the Australian Centre for Cannabinoid Clinical Research Excellence. “It may work for some people. It’s hard to know. That’s why we need to look at it.”

Last modified on Sat 6 Feb 2021 19.02 GMT

The terms of the Cannatrek agreement were not disclosed, but it also involves a small chunk of upfront equity being given to Chemist Warehouse and additional slices dependent on certain targets being met.

Founded by CEO Tommy Huppert in 2015, Canntrek began building up its local farming and development operations as soon as medical cannabis was legalised in Australia in 2016.

Chemist Warehouse, Australia’s largest pharmacy chain, will be able to supply low-dose cannabidiol (CBD) products to the masses thanks to an exclusive supply deal with medicinal cannabis company Cannatrek.

“We had a situation where they were the right people to do business with and we get equity in the business, so the more we build up the business, the more benefit we get from the equity. Consumers also win because we’re able to offer the best prices.

Cannatrek will work with Chemist Warehouse to develop and bring to market new CBD products on an exclusive basis and these will be sold under one of the Chemist Warehouse brands. Both parties hope the products are available to the general public quickly.

Cbd oil price australia

Neuropharmacologist, University of Wollongong lecturer and Associate Investigator with ACRE, Dr Katrina Green, also notes that after 12,000 years of interaction between humans and cannabis, our understanding of this plant is still very much in its infancy.

'It definitely has an effect on mood': Cannabidiol used to ease pain and anxiety in pets

What you and your mates potentially know as CBD oil is actually cannabidiol, a compound found in cannabis/word you’ll probably have to try pronounce at least twice.

What’s CBD good for?

Of course, if you do go that route, there’s the issue of cost, which is prohibitive for a lot of people. Sitting at about $10-$15 a day, “you’d probably find it’s cheaper to grow your own (and a lot of people do).”