Weed Week: Medical cannabis prescriptions in Australia are on the rise

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The number of medical cannabis prescriptions issued under Australia’s special access system continues to grow.

In March, 9,959 SAS Category B marijuana prescriptions were issued, two and a half times as many as a year ago, the Australian Therapeutic Goods Administration said this week.

The 8,057 registrations in February were the previous record. An average of 5,000 prescriptions have been prescribed over the past 12 months.

Source: TGA

Since the medical marijuana access scheme was introduced in 2016, over 100,000 prescriptions have been prescribed to an unknown number of patients. (The TGA states that it receives unidentified applications and cannot assign them to individual patients.)

These numbers don’t even include prescriptions written by “authorized prescribers” who often prescribe a large amount of cannabis and don’t need to get TGA approval for every single script.

At the end of February there were 215 “authorized prescribers”, compared to 179 at the beginning of the year and only 29 in December 2019.

Under the rules of the TGA, patients can access marijuana to treat cancer and non-cancer pain. Anorexia and waste related to chronic diseases; Chemotherapy-induced nauseua; and other conditions.

Elsewhere this week, in North America, law was passed in both Connecticut and Mexico.

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

The biggest winner was Eve Investments, an increase of 16.7 percent to 0.7c without news.

MGC Pharmaceuticals (ASX: MXC) was the best performer since the beginning of the year, rising 180 percent to 7c.

code Surname price % Wk YTD% return 6 months% ret Market capitalization
APH AP hemp 41 -4.7 7th 141.2 $ 32,049,307
AGH Althea Group 51 5.2 7.5 8.5 $ 131,186,770
AC8 Auscann Grp St. 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 Can not be global 0.8 0.0 0.1 100.0 $ 41,114,042
CAN Can’t 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 12th 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 Eco fiber 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
THE Esense Lab 1.8 0.0 0 0.0 $ 9,180,684
IDT IDT Australia 36.5 -18.0 18th 128.1 $ 100,900,659
IHL Incannex Healthcare 21.5 4.9 6.5 144.2 $ 227,575,256
LSH Health as a habitat 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 25th -3.8 6th $ 10,607,222
MMY 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 7th 12.9 4.5 191.7 155,003,662 USD
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
DUDE Pharmaceutical ball 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 Sustainable roots 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
SOUTH Suda Pharmaceuticals 4.6 0.0 0.6 12.5 $ 16,540,208
WOA Wide open agriculture 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 USD

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