Paul Manning, Helius Therapeutics CEO

"Time for New Zealand to harness economic potential of medicinal cannabis"

"Since the Covid-19 pandemic struck, we’ve heard a lot about resetting the economy and the need to focus on sunrise, not sunset, industries," Paul Manning, Helius Therapeutics CEO, explains. "At the same time, during the Alert Level Four lockdown in April, the Ministry of Health pushed play on New Zealand’s Medicinal Cannabis Scheme."

The regulations are now in effect, enabling local commercial cultivation of cannabis and the manufacturing of THC and CBD products. New Zealand GPs can now apply their professional discretion to prescribe medicinal cannabis.

"Despite years of advocacy, and Parliament passing the legislation with wide celebration in 2018, the Scheme’s arrival was met with little fanfare. This was not surprising given the country’s attention was squarely elsewhere, and at any rate getting locally manufactured products into the hands of Kiwi patients is still months away."

"However, with debate over New Zealand’s economic future gathering momentum, the success of our newest industry is more important than ever, and of course we’re not alone."

Estimated to reach $55 billion by 2025, medicinal cannabis is one of the fastest growing industries in the world.


Publication date:

Receive the daily newsletter in your email for free | Click here

Other news in this sector:

© 2020

Sign up for our daily Newsletter and stay up to date with all the latest news!

Subscribe I am already a subscriber