Asia & Oceania Cannabis Industry & Marijuana Business News

Victoria’s aim to be Australian ‘cannabis capital’ challenged by patient access issues

An Australian state’s ambition to be the nation’s “medical cannabis capital” is unlikely to succeed unless market access for local patients substantially improves, experts note. Patient access to medical cannabis remains a serious concern despite marked improvements over the past year. “The crux of the problem is, we can’t produce medical cannabis products for our market […]

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In unusual move, Thailand to revoke foreign patent requests on marijuana

Thailand’s military government ordered the Department of Intellectual Property (DIP) to revoke within three months foreign companies’ patent applications that include cannabis. The move is unusual, according to one analyst, but would be concerning only if other countries follow Thailand’s lead. Concerns have persisted for months that international companies could use patents to squeeze out […]

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Philippines medical cannabis bill advances, but it’s not law yet

A bill to legalize and regulate medical cannabis in the Philippines was approved on its second reading in the House of Representatives this week, but steps remain before it can become law. The measure would open MMJ access to patients for a wide variety of uses and call for the creation of a Medical Cannabis […]

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Cannabis firms in M&A hunt look beyond Canada for growth

Canadian medical cannabis companies are increasingly looking internationally for acquisitions to tap growth while consolidation in the country’s marijuana sector continues to steam ahead. Last year, 140 U.S. cannabis companies were targets of mergers and acquisitions, a substantial increase over 2017’s 86, according to data compiled by Viridian Capital Advisors and shared with Marijuana Business […]

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Canadian marijuana companies raised landmark CA$12 billion in 2018

Marijuana firms in Canada raised a record 11.96 billion Canadian dollars ($9 billion) last year as they prepared to meet demand in the new adult-use market and grow their medical operations globally. That represents a 150% increase over 2017, when Canadian companies raised CA$4.7 billion, according to data compiled by Viridian Capital Advisors and shared […]

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Chinese delegation will visit Israel to explore medical cannabis opportunities

A Chinese delegation from business and research circles is planning to visit Israel in the coming days to explore opportunities in the medical cannabis sector. Cannabis for medical use remains illegal in China, but if the country’s position changed – even just on CBD, it could open significant business opportunities in the world’s most-populated country. Other […]

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Australia medical marijuana turns corner as patient count surpasses 2,000

Australia’s medical cannabis market is gaining momentum, as approvals for the medicine surpassed 2,000 for the first time. The country saw 568 medical cannabis approvals in November, a 42% increase on-month, bringing the total number of approvals for the first 11 months of 2018 to 2,072, according to the Therapeutic Goods Administration (TGA), which regulates medical […]

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Israeli Parliament ends years of delays, approves medical cannabis exports

After years of delays, the Knesset – Israel’s Parliament – unanimously approved a law to permit exports of medical marijuana late Tuesday. Some analysts believe the move could unlock a market worth up to $4 billion. To assuage concerns from security officials that medical marijuana would leak into the black market, the law empowers police […]

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Thailand legalizes marijuana for medical use, research

Just one month after a proposed law breezed through a key hurdle, Thailand’s National Legislative Assembly voted 166-0 (with 13 abstentions) to allow medical marijuana and cannabis research. The move came as a year-end surprise because the Assembly was expected to take 60 days to deliberate the draft. The Southeast Asia nation could be sitting on […]

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Breakthrough for Philippines medical cannabis bill; momentum builds in Asia & Oceania

Philippine President Rodrigo Duterte now says he will support any legislation to legalize medical marijuana, giving a cannabis bill currently before the country’s House of Representatives a much greater chance of success. The Philippine Compassionate Medical Cannabis Act, which would legalize some forms of MMJ, had faced an uphill battle to become law, but Duterte’s […]

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New Zealand sets ‘binding’ cannabis legalization referendum

A week after approving medical marijuana, New Zealand’s government announced that a binding referendum on ending cannabis prohibition will be held alongside the general election in 2020. If the prohibition is struck down, New Zealand would be the first Group of Twenty nation in Oceania – and the second in the region – to legalize […]

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