BREAKING NEWS: TGA legalises low-dose CBD as an Over-the-Counter Pharmacist Only Medicine
Sydney Based Medicinal Cannabis Company Oz Medicann Group (OMG) welcomes the decision by the Therapeutic Goods Administration (TGA) to legalise low-dose CBD as a pharmacist only medicine. Under the new arrangements, patients will now have access to safe, high quality and affordable medicines after an initial consultation with their pharmacists. Read the full press release by Oz Medicann Group (OMG) here.
WHY HEMP OZ CBD?
Australians will now have access to safe, high quality and affordable low-dose CBD (up to a maximum of 150 mg/day) after an initial consultation with their pharmacists.
The decision to re-schedule low-dose CBD products from the current Schedule 4 to a Schedule 3 pharmacy only medicine opens the market to Oz Medicann Group (OMG) to develop and produce new safe, effective and affordable quality products.
The decision opens the door for the sale of low-dose CBD products (with 2% or less other cannabinoids, but only <1% THC) that demonstrate efficacy and benefits that meet the TGA’s requirements for a registered pharmaceutical product.
Once CBD products are registered by the TGA they will be available to adults over the age of 18.
The value of the future Pharmacy CBD medicine and therapeutics market is projected to exceed A$200M pa by 2024.
OMG will partner with the National Institute of Complimentary Medicine (NICM) to launch the first Australian research project focused on CBD as a treatment for the complications associated with Type II Diabetes.
On 15th December 2020, the TGA announced to down-schedule certain low dose cannabidiol (CBD) preparations from Schedule 4 (Prescription Medicine) to Schedule 3 (Pharmacist Only Medicine)
Globally accepted - Legal in a number of states in the USA, UK, Europe and other countries under the local medical regulatory framework
Recommended dose up to 60mg CDB per day with a 30 day supply
Products must be 98% pure CBD with nil THC
Oral or sub-lingual application
Inflammation and Joint Pain
Headaches and Migraines
Improve memory and focus from increase brain cell production
CBD is a Phytocannabinoid - a natural compound found in cannabis. It has a very similar genetic makeup to tetrahydrocannabinol (THC), however does not contain the psychoactive compound of THC, which delivers the 'HIGH' commonly experienced with Cannabis or Marijuana. Numerous medical studies have proven that CBD is an effective natural treatment for a number of conditions. Globally CBD has become the go-to natural alternative medicine for consumers with a variety of conditions.
ABOUT HEMP OZ
The Hemp Oz Brand is highly regarded as a trusted brand that is dedicated to research and innovative product development. Hemp Oz is currently undertaking research with a number of Australia's leading universities, CSIRO and is participating in Federal Government research programs. Throughout 2020 Hemp Oz has been developing and testing products for ARTG registration in preparation for rescheduling.
We advise registering your interest as soon as possible as opportunities are strictly limited.
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