When Federal Treasurer Jim Chalmers hands down the budget on 14 May, the pressing need for fiscal responsibility is likely to trump spending programs.
In an era of fake news, it’s getting more difficult to separate fact from fiction. Yet it’s imperative we do so because the consequences for being deceived can be enormous.
Cannabis moves further into the mainstream
Cannabidiol oil, more commonly referred to as CBD oil, received the green light from the Therapeutic Goods Administration (TGA) for over-the-counter sales in Australian pharmacies from February 1.
It’s a big step in making CBD oil mainstream. Products containing up to 150mg of cannabidiol (CBD) will now be able to be sold by pharmacists without a prescription. Prior to this, CBD oil required a doctor’s prescription, which made the entire process drawn-out and cumbersome. From Feb 2022, life will be a lot easier for those who want to use this drug.
For those that don’t know, CBD oil comes from the Cannabis plant. Compounds found in Cannabis are tetrahydrocannabinol (THC) and cannabidiol (CBD). Cannabidiol products will not get users high, as they lack THC. Instead, the CBD oil reduces stress, pain, anxiety and promotes well-being. In the US, CBD oil has become a mainstream product and has been added to edible products such as gummies, baked goods, and balms.
CBD oil has been gaining traction in Australia, and the TGA’s decision to allow approved low-dose CBD-containing products for use in adults is a major milestone for the sector. It will create a major shakeup in the pharmaceutical industry and opens the door to a new line of products. Sales in CBD oils are set to skyrocket in the coming months. There is a growing list of stocks involved in the sector with recent performances as follows:
