Australian medical cannabis companies are ploughing millions into research in a race to bring the first over-the-counter CBD product to pharmacies, with the sector expecting stock to hit shelves next year.
Fifteen months on, no product has yet received TGA approval, but industry experts are predicting several companies will have lodged data for these medicines by the end of this year, paving the way for sales in 2023. “We want to be pioneers and tread new ground - but we need to run a very careful study and put our argument [for approval] together very carefully,” he said.Despite strong demand from Australian patients for the products, Mr Winlo said consumers should be prepared for the reality that these products will have a higher price point many other pharmacy-only medicines.
Emyria chief executive Michael Winlo says companies in the medicinal cannabis space are carefully working to deliver evidence of their products to the TGA.