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AusCann Group Holdings welcomes medical cannabis legislation

AusCann is trading up 115% to $0.43 from its February 2017 ASX debut at $0.20.

Australian parliament house of representatives
The bill has now been introduced to the House of Representatives for debate

AusCann Group Holdings (ASX:AC8) welcomes the passing of the Medicinal Cannabis Legislation Amendment (Securing Patient Access) Bill 2017 in the Senate yesterday.

The bill was introduced to expand upon the ability of terminally ill patients to access cannabinoid medicines.

Currently, certain terminally ill patients can only access cannabinoid medicines that are imported on a patient by patient basis.

This bill will enable these terminally ill patients to access cannabinoid medicines that are produced by AusCann in Australia as well as those medicines being imported by AusCann.

Through its strategic partnership with Canopy Growth Corporation, AusCann is able to import cannabinoid medicines that are already being used to treat patients in Canada.

Elaine Darby, managing director, commented

“We welcome the introduction of any measures that further enhances the ability of terminally ill patients to access medications their doctors believe can assist them.

“We look forward to being able to supply these Australian patients with high quality, cost-effective, clinically validated medications that have been produced in Australia.”

Next steps for the bill

The bill has now progressed and has been introduced to the House of Representatives for debate.

AusCann is closely monitoring the progress of this bill and looks forward to the pending legislative change being implemented.

In the interim, AusCann’s medical liaison managers are actively working with Australian doctors that are able to prescribe AusCann’s cannabinoid medicines under current legislation.

WATCH NOW: AusCann Group Holdings positioned to be a leading supplier of Australian cannabinoid

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Quick facts: AusCann Group Holdings Ltd

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