Exploring cannabis crop opportunities

The Future of Medicinal Cannabis symposium featured a series of national and global speakers that discussed the challenges and opportunities of the medicinal cannabis trade including regulation, launching a global business and defining the cannabis pharmacopeia.

Industry and Skills Minister David Pisoni was among the key speakers.

He said business opportunities for medicinal cannabis were significant and extended far beyond cultivation.

“It’s not just about growing cannabis but more about SA being perfectly placed to engage in the sophisticated production, processing, manufacturing and commercialisation of a pharmaceutical-grade product,” he said.

“Our state has the right blend of strengths in advanced horticulture, research and specialised manufacturing to have a real competitive advantage in this space.”

Mr Pisoni said SA should have access to an optimal range of treatments and services to promote the best health outcomes for patients and the community.

“There is significant public interest and support for the medicinal use of cannabis and cannabis-derived products arising from reports of symptomatic benefit in a range of medical conditions,” he said.

“Clinical trials are underway to further develop evidence about the use of medicinal cannabis across a range of health conditions that will contribute important knowledge and understanding of these medicines.    

“The Marshall Liberal Government supports the development of this industry within the existing Commonwealth regulatory framework and licencing regime.”

Event organiser LeafCann Group has also announced the launch of subsidiary Alchemy Bioservices to oversee the training and management of the emerging medicinal cannabis workforce.

LeafCann chief executive officer Elisabetta Faenza says Australia is missing out on billions of dollars in export income by being slow to build capacity in the medicinal cannabis sector.

“Our vision is to establish SA as the centre of excellence for education, research, industry innovation and development for the global cannabis sector,” she said.

“LeafCann has plans to recruit up to 40 local people in its current facility before the end of 2019 and together with our partner operations, will require more than 250 employees by 2020.”