Proactive Investors - Run By Investors For Investors

Medical cannabis to be available in UK on prescription by start of November

People suffering from chronic pain, epilepsy, or nausea as a result of chemotherapy or multiple sclerosis will be among the first to be prescribed the drugs
Cannabis oil
Previously, cannabis-derived medicines could only be prescribed in exceptional circumstances

Medicinal cannabis products, used in the treatment of various conditions that cause chronic pain, will be available on prescription to patients from the start of next month following a rescheduling of the drug by UK Home Secretary Sajid Javid.

People suffering from chronic pain, epilepsy, or nausea as a result of chemotherapy or multiple sclerosis (MS) will be among the first to be prescribed the drugs, which marks a turning point in the push to legalise cannabis products in the UK.

READ: Medicinal cannabis investor Sativa Investments reports 'significant progress' post IPO

At the moment, cannabis-derived can only be prescribed in exceptional circumstances after permission is granted by a panel of medical experts, although the Home Office will relax the rules from 1 November.

The policy change follows an incident in June when 12-year old Billy Caldwell had his cannabis oil, prescribed to alleviate the symptoms of epilepsy, confiscated at Heathrow Airport, a decision that was only reversed when an emergency permit was issued by the government.

However, Geremy Thomas, chief executive and founder of medical cannabis company Sativa Investments PLC (NEX:SATI) said last week that the move by the government is not an indicator that the legalisation of recreational marijuana is in the offing.

Instead, Thomas says things will “become clearer” regarding the details of how the medical cannabis industry in the UK will take shape.

He adds that existing manufacturers outside the UK will likely be awarded limited export licenses for medical cannabis products, with investors “becoming more aware” of the scale of the industry.

“[Investors] will recognise that we [the UK] will be a very significant cannabis market,” he says.

View full SATI profile View Profile

Sativa Investments Timeline

Related Articles

man pointing to brain
April 25 2019
Brain Scientific’s EEG technology is far cheaper and less bulky than a traditional EEG system, but provides EEG tracings of the same quality
microscope
April 30 2019
The health sciences company has five research and development programs, including gene therapy, its Sol-gel program for nose-to-brain delivery of medical compounds including cannabinoids, as well as non-addictive analgesic peptides as a replacement for morphine, fentanyl and oxycodone
Nemaura Medical Inc CEO Dr Faz Chowdhury
November 05 2018
The medtech company is eying explosive growth with sugarBEAT, on the cusp of launching in the UK, followed by the rest of Europe in 2018

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use