Author: Johnny Green

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Uruguay Likely To Allow Legal Cannabis Sales To Tourists

Written by Johnny Green on September 15, 2021. Posted in Politics.

Uruguay made history in 2013 when it became the first country on the planet to legalize cannabis for adult use. Various countries had enacted cannabis decriminalization measures prior to 2013, or cannabis was ‘tolerated’ in certain countries, or in the case of the U.S. cannabis was legal for adult-use in some jurisdictions as of 2012 (Washington State and Colorado).

However, the title of ‘first country to legalize cannabis for adult use at a national level’ will forever be bestowed upon Uruguay. Since Uruguay legalized in 2013 only one other country has passed somewhat similar legislation – Canada. However, whereas Canada legalized cannabis sales to all adults of legal age, Uruguay’s model still does not provide for legal sales to non-residents.

It’s an interesting difference that has played out for several years now, and it is likely that most countries that legalize in the future will adopt a model that is more in line with Canada’s model versus Uruguay. Even Uruguay appears to be moving closer to a Canadian model. To be fair, Uruguay was the first to ever enact such a historic cannabis policy, so it is understandable that they wouldn’t get that part right at first. Fortunately, it’s likely that tourists in Uruguay will get to make legal purchases in the near future. Per Hindustan Times:

The first country in the world to legalize most uses of marijuana is looking to capture business away from illicit sellers and bolster its cannabis industry by allowing foreign visitors to buy pot.

The administration of Uruguayan President Luis Lacalle Pou could release its plan as soon as this year in a bid to build political consensus and support, said Daniel Radio, secretary general of the National Drugs Board. The aim isn’t to promote Uruguay as a destination for cannabis tourism, but rather to steer tourists away from the black market and into the regulated market, according to Deputy Tourism Minister Remo Monzeglio.

It is no secret that currently cannabis can still be easily obtained by tourists in Uruguay. It’s not as if since legal sales are not permitted that tourists aren’t purchasing cannabis in Uruguay. Many tourists purchase cannabis every day in Uruguay, it’s just that the sales are from unregulated sources.

Uruguay, like every other country on earth, should allow legal, regulated sales. Consumers benefit from being able to purchase lab tested products in well-lit areas without the fear of prosecution. Local regions benefit from the creation of good jobs, and all levels of government benefit from tax revenue and fee generation. Hopefully Uruguay makes the shift sooner rather than later.

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Israel’s Public Companies: An Overlooked Opportunity?

Written by Johnny Green on September 15, 2021. Posted in Business.

This article is based on an interview conducted by Laura Herschlag, partner in Teqa Capital

The first commercial medical cannabis cultivator was established in Israel in 2005 as a nonprofit organization. By 2016, eight licensed cultivators had been established to provide products to several thousand patients. Five years later, over 50 producers, and counting, serve close to 100,000 licensed patients.

In addition to cultivation, Israel’s cannabis ecosystem includes companies developing phytocannabinoid drugs, processes for lab based cannabinoid production, breeding platforms, and many other innovations implementing technologies such as AI, robotics, and computerized vision. However, only a handful of these companies have become public and most did so through reverse mergers on the Tel Aviv Stock Exchange (TASE). Currently 11 pure cannabis play companies are traded on the TASE: Intercure, Together, Panaxia, Univo, Intelicanna, Pharmocann, Tikun Olam Cannbit, Seach Medical, Medivie, and Cannassure. Other public companies, such as Evogene, are involved in the cannabis space in addition to their key businesses.

Israeli companies are increasingly eyeing overseas markets. In February 2021, Kanabo became the first medical cannabis company to be listed on the London Stock Exchange. IM Cannabis is double listed on the CSE and on NASDAQ. Intercure listed on the TSX through a SPAC and is preparing to list on NASDAQ. How do Israeli companies compare with their overseas counterparts as an investment opportunity? Shiry Eden, CEO and Founder of cannabis strategy and analysis firm NISHOT, believes investors may be missing out on a good deal. According to Eden, Israel’s public companies are undervalued compared to their overseas counterparts.

A comparison of revenue multiples reveals that Israeli companies with similar revenues as non-Israeli companies have significantly lower revenue multiples. For instance, Seach’s 2020 revenue ($11.4) was similar to Curaleaf’s ($12M) but the company is traded at only one fifth Curaleaf’s market cap. Intercure, with a bit less than half the 2020 revenue of Cronos ($20), has a revenue multiple of 13.8 compared to Cronos’ revenue multiple of 58.5.

Eden points to this discrepancy as an indication of the potential opportunity. She asserts that the following market trends will drive growth of Israeli companies in the near future:

1. Increasing revenue and profitability: Aggregate revenues of Israeli public companies grew 125% in the past year, mostly due to a doubling of the number of medical cannabis patients. Israeli companies, in general, have a positive EBITDA and net profit.

2. Israel’s medical market is growing: Currently serving 100,000 patients the Israeli medical cannabis market is expected to be twice as large within the next year or two.

3. A recreational market is imminent: Three parties in the new Israeli government coalition have included some form of legalization for cannabis in their platforms. The previous government had already moved to de-schedule CBD and the incoming government is expected to continue the process. Israeli companies are gearing up for this change. For example, Canndoc has signed an agreement with Charlotte’s Web to supply CBD products to the Israeli market.

4. Easing of export regulations: Recent updates to cannabis export regulations will facilitate an export market which, until now, has been highly restricted.

5. Industry consolidation: As the industry matures, Israeli companies will become attractive M&A targets for overseas players.

6. The emerging psychedelics market: Israeli cannabis companies, like their overseas counterparts, have already begun exploring the nascent psychedelic medicinals market as a potential for expanding their revenue streams.

Eden attributes the dearth of foreign investment in Israel’s public cannabis companies to a lack of awareness. She points out the decades of accumulated experience in medical cannabis that provides a unique capability to address the needs of patients. Israeli cultivation is known for its consistency in providing active ingredients that are associated with specific indications, such as CBD for children with autism. She believes that as exposure to Israel’s cannabis companies and ecosystem increases, Israel’s public cannabis companies will attract a growing number of investors seeking unique opportunities.

About Shiry Eden, CEO & Founder, NISHOT

NISHOT is a strategy and analysis firm focused on the global cannabis industry, serving as an advisor to Sela Cannabis, an Israeli global oriented mutual fund. Eden has over 20 years’ experience as an economist and strategic advisor for medium to large scale corporations in Israel with expertise in the capital markets. Eden holds an MBA from Tel Aviv University and a BA in Economics and Communications Hebrew University.

About Teqa Capital

Teqa Capital is a Swiss-Israel boutique consultancy that brings Israeli innovation to Swiss investors and business people. More information on Teqa Capital can be found via their website: www.teqacapital.com

Zimbabwe Continues Shift From Tobacco To Cannabis

Written by Johnny Green on September 15, 2021. Posted in Politics.

Cannabis reform is spreading across the African continent, albeit in a slower fashion compared to most other continents. Many countries in Africa are at least exploring medical cannabis reform. In the case of South Africa, adult-use legalization appears to be on the way soon.

African nations have historically taken a harsh stance against cannabis, treating it as a very harmful substance. Fortunately, that has changed in recent years, including in Zimbabwe.

Zimbabwe is currently the largest producer of tobacco in Africa. In fact, it is estimated that as much as 20% of Zimbabwe’s exports are for tobacco. With demand for tobacco products shrinking across the globe, farmers in Zimbabwe are looking for a better crop to cultivate.

Cannabis cultivation was decriminalized in some instances in Zimbabwe in 2018, and the country’s first legal harvest occurred a year later. Industry regulations came a year after that, and Zimbabwe is now home to an emerging legal cannabis industry. Per Hemp Today:

Investors from Germany, Switzerland and Canada are among those who have received cultivation and processing licenses under Zimbabwe’s cannabis program. A total of 57 licenses were handed to both foreign and local enterprises, the Zimbabwe Investment and Development Agency (ZIDA) announced this week.

The Ministry of Lands and the Medicines Control Authority of Zimbabwe are working with ZIDA in administration of the cannabis business, and share authority for regulatory requirements.

ZIDA said some farms are already operating.

The legal cannabis export landscape is getting more crowded by the day, with more countries ramping up their domestic cultivation operations with an eye for the international market.

The timing of Zimbabwe’s export licensing efforts could prove to be crucial if it results in the country gaining a significant foothold on the international export market prior to other countries being able to do so, including other countries in Africa.

Adult-use legalization does not appear to be on its way any time soon in Zimbabwe, however, if the cannabis plant can surpass the tobacco plant when it comes to revenue generation, that could speed up the process.

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U.S. Drug Official: Legalization Hasn’t Led To Jumps In Adolescent Use

Written by Johnny Green on September 15, 2021. Posted in Politics.

Cannabis opponents have several go-to propaganda talking points, however, the ‘what about the children’ talking point seems to be their favorite one. It’s definitely one that they go to early and often whenever cannabis reform efforts are ramping up in a particular jurisdiction and opponents want to spread false fear.

However, that talking point is slowly dying a natural death as cannabis reform continues to spread across the globe. With every reform that is implemented, the ‘what about the children’ talking point gets further debunked as a regulated system keeps youth consumption rates in check.

Opponents act as if cannabis reform opens the floodgates to youth access to cannabis while simultaneously acting as if prohibition is a better policy. The fact of the matter is that under prohibition cannabis is still widely available for most youth, and the cannabis that they obtain is untested and could be contaminated with who knows what.

Compare that to a regulated system where products are tested, as well as tracked from seed to sale. In a regulated system, people check the ID of the purchaser to ensure that they are of legal age. Under prohibition, there obviously is no legal age – youth are only hindered by finding a dealer that will sell to them.

The top federal drug official in the United States recently acknowledged that legalization has not resulted in a spike in youth consumption, which serves as a direct blow to the propaganda efforts of cannabis opponents. Below is more information about it from our friends at NORML via a news release:

The enactment of statewide laws regulating the adult-use cannabis market has not led to an increase in the percentage of young people experimenting with the plant, according to comments made recently by Nora Volkow, Director of the US National Institute on Drug Abuse.

Speaking on a podcast hosted by Ethan Nadelmann, the former Director of the Drug Policy Alliance, Volkow admitted that she had initially expressed concerns that legalization would lead to an increase in the prevalence of adolescents consuming cannabis. Thus far, however, she said, “Overall, it hasn’t.”

To date, dozens of federal and state-specific surveys have failed to identify any independent link between the legalization of cannabis for either adult-use or medical purposes and any rise in the percentage of teens using it. Moreover, data published in 2019 in the journal JAMA Pediatrics reported that the enactment of laws regulating the use of cannabis by adults is associated with declines in self-reported marijuana use by young people. Separate data compiled by the US Centers for Disease Control has reported that the number of adolescents admitted to drug treatment programs for marijuana-related issues has fallen precipitously in states that have legalized and regulated the adult-use market.

During the interview, Volkow also acknowledged that legalization has been associated with “better outcomes” in various states, and that federal laws and regulations on the cannabis plant have “hindered” scientists’ ability to research it – particularly with respect to the plant’s therapeutic efficacy.

An audio archive of the Nadelmann/Volkow interview is available online. Additional information regarding cannabis and teen use patterns is available from the NORML fact sheet, ‘Marijuana Regulation and Teen Use Rates.’

Panama Unanimously Approves Medical Cannabis Bill

Written by Johnny Green on September 1, 2021. Posted in Politics.

Central America consists of seven countries – Belize, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and Panama. All of those countries have differing cannabis laws.

Less than 10 grams of cannabis has been decriminalized in Belize since 2017. ‘Personal consumption’ carries no penalty in Costa Rica, although it’s unclear what ‘personal consumption’ entails.

El Salvador has particularly harsh cannabis laws, as does Guatemala to a lesser degree. Consuming cannabis in Honduras is illegal, yet ‘tolerated’ in some regions. Cannabis is also illegal in all forms in Nicaragua.

With that in mind, it is historically significant whenever a Central American country reforms its cannabis laws, which is what is happening in Panama. Per Reuters:

Panama’s national assembly unanimously passed a bill on Monday that would regulate the use of medical cannabis, making it the first nation in Central American to do so.

The proposal, which would set up a registry of authorized cannabis patients and permit further research on the drug, was approved by a vote of 44 lawmakers in favor and none voting against it.

The medical cannabis measure that received unanimous support in Panama’s national assembly now goes to President Laurentino Cortizo for a final signature.

Panama may not be the first country to legalize cannabis for medical use, and in fact is quite a bit behind many other countries, however, it is the first to legalize medical cannabis in its region, and that is definitely worthy of celebrating.

Japan Minister Directs Local Governments To Ease Restrictions On Hemp

Written by Johnny Green on September 1, 2021. Posted in Politics.

Japan is currently home to some of the harshest cannabis laws on planet earth. Currently, possession of cannabis carries a potential prison sentence of up to 5 years in Japan. Also, the cultivation of cannabis carries a potential prison sentence of up to 7 years.

As if that wasn’t bad enough, Japan’s health ministry recently created a panel to analyze the nation’s cannabis laws to see if they can be made harsher. The ordered review was apparently in reaction to ‘rising cannabis consumption rates among Japan’s population.’

In 2019 Japan experienced a 21.5% increase in measured cannabis consumption compared to the previous year. That increase may sound alarming to some people, however, it needs to be put into context.

Consider the fact that only 1.8% of people in Japan report as having consumed cannabis at some point during their lifetime. That’s a minuscule number compared to 41.5% in Canada and 44.2% in the United States.

Obviously, it doesn’t take a lot of people consuming cannabis in Japan to spike the consumption rate. Even hemp is treated more harshly in Japan, however, that is thankfully changing. Per Tokyo Web:

The Ministry of Health, Labor and Welfare has decided to issue a notice to prefectures in mid-September to ease regulations beyond rational guidance regarding industrial cannabis, whose cultivation method is being discussed. At the same time, from October, a forum for three-party discussions between the Ministry of Health, Labor and Welfare, prefectures, and growers will be set up.

Domestic cannabis growers have obtained licenses from prefectures to cultivate varieties with extremely low content of the hallucinogenic component “tetrahydrocannabinol (THC)” and produce fibers for rituals. However, strict regulations on the installation of surveillance cameras and fences in the fields and patrols have become a problem.

When the ministry refers to ‘industrial cannabis’ it is talking about hemp. Hemp is non-psychoactive and does not induce intoxication. It is a useful plant that can do many things.

However, if any country’s hemp industry is bogged down by cumbersome regulations such as has been seen in Japan, it will always be hard times for hemp farmers. Hopefully Japan gets it in gear and trends towards the right side of history sooner rather than later.

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Germany’s Drug Commissioner Endorses Decriminalizing Cannabis

Written by Johnny Green on August 25, 2021. Posted in Politics.

In recent years Germany has taken over the title of ‘cannabis capital of Europe’, at least from a cannabis industry perspective. Germany’s medical cannabis industry is booming, and with domestic production ramping up, more industry growth is on the way.

However, on the adult-use side of the cannabis policy equation, Germany is still lagging behind a handful of other countries. Uruguay and Canada have already legalized cannabis for adult use, although each country has its own model.

Legal decisions in countries like Mexico and Italy have carved out some legal protections for adult-use cannabis consumers in those nations, and several countries are pursuing adult-use cannabis pilot programs in some fashion.

German lawmakers rejected an adult-use cannabis legalization measure late last year, although, with a federal election looming support for adult-use legalization could increase depending on the results and who is in office post-election.

Decriminalization On The Horizon

Separate from the push to legalize cannabis for adult use is an effort to at least decriminalize a personal amount of cannabis flower. That is a policy change that appears to be supported by Germany’s federal drug commissioner. Per Spiegle (translated from German):

Now the drug commissioner of the federal government, Daniela Ludwig ( CSU ), has advocated prosecuting cannabis possession up to a personal use limit of six grams nationwide as an administrative offense – and no longer as a criminal offense.

“In my opinion, a limit of six grams would be acceptable – nationwide,” the government representative told the editorial network Germany (RND). ”A limit value above which the possession of cannabis should continue to be punished as a criminal offense and not as an administrative offense must be set with care, because it has a certain signal effect and an influence on consumer behavior.”

Ludwig is advocating for decriminalization in Germany as a compromise between those that want to legalize cannabis for adult use and those that want cannabis to only be legal for medical purposes.

Decriminalization Does Not Go Far Enough

Decriminalizing cannabis up to 6 grams is not as straightforward of a policy as it may seem to some people. Does the 6-gram limit only apply to dried cannabis flower? What about concentrates, edibles, transdermal patches, tinctures, etc.?

Years ago, cannabis decriminalization was more straightforward because the variety of cannabis products was largely limited, and a flower-only decriminalization policy was more encompassing of what consumers had in their possession. That is not the case now, including in Germany.

Those concerns are in addition to the flaws in the basic premise that cannabis decriminalization is a good public policy. Sure, decriminalization is better than outright prohibition and treating cannabis possession as a crime, however, it’s still not ideal.

An ideal national cannabis policy involves embracing the emerging cannabis industry to not only save public funds that were previously being wasted on enforcing prohibition, but also to reap the economic benefits of a booming industry such as job creation, stimulating local economies, and public revenue generation via taxes and fees.

To hammer home that point, consider alcohol decriminalization versus a regulated adult-use alcohol industry. Obviously, there’s a major difference between the two, and one is clearly better than the other. The same is true for cannabis in Germany, and beyond.

Consolidation In The German Cannabis Market? “High-Priced Will No Longer Exist”

Written by Johnny Green on August 18, 2021. Posted in Berlin, Business.

Attorney Peter Homberg, partner at business law firm Dentons, spoke with krautinvest.de ahead of the International Cannabis Business Conference about potential changes to medical cannabis prescribing, pending market consolidation, IP-protected forms of application, clinical trials, cannabis IPOs, uniform EU-wide rules for medical cannabis, and more.

Key Facts:

Complex reimbursement practices on the GKV side will be maintained.
A way for exclusivity of own products: Patent forms of application.
Clinical studies: We always experience surprises – the required effectiveness cannot always be proven. A negative outcome can have an impact on the overall market.
In one to two years, the next German cannabis companies will be ready for a successful IPO.
The EU is becoming a supplier market.
We need uniform standards for medical cannabis in the EU.

krautinvest.de: Hello Mr. Homberg. Since March 2017, medical cannabis has enjoyed a special position in the pharmaceutical industry. Flowers and cannabis extracts, not only finished medicinal products, are allowed to be prescribed. Patient:s must be chronically ill and other treatments have been tried beforehand. There is an authorization requirement. Will this process continue in the coming years?

Peter Homberg: We have to look at two processes: First, the issue of reimbursement. And secondly, the documentation obligation vis-à-vis the BfArM: Which patient is prescribed which application with which success?

I assume that the current complex reimbursement practice on the part of the GKV will be maintained. The GKV funds want to check very carefully who receives cannabis as medicine, in order to avoid at all costs that patients who do not fulfill the prerequisite receive cannabis. The documentation obligation will also be with us for a while, as will the fundamentally positive therapy-open approach.

In this context, we should not forget that in 2017 the legal basis for prescriptions via the detour as “Rezepturarzneimittel” was created very quickly. In the initial phase, this led to an incredible reimbursement level of 20 euros or more per gram because of the “pharmacy surcharge” for prescription drugs. In the meantime, we are already experiencing a price erosion – hardly anyone is still selling for the maximum price of 9.52 euros, which has applied since the new price regulation.

krautinvest.de: In the case of cannabis flower, companies are not incentivized to research because there is no or little chance of patentability. In which cases can researching cannabis companies protect their IP and how?

Peter Homberg: There are different approaches by the industry to gain exclusivity for their products. They certainly can’t do that if they are only growing and distributing flower. One way is to patent forms of application – such as inhalation devices or patches, etc. Of course, there is also the option of bringing finished medicines to market. However, this requires extensive clinical trials, and from my many years in the pharmaceutical industry I know all too well that we always experience surprises in the process, i.e. that the required efficacy cannot always be proven. Admittedly, the situation is somewhat different with cannabis; after all, the companion survey already shows that cannabis has a positive effect. Nevertheless, there is a risk that a clinical trial with a negative outcome for one indication may have an impact on the overall market.

krautinvest.de: What kind of investment costs are we talking about here?

Peter Homberg: For a clinical trial with a cannabis product up to the end of clinical phase 2b, sums of between 80 and 150 million are conceivable, depending on the indication. This is less than for other pharmaceutical products, since, for example, no extensive toxicity testing is required. We already know: Cannabis is safe.

krautinvest.de: Some cannabis companies are already looking at an IPO, partly in order to raise such investments. In Canada, we saw share prices plummet after the initial hype. Are German cannabis companies ready for the IPO?

Peter Homberg: The IPO is one of the variants for raising capital for entrepreneurial activities. If I want to research and grow as an entrepreneur, I need capital. For an IPO, however, I firstly need a good and convincing storyline and secondly I need to have proven sustainability. For this, cannabis companies in Germany are on a very good path, but they are still relatively young. I therefore think that in one to two years, the first companies will be ready for a successful IPO.

We have also seen companies elsewhere that have gone public without proving sustainable profit – in Canada, for example. In my view, companies should first demonstrate some form of profitability in order to manage a successful IPO. In addition, a stable and comprehensible business plan should be a matter of course. Ultimately, the crucial question is how big the companies are and how much capital they can raise.

krautinvest.de: There are now around 100 wholesalers in Germany. Will we see more M&A in the future?

Peter Homberg: We will certainly see consolidation in the German market. In perspective, we will not see 30 to 40 distributors for medical cannabis products in the German market. At what prices the cannabis distributors will sell is difficult to predict. However, in my view, the high prices from the early days will no longer exist. I think that in the meantime you have to cut back and it will also only become clear who is willing to buy.

krautinvest.de: And what will change beyond distribution and research?

Peter Homberg: In the short term, we will certainly see one or the other supplier of cannabis flowers and extracts in Europe. I am thinking, for example, of companies from Portugal, Spain, Greece or even Malta. The EU will therefore turn into a supplier market, which could lead to further pressure on current prices. It also remains to be seen how much “German cannabis” will contribute to this.

krautinvest.de: Keyword EU. EU-wide cannabis programs are partly declared superfluous. Entrepreneurs, on the other hand, complain about a highly fragmented regulatory market at the national level. Germany leads the EU by a wide margin. Do we need our own uniform rules at country and EU level for medical cannabis?

Peter Homberg: Absolutely: Yes! We need uniform standards both within the EU and at the national level. Accordingly, in March 2019, a European Parliament resolution was submitted to the Commission to implement a uniform framework for cannabis at the EU level. Currently, the Commission is working on a directive for the harmonization of the European market for cannabis in European countries. This is also urgently needed. Because all member states of the European Union handle medical cannabis differently, which is very unfavorable for the European single market. This is exactly why the European Cannabis Association was founded. At the ECA, we are particularly committed to industry-friendly harmonization.

About Peter

Peter Homberg is a partner in the Dentons Berlin office. He focuses on life sciences, IP, corporate law and M&A transactions in the life sciences and high-tech sector as well as in R&D and cooperation agreements, cross-border IP licensing and IP strategies. Furthermore, he has extensive experience providing legal advice on compliance issues. Additionally, he is the head of the German Life Sciences Practice and European Cannabis sector group. Peter advises inter alia companies in the pharmaceutical, diagnostics, biotechnology, medical device and medical cannabis industries—from startups to large publicly listed companies. Furthermore, he has broad transactional experience in Southeast Asia. Peter is member of the Licensing Executive Society (LES), the German Association for Intellectual Property and Copyright (GRUR), the German Institution for Arbitration (DIS) as well as the Pharma-Lizenz-Club Deutschland e.V. He regularly holds lectures at seminars and conferences. He is the author of numerous professional articles and other publications regarding corporate or IP law in the field of life sciences and medical cannabis.

At the International Cannabis Business Conference, Peter Homberg will give an update on regulatory changes in Europe and Germany regarding medical cannabis at 9:30 a.m. on Thursday, Aug. 26.

This interview was originally published in German on krautinvest.de and is syndicated with special permission: https://krautinvest.de/konsolidierung-im-cannabismarkt-die-hochpreisigkeit-wird-es-nicht-mehr-geben/

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Cannabis May Help Reduce Refractory Chemotherapy-Induced Nausea

Written by Johnny Green on July 21, 2021. Posted in Medical.

According to the World Cancer Research Fund, as many as 18 million people were diagnosed with cancer worldwide in just 2018 alone. It’s a very sad statistic, and will never quantify the pain and suffering that cancer patients have to endure.

Unfortunately, there is no cure for cancer. Cancer comes in different forms, and there are different treatments available depending on the patient’s situation.

A common form of cancer treatment is chemotherapy. Anyone that has endured chemotherapy treatment will be quick to tell you that it is absolutely awful, resulting in all types of side effects including severe nausea.

Fortunately for suffering cancer patients, the results of a new study indicate that cannabis extracts may be able to help reduce refractory chemotherapy-induced nausea. Below is more information about it via a news release from NORML:

The adjunctive use of cannabis extracts significantly reduces symptoms in patients with treatment-resistant chemotherapy-induced nausea, according to clinical trial data published in the journal Annals of Oncology.

Australian researchers compared cannabis extracts (oral capsules containing 2.5mg of THC and 2.5mg of CBD) versus placebo in a cohort of 72 patients with chemotherapy-induced nausea and vomiting (CINV).

Researchers reported that the adjunctive use of cannabis extracts was associated with reductions in patients’ nausea and vomiting, and also with improvements in subjects’ overall quality of life. Although the majority of patients did report side-effects, these effects were largely limited to non-serious events such as sedation and dizziness.

They concluded: “The oral THC:CBD cannabis extract was active and tolerable in preventing CINV, when combined with guideline-consistent antiemetic prophylaxis for a study population with refractory CINV. … Further research is necessary to determine the significance and durability of improvements observed in specific AQOL-8D [quality of life] dimensions.”

Cannabis extracts containing equal ratios of THC and CBD are already available in many countries by prescription under the brand name Sativex. The substance is not legally available in the United States. By contrast, oral synthetic THC, marketed under the brand name Marinol, is FDA-approved in the US for the treatment of nausea and vomiting associated with cancer chemotherapy.