Long gone are the days of strict marijuana enforcement as it continues to gain favorable reception in many parts of the world. Uruguay made history as the first country to legalize marijuana back in 2013, in an attempt to combat criminal activities by limiting how much could be grown, produced, and distributed across the country.
Following legalization, crime has decreased and has remained so in Uruguay, while also providing health benefits to those who can benefit from the healing properties that have been discovered in THC, the cannabinoid found in marijuana.
Since that landmark decision, Canada became the very first G7 country to legalize marijuana, joining Uruguay as the second overall nation to permit recreational use. The momentum continues to rise as other countries are slowing pivoting on their stance towards medicinal or recreational use of marijuana.
Marijuana continues to remain illegal in South Korea, but with increasing calls supporting medicinal marijuana as well as CBD for those suffering from various ailments, it seems that may very well change. Korea’s Ministry of Food and Drug Safety aims to make changes to the Act on the Control of Narcotics, allowing for the importation of select drugs that contain marijuana, all of which have already been approved for medical use internationally.
If passed, this would make South Korea only the second country to allow medicinal marijuana, alongside Israel. Korea’s Ministry stressed that this new law would only allow for the use of internationally approved cannabis drugs such as Sativex, which is used for the treatment of seizures. Epidiolex is another cannabis drug that has been proven to be effective with rare disorders such as Draven’s syndrome or Lennox-Gastaut syndrome.
Other drugs that will be allowed if the bill is passed are Marinol, which helps with anorexia in AIDS patients, and Cesamet, a medicine used for cancer chemotherapy patients suffering from nausea or vomiting. South Korean patients would need a proper prescription and are required to apply to the Korea Orphan Drug Center, which manages the access of rare medicines for patients.
South Korea may become the second Asian country to green light medicinal marijuana (Photo by Lee_seonghak via Pixabay.)
The Korean Cannabis Association has already secured a source of medical cannabis through Tikun Olam, Ltd. and York Bridge Capital. Israel-based Tikun Olam, one of the global leaders in cannabis, has become the very first to commercialize medicinal marijuana that was studied and tested thoroughly. Canadian private equity firm York Bridge Capital are experienced advisers in both medical and recreational cannabis matters.
Patience is the key
India is another country that is experiencing some changing winds in the medicinal marijuana industry that is represented by a single licensed cultivator: Bombay Hemp Company. Co-founder Avnish Pandya cited the collaboration with legislators to showcase the healing properties that marijuana possessed through science and data as the key to growth in the sector.
With India being limited to the growth of medicinal marijuana solely for scientific purposes, marijuana is not yet accessible by patients who could benefit enormously from it. Ratan Tata, chairman emeritus of Tata Sons, and Google India Managing Director Rajan Anandan are among the notable investors behind Bombay Hemp Company, illustrating the potential it has for leading the industry into a new era.
They are currently growing around 20 different strains in a 1 acre-boundary, with a proposal for a neurological trial and another for oncological purposes. With a pharmaceutical infrastructure strongly in place, consistent testing and results will be part of the initial steps in a long term approach.
Pandya believes it will take at least 1.5-2 years for medicinal marijuana to have the accomplished results needed to push forward, but with proposed trials potentially on the horizon, it appears as if they are on the right track.
Capitalizing on a profitable plant
Back in the 1980s, Thailand was one of the premier exporters of marijuana. Despite their strict policies regarding regulation, the country is eyeing the profitable industry as the Government Pharmaceutical Organization continues to pursue approval from the military government to market medicinal marijuana.
The Thai government’s cabinet of ministers agreed to amend drug laws in order to permit medicinal marijuana testing to gauge its effectiveness on humans. The bill is expected to pass up to nine months before official legislation, which would make Thailand the first country in Asia to legalize medicinal marijuana.
Bangkok Dusit Medical Services PCL, Thailand’s largest network of private hospitals, is situated to promote the research and development of medicinal marijuana once legislation is official. They and other hospitals will become eligible to apply for licenses and perform testing of cannabis as the country gears up to join the highly competitive industry.
While progress continues for medicinal marijuana around the world, CBD, or cannabidiol, continues to make headway as a non-psychoactive alternative to marijuana. Like THC, it is one of the main cannabinoids in cannabis which provides the powerful recuperative capabilities that the plant is known for.
PotNetwork Holdings, Inc.(OTCMKTS:POTN) is one of the premier players in the sector, with a vast lineup including quality CBD products such as Chill Gummies and Liquid Gold Vaping products. Their state of the art extraction process ensures the production of optimum quality CBD oil that is available in a variety of products to cater to an ever-growing consumer base.
With CBD providing a major assist for those suffering from seizures and various disorders, POTN continues to facilitate healing in patients while medicinal marijuana legislation continues to see positive movement. It seems to be a matter of time until medicinal cannabis is fully unleashed, promoting healing on a bigger scale than ever for those suffering from major ailments like cancer and epilepsy.