Cannabiz members have spoken – these were the 50 most-read stories of 2022. The TGA’s advertising crackdown prompted industry-wide panic, deals came and went, peace eventually broke out at Cronos Australia, and the Legalise Cannabis Party had a year to remember…
50. Epsilon future uncertain as half-year losses climb by 94%
Epsilon Healthcare announced a capital raise as it looked to secure its future after a turbulent six months. The firm later raised A$1.65m with chief operating officer Sonny Didugu and former chief executive Jarrod White participating.
49. Cronos executives survive removal vote; company prepares to rebrand
Cronos Australia chief executive Rodney Cocks and executive director Guy Headley comfortably survived an attempt to remove them from the company after shareholders voted overwhelmingly to retain the leadership team.
48. Zelira’s Health House acquisition called off
In June, Zelira Therapeutics’ agreement to buy Health House International was called off after both parties agreed to walk away, blaming the “substantial change in market conditions” since the deal was announced in February.
47. When it comes to evidence, Australia’s medicinal cannabis industry is rising to the challenge
With patient access still hampered by ongoing cynicism from some sections of the medical profession, industry consultant Fiona Wilson looked at the companies doing their bit to prove the doubters wrong.
46. ECS Botanics announces major shake up
ECS Botanics announced the sale of its Tasmanian operation and hemp food and wellness division. A new management structure also saw founder and managing director Alex Keach replaced by executive general manager Nan-Maree Schoerie. Keach became head of corporate relations.
45. What’s behind the cannabis stock market fall?
Cannabiz chief correspondent Steve Jones spoke to industry experts to find out why investors had fallen out of love with cannabis stocks.
44. Cann Group looks to raise another A$10m for Mildura, puts Southern facility up for sale
Cann Group announced plans to raise another A$8 to $10m via a share purchase plan (SPP) to expand GMP manufacturing capabilities at its Mildura facility, while putting its Southern facility on the market. The SPP later raised $8.18m from 1,254 investors.
43. Cronos plots doctor growth as firm eyes A$100m of revenue in FY23
Cronos said increasing numbers of doctors were showing a willingness to embrace medicinal cannabis as it plotted further growth of its CanView platform and targeted revenue of A$100 million in FY23. Writing exclusively for Cannabiz, chief executive Rodney Cocks said “the runway for the entire industry” would be built as more doctors came onboard.
42. Retail pharmacy data shows record number of medicinal cannabis users with Cannatrek leading the way
Data from NostraData revealed a 130% increase in patients receiving medicinal cannabis from pharmacies in the last quarter of 2021, compared to the same period in 2020, while prescriber numbers were up 47% and dispensing pharmacies increased by 35%. Cannatrek led the market with a 25% share.
41. AMCA and MCIA tell industry: ‘put your own house in order’
Two of the industry’s trade associations told the sector it needed to put its own house in order regarding regulatory compliance or risk alienating stakeholders and incurring the wrath of the TGA. Later events proved AMCA and MCIA right.
40. Flower boom continues as imports outweigh exports
Office of Drug Control data revealed Australia was still a net importer of medicinal cannabis, with double the amount of dried flower expected to enter the country in 2022 compared to 2021.
39. Penington Institute: Australia’s cannabis policies are out of date and costing the country a fortune
Harm-reduction organisation the Penington Institute found Australia’s cannabis policies were lagging behind the US, Canada and Germany and costing taxpayers up to A$1.7 billion per year.
38. Ananda Clinics goes local as it seeks to persuade ‘middle Australia’ that cannabis is a medicine
Byron Bay-based Ananda Clinics pledged to only prescribe cannabis from local producers with a proven commitment to medical research in a move to confront the rise of a de facto legal recreational market in Australia. Ananda said its model of care and prescribing practices would seek to change attitudes to cannabis and increase awareness of its therapeutic benefits to an uninformed public.
37. Cann Global set to countersue Medcan as court battle looms
Cann Global confirmed plans to countersue Medcan Australia following the collapse of a three-year-old commercial agreement with each company accusing the other of breaching its terms. Medcan had already lodged a statement of claim with the Queensland District Court seeking A$333,000 in unpaid bills.
36. Power battle looms at Cronos as Jansen family plans second shareholder resolution
Ahead of what threatened to be a tense November AGM for Cronos Australia, the wife of former chief medical officer Dr Ben Jansen lodged her intention to seek her husband’s reinstatement as a company director.
35. Queensland launches drug-driving review
Queensland’s Department of Transport and Main Roads began a review of the state’s drug-driving laws – but it’s not due to be completed until the end of 2024.
34. Administrator appointed to Queensland cultivator as sales fail to cover operating costs
Administrators were appointed to Queensland medicinal cannabis cultivator Tikun Oceana, formerly known as Medifarm, with the company conceding there were not enough sales to cover operating costs. A rescue package was later put together to save the firm.
33. Avecho chief warns of placebo dangers as firms roll out CBD clinical trials
Avecho boss Paul Gavin warned the registration of over-the-counter CBD could be threatened because of the high placebo effect associated with subjective endpoints of clinical trials. He said sleep and pain studies could be at particular risk, with companies needing to demonstrate successful patient-reported outcomes to get products across the line.
32. Albo, can you rule out a cannabis referendum as well please?
Just when it seemed there was nothing more to say about the Queen’s passing, Cannabiz co-founder Martin Lane managed to find a link between the public reaction to it and cannabis legalisation in Australia.
31.‘Our first crop failed, but we learned along the way’
Cannabiz chief correspondent Steve Jones spoke to ECS Botanics’ Nan-Maree Schoerie about the early days of Murray Meds, and why greenhouse growing is no longer sustainable in Australia.
30. TGA’s delta-8 crackdown leaves patients in limbo
Despite there being no official change in policy, TGA confirmation that products containing delta-8 which has been chemically transformed from CBD are not legal in Australia caught some patients, doctors and pharmacists off guard. Delta-8 products had been available since late 2021 through the Special Access Scheme.
29. Two studies find cannabinoids could help end the pandemic
Research programs in the US and Canada suggested cannabinoids could prove crucial in the battle against Covid-19. In hindsight, our headline was perhaps a little overwrought.
28. What the TGA’s medicinal cannabis list really tells us
Following its shake-up of the Special Access and Authorised Prescriber schemes, the regulator published a list of medicinal cannabis products in Australia, categorised by active ingredients. Rhys Cohen delved into the detail to put the list into perspective.
27. Three cannabis firms hit with fines of A$1m after 73 alleged advertising breaches
In what became the biggest story of the year, Little Green Pharma, Cannatrek and MGC Pharmaceuticals were hit with a combined 73 advertising infringement notices and fined close to A$1m by the TGA.
26. Most patients still using illicit cannabis, but prescription numbers soar
The Lambert Initiative’s CAMS20 survey found most Australian patients were still self-medicating with illicit cannabis, although numbers accessing prescription products had risen dramatically.
25. Left and right unite in vote to legalise cannabis
Legalise Cannabis Australia’s stunning result in the federal election was built on strong support from the regions – and preference votes from some unlikely quarters. Cannabiz spoke to the party’s election guru Craig Ellis to bust a few myths about the cannabis vote.
24. SAS-B figures show patients are getting younger, ‘maler’ and more anxious
We took a deep dive into the TGA’s medicinal cannabis access data dashboard to find out what happened during the first four months of 2022. The data showed patients were getting younger, ‘maler’ and more anxious, though their preference for flower was not enough to knock oil off its perch.
23. Montu launches probe into Reddit allegations
Montu launched an internal investigation after a Reddit poster alleged the firm was offering free services for product reviews in contravention of TGA regulations.
22. Five cannabis industry trends to look out for in 2022
At the start of 2022, our then editor-at-large Rhys Cohen made his predictions for the year ahead. But how did our resident soothsayer get on?
21. It’s been a long road, but Cann Group’s Mildura gamble might be about to pay off
Rhys again, visiting Cann Group’s much-talked-about cultivation facility in Mildura. He liked what he saw. In fact, he liked it so much, he later joined the company.
20. Cannatrek withdraws flower batch following complaints from patients
Cannatrek withdrew a flower product imported from Israel following a spike in complaints.
19. Zelira to acquire medicinal cannabis distributor Health House International
Zelira Therapeutics announced plans to acquire medicinal cannabis distributor Health House International in February. When the deal later collapsed, Creso Pharma stepped in to buy the company in an all-scrip deal valued at A$4.6m.
18. ANTG-Asterion merger hits the rocks but Canadian firm chases fresh Australian deal
A deal between Australian Natural Therapeutics Group and Vancouver-based Asterion to build one of the largest medicinal cannabis facilities in the world collapsed after both companies walked away. The firms had planned to join forces to build a A$400m facility in Toowoomba, Queensland producing more than 500,000kg of cannabis a year and creating 1,000 regional jobs.
17. Companies behind Tikun Oceana rescue revealed
Cannabiz revealed two companies were behind the deal to save Tikun Oceana, including one which partially owns the soon-to-launch Islamic Bank of Australia.
16. How to interpret the TGA’s Authorised Prescriber figures
Following the release of the TGA’s medicinal cannabis authorised prescriber data dashboard, Rhys Cohen dived into the numbers and came up with one overwhelming conclusion – the industry is booming.
15. Yes we cann! Our definitive guide to the cannabis policies of those who want your vote on Saturday
Ahead of the federal election in May, Cannabiz contacted every party with candidates to assess exactly where they stood on cannabis issues. Some were more forthcoming than others.
14. No sales, no funds, no investors: administrator lifts lid on Tikun Oceana turmoil
In a report which lifted the lid on Queensland cultivator Tikun Oceana’s dire finances, administrator Cor Cordis – appointed by Tikun in July – found a company with surplus product, negligible sales and no funding after shareholders withdrew their backing.
13. Althea launches soft-gel capsule and high-THC flower to ‘meet patient needs’
Althea launched a CBD soft-gel capsule and an “ultra-high” THC dried flower in response to shifting dosage trends and to meet patient needs. The firm said the capsule, manufactured by FoliuMed, would be suitable as an over-the-counter product.
12. CDA Health co-founder plots move to oust Rodney Cocks and Guy Headley from Cronos board
Co-founder of CDA Health Dr Matua Jansen filed his intention to seek the removal of Cronos chief executive Rodney Cocks and director Guy Headley from the board. The move was the first of a few board ructions at the company, but failed to get up at its November AGM.
11. Drug-driving bill voted down in NSW
The Liberal-National and Labor parties voted down the NSW Greens’ bill to amend the state’s drug-driving laws. Introduced by MP Cate Faehrmann, the measure would have provided medicinal cannabis patients with a defence against drug-driving charges if they were not impaired and had taken their medicine as prescribed at the time of the offence.
10. Battle lines drawn as details emerge of feud between Cronos and CDA founders
More details emerged of the feud between Cronos Australia and members of the Jansen family who co-founded CDA Health as both parties prepared for a tense shareholder meeting in November.
9. Flower battle hots up as Little Green Pharma brings three high-THC strains to Australia
LGP landed three new high-THC cannabis flower products in Australia from its Danish facility as the battle for market share intensified in the local market.
8. ‘It’s not legal in Australia’: TGA boss pulls no punches on delta-8 THC
TGA boss John Skerritt did not mince his words about delta-8 THC. While acknowledging the contentious compound does appear naturally in cannabis plants in tiny amounts, Skerritt reminded the industry that products containing delta-8 which has been chemically transformed from CBD were not legal in Australia.
7. Cannabis risks becoming a ‘borderline supplement’ unless it evolves, warns Emyria chief
Emyria chief executive Michael Winlo told Cannabiz that medicinal cannabis would remain on the fringes of the medical world unless more companies were prepared to invest in drug registration and product innovation. Winlo said the industry had become stuck in “medicinal cannabis 2.0” and had failed to evolve.
6. Hi-tech Victorian facility will ‘raise the cannabis cultivation bar’
Melbourne-based Gemkom said it expected to begin construction of a 20-tonne capacity cultivation facility in regional Victoria next year with the firm vowing to create one of the world’s most technologically advanced growing operations.
5. Several cannabis firms under ‘active investigation’ as TGA pledges to maintain tough stance on industry
After handing out nearly A$1m in fines to three firms for alleged advertising breaches in September, Cannabiz exclusively revealed the TGA had more firms in its sights with a number of licensed medicinal cannabis companies and clinics under investigation. The industry was warned to expect further heavy fines if it failed to adhere to advertising regulations – and a few weeks later, that’s exactly what came to pass.
4. Cannatrek quits AMCA after facing suspension for alleged advertising breaches
Cannatrek resigned from the Australian Medicinal Cannabis Association – just before its membership was suspended – as the fall out continued over the record fines handed out by the TGA for alleged advertising breaches.
3. TGA defends itself as fines backlash gathers pace
The regulator had to defend itself against a growing backlash after imposing more heavy fines for alleged medicinal cannabis advertising breaches. The crackdown caused widespread panic in the industry, with companies across the sector anxiously scrutinising their websites, social media presence and other marketing material for examples of non-compliance.
2. TGA issues more heavy fines as advertising crackdown gathers pace
A few weeks after dolling out fines of almost A$1m, the regulator followed up by issuing penalties totalling more than A$250,000 to two companies running clinics and an unnamed GP.
1. Industry told to ‘wake up’ as TGA finally bares its teeth in cannabis advertising crackdown
The industry was told the TGA crackdown should be a ‘wake-up’ call after the regulator finally bared its teeth in its fight to stamp out alleged illegal advertising. Teresa Nicoletti, a partner at law firm Mills Oakley, told Cannabiz: “The industry appears to have had the [false] impression that the TGA was turning a blind eye to medicinal cannabis advertising or was focused on other areas. The issuing of these hefty fines now demonstrates otherwise.”
