Since February 2016, the use of medical cannabis has been federally legal in Australia. The Australian Government has sole responsibility for regulating the cultivation and production of marijuana for medicinal and related scientific purposes. The manufacturing of, and patient access to, medicinal cannabis products is however a joint responsibility of the Australian Government and the states and territories. The Office of Drug Control (ODC) is responsible for regulating medical marijuana laws and issuing medical marijuana licenses and permits.
With its market dynamics similar to Canada just a few years ago, Australia is emerging as another top choice among speculative investors. According to the Parliamentary Budget Office, legalizing cannabis would reap the Australian economy almost $2 billion a year. Australia’s Green Party is actively pushing for the legalization of recreational cannabis.
The ODC has issued three types of licenses: cultivation or production of medical cannabis, research, and manufacturing of a drug or product. As of July 2018, the ODC has granted 18 medical cannabis cultivation licenses, 10 research licenses, and 13 manufacturing licenses since the process began in February 2017. There is no limit to the number of medicinal cannabis licences that can exist.
Content updated: August 1, 2018.