Medicinal cannabis companies have mixed feelings about referendum outcome

By November 11, 2020 Recent News

Radio NZ News 11 November 2020
A medicinal cannabis company is relieved the referendum went up in smoke, saying more research into the drug is needed.

Meanwhile, other companies are disappointed in the result but they say the result won’t shake their business too much.

The cannabis referendum recently flopped by a slim margin – 50.7 percent of New Zealanders said no, but 48.4 percent supported the legalisation of recreational cannabis.

Doctors can already prescribe medicinal cannabis, but New Zealand companies are still developing products for use.

The first MedCan summit took place yesterday, drawing dozens of industry members to Auckland’s Aotea Centre.

Among those attending the summit was Greenlab director Parmjit Randhawa.

Greenlab, a Christchurch-based medicinal cannabis company, is aiming to make its market debut next year.

Randhawa was glad that the referendum failed to pass, as he did not think there was enough research on the active compounds in cannabis, or consistent results from clinical trials.