Industry news, page-892

• Cannabis stocks could rise after the removal of US House Speaker
• Montu says TGA has to allow the term ‘medicinal cannabis’ to be used
• We look at the best performing ASX weed stocks over the past month

Some experts believe cannabis stocks have finally hit their floor and are now poised for unprecedented growth.

One of the catalysts, they say, is the removal of Republican Kevin McCarthy as the speaker of the US House of Representatives last week.

McCarthy has a long record of opposing cannabis, both medical and adult-use, going back to his days in the State Assembly.

Experts believe his removal as House speaker could expedite safe passage of the Secure and Fair Enforcement Regulation (SAFER) Banking Act, which is expected to make the Senate floor for a vote in the near future.
The SAFER legislation will allow all US cannabis businesses to have access to deposit accounts, insurance and other basic financial services.

Meanwhile back home, Australia’s plant medicine company, Montu, says it has submitted two proposals to the TGA, urging the regulator to amend its advertising guidelines to allow the use of the term ‘medical cannabis’.

At present, TGA guidelines do not permit the use of the term, which is causing confusion and uncertainty for patients, says Montu.

Christopher Strauch, Managing Director of Montu, believes that the use of plain English is critical to patient awareness and informed decision-making.

“Medical cannabis should be used as a term to speak plainly.

“This is firmly in the patient interest and aligns with the TGA’s own plain English guidelines – two of the many key issues we have outlined in our submission,” he said.

Strauch added that as a leading voice in the industry, Montu is advocating for a commonsense approach to the issue.

“With over a million prescriptions provided to Australians for medical cannabis products, this is no longer a fringe issue.”
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