The Australian Therapeutic Goods Administration has issued 73 infringement notices worth $972,360 to 3 licensed medical cannabis companies.
The near million dollar compliance action was taken because the companies have allegedly promoted the use of prescription only medical cannabis products, (including their own branded lines) that are unapproved medicines and not listed on the Australian Register of Therapeutic Goods (ARTG).
It has also been alleged that the unlawful advertising included unapproved references to the treatment of serious diseases or conditions, including in some cases cancer and epilepsy. Further, some advertising allegedly suggested or implied that particular medicinal cannabis products were recommended or approved by a government authority.
The TGA release notes that advertising of prescription-only medicines directly to consumers undermines the doctor-patient relationship and may create an inappropriate demand for particular medicines which may not be right for the individual.
The three companies named in the TGA release are:
- MGC Pharmaceuticals (ASX:MXC) (23 notices, $306,360)
- Cannatrek Ltd. (22 notices, $293,040)
- Little Green Pharma (ASX:LGP) (28 notices, $372,960)
MGC has issued a statement to the market.
Little Green Pharma has also issued a statement.
No statement from Cannatrek is visible on their website or twitter a/c. (1:00PM ACST 28/9/22)