Tuesday, December 06, 2022

Australia fines medical cannabis companies $1 million for fraud

Australia fines medical cannabis companies $1 million for fraud

The Australian Therapeutic Goods Administration (TGA) has issued 73 penalties to three medical cannabis product companies for deceptive advertising. The companies MGC Pharmaceuticals Ltd, Cannatrek Ltd and Little Green Pharma Ltd. We have collectively been fined $972,360 for promoting their products with false or unsubstantiated claims about their medicinal properties.

According to Guardian, The TGA has pointed out that the restrictions imposed are due, on the one hand, to the fact that companies advertise medical cannabis products to the general public, an illegal practice because they are drugs that are accessible only by prescription. On the other hand, TGA has explained that these companies ran advertising campaigns in which they claimed that their products could cure some serious diseases, something which is also illegal.

“Some advertisements allegedly suggested or implied that a government authority recommended or approved certain medical cannabis products,” the TGA said in a statement. “The use in advertisements for claims of a serious illness or condition is also illegal without the explicit permission of the TGA as there is a particularly vulnerable group of Australian consumers experiencing a serious illness or condition.”

In Australia, medical cannabis is often used as a form of treatment when other available drugs or treatments have already failed. Depending on the disease, “the quality of the evidence varies and in some cases it is inconclusive or insufficient to suggest any benefit to patients,” Professor Karen Price, President of the Royal College of Australian Physicians, said in remarks. Guardian,

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