Australian medical cannabis prices drop 11% in a year

Data from Canview's online portal has shown that despite the high prices of medical cannabis in Australia, end costs to patients are slowly coming down.

Canview is a platform developed by Burleigh Heads Cannabis for patients, pharmacists, and medical practitioners to prescribe and order cannabis medicines. Information released on July 6th showed more than 95 cannabis products available, a huge jump from the 46 available in August last year.

Comparing the two periods reveals 29 products were available during both reports.

[table id=9 /]

Note that the prices are 'Price to Patient' and are only recommended prices. Individual pharmacies may charge different prices.

The drop in prices can be explained by a number of factors such as the market becoming more competitive, as companies age and their industry experience grows they become more efficient at producing their products - lowering the cost of manufacturing, and changes in licensing regulations are reducing the administrative burden on companies.

Medical cannabis' high price tag has received constant criticism with some patients reportedly paying upwards of $380 per month. This is leading to thousands of Australians still turning to the black market to source their medication, even with the recent warning from the Australian Border Force that any illegally imported CBD medicines will be seized and those who import them 'may be prosecuted'.

Australian born-and-bred NimbinCann is one of the few companies looking to vastly reduce the cost to Australian patients by producing medical cannabis in regions where manufacturing costs are up to 94% lower.