The legalisation of medicinal cannabis could draw an industry worth more than $100 million in one year and propel Australia forward as a global export leader, a new report by the University of Sydney has found.
Legislation allowing for the cultivation of medicinal cannabis was passed by the Federal Parliament in February and regulations governing production under license are now being drafted.
The University of Sydney’s Business School has released a white paper that reveals the prospect of an emerging multi-million dollar industry centering on medicinal cannabis production and distribution.
“There’s a lot more to a new industry like medicinal cannabis. It’s about more than medical benefits,” study author and associate lecturer at the University of Sydney Michael Katz told The Huffington Post Australia.
“The idea that we may become an export