Medicinal cannabis had a difficult 2024 — battered financially and reputationally by a series of challenges. On the brighter side, the market kept growing and some progress was made in the long-running fight against discrimination on the roads. Here is a rundown of the 50 stories that attracted the most readers during the year.
50. Health bodies urge TGA to remove medical cannabis from SAS as 'alarm' grows over 'highly potent' THC
As 2024 wound down, the attacks on medicinal cannabis — a recurring theme throughout the year — intensified. Queensland representatives from the AMA, the Royal Australian and New Zealand College of Psychiatrists (RANZCP) and the Pharmacy Guild of Australia co-signed a letter to the Therapeutic Goods Administration (TGA) raising concerns about climbing prescription numbers in the state and calling for cannabis to be stripped from the Special Access Scheme (SAS).
49. Hope for patients as legal defence edges closer for unimpaired drivers
Drug-driving laws continue to penalise medicinal cannabis patients, and there is no immediate fix in sight. In Victoria, though, the Labor Government showed some forward thinking by agreeing to examine the possibility of a legal defence against a mandatory ban for drivers who test positive solely for THC presence.
48.SAS-B deep dive: more women turn to flower and anxiety on the rise as cannabis sands continue to shift
THC-only products accounted for close to half of all medicinal cannabis products in 2023, while figures showed a growing number of women were choosing flower products and approvals for anxiety-related conditions continued to climb.
47. Vitura seeks legal intervention after tech partner threatens to derail CanView operations
In late April, the already-strained relationship between Vitura Health and Code4 Cannabis — the software company underpinning the CanView platform — took a sharp turn when C4C threatened to shut the system down with almost no warning. Vitura responded by rushing to court to seek an injunction.
46.No imported products tested since new GMP rules came into force, TGA admits, as MCIA calls for meeting
In February, the TGA confirmed what domestic producers had long suspected. Since reforms introduced the previous July — designed to hold imported products to the same quality standards as locally manufactured medicine — the regulator had not tested a single overseas-made product.
45. Biortica joins forces with outspoken industry critics to explore 'ways we can do things better'
Biortica Agrimed CEO Tom Varga explained his decision to partner with outspoken industry critics by saying it was far better to have them sharing their expertise from inside the tent than lobbing criticism from outside it.
44. PharmaCann warns industry over 'misinformation and libellous propaganda' amid Cookies dispute
While embroiled in a legal dispute with US cannabis giant Cookies, PharmaCann put the industry on notice that anyone making disparaging remarks or implying wrongdoing on its part could expect legal consequences.
43. Releaf creditor claims hit $7.5m as fall out continues from firm's collapse
When Releaf Group called in administrators, its bank accounts were found to be empty. Unsecured creditors, if they had not already come to the conclusion themselves, soon understood they had little prospect of recovering their money after the company's collapse.
42. Cannatrek named in cash-for-scripts controversy as AMCA highlights 'good work' done by doctors
TV program A Current Affair aired a second damaging story on medicinal cannabis, this time accusing Cannatrek of paying doctors to write prescriptions for its products. Cannatrek declined to disclose commercially confidential information but indicated it did provide financial compensation to doctors in exchange for information to support its research.
41. Industry in the spotlight as regulators unite to explore rise in prescriptions
Health regulators and medical bodies convened in Melbourne to examine the growth in prescriptions, a development that fuelled speculation that new rules targeting inappropriate practices might not be far off.
40. Founder of telehealth clinic banned from dispensing cannabis
Adam Younes, founder of Dispensed, was prohibited by the Australian Health Practitioner Regulation Agency (AHPRA) from "supply, administer, handle, dispense or check" medicinal cannabis following a regulatory investigation. It was later alleged that a patient prescribed medicinal cannabis by a Dispensed doctor had been living with psychosis and died by suicide.
39. Tasmanian Botanics, Kind Medical and Biortica Agrimed win big at the Awards 2024
In May, industry figures gathered in Melbourne for a sold-out awards ceremony celebrating standout performers in the sector. Tasmanian Botanics claimed Company of the Year honours, while Biortica Agrimed CEO Tom Varga was named Business Leader of the Year.
38. Awards 2024 launch with new categories, new judges and a two-stage judging process
The process of identifying the best in the cannabis industry kicked off in February with the formal launch of the 2024 awards program. Several new categories were introduced, among them Best Use of Technology and Nurse of the Year.
37. TGA suspends injunction action after Montu removes promotional material
The health regulator dropped its push to compel Montu to remove what it considered advertising material after the company took pre-emptive action to do so. The underlying case, however, is still proceeding and is due back in court in May. Montu denies the allegations.
36. Vitura set for strategy reboot in bid to stem profit and margin decline
Following a poor financial performance in FY24, Vitura Health — now under new chairman Robert Iervasi — unveiled a 'strategy reset' that included entering new verticals, hiring fresh senior leadership, and improving customer retention rates.
35. SAS-B deep dive: half-year data illustrates shifting sands as monthly approvals hit almost 20,000
An analysis of the January to June SAS-B data uncovered several emerging trends, including rising approvals for anxiety, sleep disorders and depression, alongside falling numbers for chronic pain. The growing tendency to prescribe cannabis for anxiety concerned some experts who said the evidence base is thin.
34. Montu to offer Birchal investors up to $14m in share buy-back pay day
Minority shareholders in Montu — those who had invested through two Birchal crowdfunding campaigns in 2020 and 2021 — were given the opportunity to offload their shares at a significant premium. The way the offer was structured and the limited information provided to shareholders drew criticism and eventually triggered intervention from the Takeovers Panel.
33. Cannabis seeing 'explosive growth' but data reveals sales dogfight beyond the market leaders
Data provided in February by research firm NostraData confirmed what was widely expected: the market recorded strong growth in 2023. But it also showed that outside the leading players, a large number of companies were competing fiercely for a relatively small slice of the business.
32. Industry fears grow as health bodies urge TGA to call time on Special Access Scheme
Industry figures pushed back against a push by medical bodies to remove cannabis from the Special Access Scheme. While acknowledging some of the concerns raised in the joint letter from the AMA, RANZCP and Pharmacy Guild, they argued that such a move would simply push patients back toward the illicit market.
31. Cannatrek and Montu bury hatchet with new distribution deal
Following a very public falling out in 2023, industry heavyweights Cannatrek and Montu resolved their differences in May by signing a new distribution agreement. Those watching from the sidelines noted the deal appeared to be in the interests of both companies.
30. Dolphins' Alternaleaf blackout piles more pressure on Montu amid TGA legal action
Montu's bold, if contentious, sponsorship arrangement with the Dolphins NRL team began falling apart after Alternaleaf branding was pulled from stadiums and players' jerseys on TGA advice. The deal was ultimately terminated due to "challenges with regulators".
29. Montu admits 'level of risk' with NRL deal but insists pushing boundaries will 'normalise the conversation'
Before the TGA advised the removal of Alternaleaf branding from public-facing Dolphins platforms, Montu acknowledged the deal carried some compliance risk. Even so, vice president Rhys Staley argued the company had an obligation to be disruptive and innovative in ways that would help de-stigmatise the medicine.
28. Optimism turns to concern as Cann Group battles financial uncertainty
Cann Group endured another difficult year, hitting a low point in March when an auditor raised doubts about the company's financial viability. Trading in its shares was suspended following the report.
27. Releaf Group and Botanic Wellness among six firms hit with TGA fines
In June, the TGA showed it was prepared to act, issuing combined fines of A$630,000 to six medicinal cannabis companies over alleged advertising breaches. Releaf Group, Botanic Wellness and Cymra Life Sciences were among those in the regulator's sights.
26. Growers' worst nightmare: Hop Latent Viroid detected in Australia
Hop Latent Viroid — long feared by cannabis cultivators — was confirmed in Australia, with hundreds of cases identified at Green Farmers' growing facility in Victoria.
25. Montu reports stunning FY24 result but warns growth may slow amid regulatory challenges
Montu's strong 2023 performance looked modest by comparison when FY24 figures landed. Revenue surged 173% and profits rose 310%. The company did caution, however, that growth might moderate if regulators chose to restrict access to medicinal cannabis as widely anticipated.
24. They don't like telehealth, they don't like medicinal cannabis: Authorised Prescriber tells of medical board hearing following NSW crackdown
Authorised Prescriber Dr Sara McDonald, caught up in the NSW investigation into prescribing practices, described her experience appearing before regulators in July, saying it could push her out of medicine entirely. McDonald later joined a roadshow organised by Medical Cannabis Australia aimed at providing clearer guidance around prescribing rules and regulations.
23. New compliance chief puts 'high-volume, high-speed' clinics on notice as efforts begin to clean up industry
Jason McHeyzer, head of the newly established Rapid Regulatory Response Unit (RRRU), said in an interview that cannabis companies operating within the rules had nothing to fear. Those providing fast, high-volume access to medicinal cannabis, however, were put on notice that a visit from regulators could follow.
22. RACGP bans medicinal cannabis firms from exhibiting at national conference
The Royal Australian College of General Practitioners (RACGP) barred cannabis companies from exhibiting at its national conference — a decision widely seen as reinforcing the stigma attached to the medicine. The RACGP resisted the word "ban", even as it told excluded firms the "nature of your business does not reflect the current position of the RACGP".
21. Releaf Group asks shareholders to help foot legal bills
With its financial position deteriorating, Releaf Group turned to shareholders in an attempt to raise $2.5m, a portion of which was earmarked for a "legal fighting fund" to pursue unspecified legal action against unnamed parties. Within days of releasing the offer, the company appointed administrators.
20. New compounding guidelines signal 'willingness of regulator to enforce the rules', pharmacists are warned
The Pharmacy Board of Australia's updated compounding guidelines — which explicitly referenced medicinal cannabis for the first time — caused initial confusion. While the substantive rules appeared largely unchanged, the specific mention of cannabis was interpreted as a signal that the regulator was alert to issues in this area and prepared to act on them.
19. Coming up trumps: how Australian patients are reaping the rewards of a $50 bet
The path that led Matt Shales to founding MediCann Health could have taken a very different turn. In January, he described in an interview how a trip to the casino set the business in motion.
18. Cann Group CEO Peter Koetsier steps down
After just over a year leading the company, Peter Koetsier announced his departure from Cann Group.
17. 'It's just another brand': Medcan subsidiary distributes Snoop Dogg product in Australia
Medcan subsidiary Greensaver Distribution was identified as the company bringing rapper Snoop Dogg's products to the Australian market. Questions were raised about whether the products were targeting a quasi-recreational audience. Medcan described it as "just another brand" in a crowded field.
16.'Medical cannabis is my livelihood, my passion. But they have destroyed it. It's been traumatic'
As NSW prescribers braced for regulatory scrutiny, one prescriber described feeling "violated" as investigators examined her prescribing practices and clinical decision-making.
15. The 'new' compounding rules are just plain common sense
Lawyer and Australian Medicinal Cannabis Association (AMCA) chair Dr Teresa Nicoletti broke down the 'new' compounding guidelines, making the case that they simply articulate what the industry should already know and already be doing.
14. Ananda Clinics founder Dr Jamie Rickcord to step away from industry
Dr Jamie Rickcord, one of the sector's most visible advocates, announced he was leaving the medicinal cannabis industry, citing the emergence of a pseudo-recreational market as one of his reasons for going.
13. Awards 2024 shortlist revealed
After a two-stage judging process, the 2024 awards shortlist was announced. Biortica Agrimed/Green Farmers, Astrid, Tasmanian Botanics and Cann I Help/Medcan Australia received the highest number of nominations.
12. Draft THC guidance set for release following NSW prescribing crackdown
Against the backdrop of the NSW regulatory crackdown, senior doctors with Cannabis Clinicians Australia (CCA) developed guidelines for prescribing cannabis to patients with substance-use disorder.
11. A revolving door of senior staff: what's behind the turbulence at Cannatrek?
Even before Cannatrek's FY24 results became public, signs of internal strain were evident. A string of redundancies, the dismantling of a female-led executive team, declining staff morale and questionable business plans all came to light, adding to the pressure on then-CEO Tommy Huppert.
10. Releaf Group: receivers appointed to chase debt for law firm as administrators called in by board
Releaf Group's financial difficulties ultimately proved fatal for the business. As it entered voluntary administration — owing millions and leaving franchisees without support — a secured creditor further complicated the situation by appointing receivers to recover a $1.3m debt. The fallout looks set to extend into 2025 following a fractious creditors' meeting last month.
9. Mystery over Turkish seizure of 100kg of medicinal cannabis bound for Australia
Turkish authorities seized an Argentinian shipment of medicinal cannabis that was headed for Australia, leaving local importer Cannabas to work through a complicated web of narcotics and terrorism agencies to resolve the situation.
8. Medicinal cannabis in the crosshairs as AHPRA sets up 'rapid response' taskforce
Months of damaging coverage over inappropriate prescribing and closed-loop business models finally spurred the Australian Health Practitioner Regulation Agency (AHPRA) into action in October. It created the Rapid Regulatory Response Unit to investigate and police alleged misconduct in the medicinal cannabis sector, among other functions.
7. Pressure grows on Releaf Group as court cases mount and doctors down tools over unpaid wages
Releaf Group, one of the earliest operators in the clinic space, began its final unravelling when it was exclusively reported that legal claims against the firm were piling up and doctors had stopped working due to unpaid wages.
6. Australia cited as 'world's fastest-growing medical market'
The year opened on an upbeat note when Prohibition Partners named Australia the world's fastest-growing medicinal cannabis market in January. The firm credited the growth to patient demand and a regulator it described as "understanding of that need".
5. Cannatrek profits wiped out as costs soar
Cannatrek had posted an outstanding FY23 result, which made FY24 all the more striking for the wrong reasons. Shortly after a $9m loss was announced — compared with a $14.5m profit the year prior — CEO Tommy Huppert departed, taking on a brief to develop the company's nascent operations in Japan.
4. Montu financials reveal scale of growth as revenue and marketing costs rise
When Montu's FY23 financial results appeared in May, they confirmed what many had expected: the company's aggressive marketing approach paid off handsomely, delivering substantial gains in both profit and revenue. FY24 went even further.
3. Cannabis executive salaries: who earned what in FY24
Leading a cannabis company comes with considerable pressure — and, in many cases, a considerable pay packet. Executive remuneration disclosures from listed companies were examined to find out just how much those at the top were taking home — and in some cases, how little.
2. Industry reacts as trial-by-TV on unethical prescribing splits opinion
Dr James Stewart appeared on A Current Affair in May alleging that doctors were accepting cash in exchange for writing prescriptions. Dr Stewart said he had "no regrets" at speaking out and was motivated by a desire to clean up the sector.
1. Cannabis prescribers caught up in crackdown by NSW health regulator
Doctors and pharmacists across New South Wales found themselves in the crosshairs of a regulatory unit within the health department that came knocking as part of a broad crackdown on prescribing and dispensing practices. Many viewed it as a witch hunt, and the consequences for those caught up in it were severe.
