NZ's medicinal cannabis ecosystem hopes to harvest value-add opportunities
This image was generated by AI and may not depict real events.
New Zealand's medicinal cannabis industry is struggling to grow due to regulatory challenges, with several companies shutting down, including Helius Therapeutics, which is set to close its factory. Industry leaders are calling for regulatory changes to enable more on-shore processing and value-added manufacturing.
New Zealand's medicinal cannabis sector is facing challenges, with Helius Therapeutics set to close its East Tāmaki factory, affecting 65 workers. The industry is struggling to keep value-add manufacturing on home soil, with most producers lacking specialist processing certification. The Medicinal Cannabis Council is calling for regulatory changes to enable more on-shore processing, which would give doctors more product options for patients and improve competition. Currently, most medicinal cannabis products are imported, with Canada being a major supplier. Rua Bioscience, a NZX-listed company, has pivoted towards exports, focusing on genetic innovation and international partnerships. Industry leaders hope that regulatory changes will help the industry grow and reduce reliance on imports.
This content was automatically generated and/or translated by AI. It may contain inaccuracies. Please refer to the original sources for verification.