These 11 conditions were just recognised for cannabis treatment by a major US State
The use of marijuana to treat medical conditions just got a big boost with the recognition of 11 new medical conditions for cannabis treatment by a major US State.
Michigan has become one of the most progressive US States for cannabis regulation after adding 11 new medical conditions to its official cannabis treatment list.
That’s good news for ASX-listed cannabis stocks which have been sold down this year and were last week buffeted by a University of NSW study that found little evidence to support the use of cannabis for chronic pain relief.
The ASX’s 25-or-so cannabis stocks have lost ground despite a stream of mostly positive news about the drug’s legalisation for medical and recreational use around the world — especially in Canada where a number of ASX cannabis plays have operations.
>> Scroll down for a list of ASX pot stocks showing their six-month performance
Medical cannabis is now permitted in 30 US States after Oklahoma legalised medical marijuana last month. Of these, nine States and Washington DC have legalised marijuana for recreational use.
In today’s news, Michigan — which has a population of 10 million — became one of the most progressive marijuana States in the US after licensing authorities officially added 11 new medical conditions that can be treated with cannabis drugs.
The conditions are:
“With the changes in State law to include marijuana-infused products, and the advancement of marijuana research, and upon the recommendation of the panel members, I’ve added these eleven conditions to the approved list,” said Michigan’s licensing and regulatory director Shelly Edgerton.
Michigan already recognises these medical conditions for cannabis treatment:
It’s worth noting Michigan’s Medical Marijuana Review Panel rejected applications for another 11 conditions:
Here’s a recent table of ASX-listed pot stocks showing their six-month performance at June 21: