Categories Health Care, U.S. Markets News
Thailand legalizes medical use of cannabis, opens up a new region for pot stocks
After Uruguay and Canada, Thailand has now amended its drug law to legalize marijuana for medical purposes. However, unlike the other two counties, legalization does not apply to recreational use.
After the parliament voted to push the bill, one of its lawmakers called it a “New Year gift to the Thai people.”
Ironically, South East Asia is a region that prescribes the toughest penalties for drug-related offenses. In Indonesia, Singapore, and Malaysia, weed-related offenses may lead up to capital punishment.
This is great news for companies involved in medical marijuana research including Tilray (TLRY), Canopy Growth (CGC), Aphria Inc (APHA), Innovative Industrial Properties (IIPR) and KushCo Holdings (KSHB). The companies currently concentrate most of their in Canada, where marijuana was legalized in October this year.
Shares of most cannabis stocks opened higher on Wednesday during pre-market trading.
The legalization not only opens up a new market for these companies but also a gateway to a much bigger region.
According to the Bangkok Post, pot users will be allowed to carry only prescribed amounts that are required for medical use. The consumers will also need to furnish a recognized certificate to authorities as sale and production of weed will be in a controlled manner.
Aurora Cannabis eyes 130-mn market through Mexican firm acquisition
Research shows that marijuana is effective in pain relief, besides the treatment of nausea caused due to chemotherapy. Clinical studies are underway to study the other medical applications of marijuana.
Get access to timely and accurate verbatim transcripts that are published within hours of the event
Most Popular
NKE Q2 Earnings Preview: Can Nike maintain the recovery momentum?
Sneaker giant NIKE, Inc. (NYSE: NKE) entered the fiscal year facing heightened competition and shifting consumer preferences. Its upcoming second-quarter results are expected to reflect these evolving industry dynamics and
Earnings Preview: Conagra Brands’ (CAG) sales and earnings projected to decline in Q2 2026
Shares of Conagra Brands, Inc. (NYSE: CAG) rose 1% on Friday. The stock has dropped 7% in the past three months. The branded food company is slated to report its
Costco (COST) reports strong growth in Q1 FY26 earnings; revenue up 8%
Costco Wholesale Corporation (NASDAQ: COST) has reported an increase in net income for the first quarter of fiscal 2026. Revenues grew 8.3% year-over-year. The Issaquah, Washington-headquartered warehouse giant’s total revenues
Comments