Categories Health Care, Markets

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.”

CREDIT: Sharon McCutcheon

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

AVGO Earnings: All you need to know about Broadcom Q1 2021 earnings results

Broadcom Limited (NASDAQ: AVGO) reported first quarter 2021 earnings results today. Total revenue increased 14% year-over-year to $6.65 billion. GAAP net income was $1.3 billion, or $3.05 per share, compared

Infographic: Costco (COST) Q2 2021 sales up 15%; earnings miss

Retail giant Costco Wholesale Corporation (NASDAQ: COST) reported higher earnings and revenues for the second quarter of 2021. Earnings missed analysts’ expectations, while sales beat. Net profit was $951 million

Will shifting to as-a-service model help Hewlett Packard in emerging stronger from COVID?

With the corporate world rapidly shifting to cloud-native computing after the virus outbreak changed work culture and the way businesses operate, technology providers are aggressively innovating their offerings. Hewlett Packard

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top