A landmark study is about to take place, investigating the effectiveness of medical cannabis on anxiety, insomnia and PTSD.
During their lifetime, over 33.7% of people globally are affected by an anxiety disorder. Up to 30% of those people do not respond to regular anxiety treatments. While medical cannabis has long been proposed as a treatment for anxiety conditions, very few large studies have been conducted in Australia.
Bod Australia (ASX:BOD), a medical cannabis company based in NSW will be carrying out a study with 500 people. The study will test the effectiveness of MediCabilis on a range of disorders, including insomnia, anxiety and PTSD.
In an interview with The Sentiment, Bod Australia CEO Jo Patterson was quoted as saying:
The need to find alternative solutions to treat a range of chronic health disorders is ever-present. The outcomes from this extensive trial will provide important insights.
MediCabilis has been on the market for nearly a year and is a schedule 4 drug that contains CBD – the non-psychoactive component of cannabis.
During the study, patients who already take the drug will participate in questionnaires, interviews and health checks over the course of twelve months. While they will be given a discount, participants will pay for their own treatment – at an average of $436 a month.
This study is also part of a larger, global project called ‘Project Twenty21’. Project Twenty21 is being carried out across Australia and the UK to obtain treatment information on over medical cannabis 20,000 patients with conditions ranging from anxiety to sclerosis.
Depending on the results, this study will impact the regulation of the MediCabilis in Australia, as it will inform the funding of Australia’s Pharmaceutical Benefits Scheme (PBS). It will also impact MediCabilis markets in Europe, the UK and the United States – where the product is currently being introduced.
Bod Australia is just one medical cannabis company listed on the Australian Stock Exchange and expects to make $6 million in revenue this year.