Thread: High Times on the Medical Front

Thailand Wants to Have Its (Hash) Cake and Eat It Too

By Natnicha Chuwiruch
July 17, 2018, 4:00 AM GMT+7

• Country will lead the way in Asia to legalize medical cannabis
  
• Thailand eyeing a piece of the global medical cannabis market

“No other country offers the combination of benefits that Thailand offers within a single jurisdiction,” said Jim Plamondon, vice president of marketing for Thai Cannabis Corp. It is the country’s first legal cannabis company, which according to its website is working with Maejo University to develop products and medicines. “Thailand has not only the large medical tourism industry, it also has an unparalleled system of traditional medicine that is regulated and standardized.”Medicinal PropertiesMedical research into marijuana continues to evolve yet studies show the plant could be used to aide patients with Parkinson’s disease, cancer, seizures and autism. The marijuana plant in Thai history has been used to help with pain, nausea and distress during childbirth and was commonly grown for personal use by field hands looking to relax.


Thailand’s marijuana history was driven strongly by the country’s history with the U.S., said Plamondon. During the Vietnam war, American G.I.s while flying into Thailand for rest and recuperation became exposed to Thai cannabis.Laws on the books remain tough on marijuana, for both use and sale. Currently, possession of cannabis in Thailand could land its owner in jail for up to 15 years as the plant is a category-5 narcotic drug along with psychoactive mushrooms and kratom, a psychoactive plant similar to opiates that is native to tropical Southeast Asian countries.
The amendment as described by the government’s Office of the Narcotics Control Board’s Deputy Secretary-General Wichai Chaimongkhon is an attempt to make the country “more international” by opening a window to allow marijuana testing on human subjects in order to conduct research or develop medicines.
“If it’s proven that the medicines could cure diseases like Parkinson’s disease, cancer, depression, then I believe it’s a benefit and could create revenue if we export the medicines out to sell in other countries,” Wichai said.


That is a thought mirrored by Thailand’s largest network of private hospitals, Bangkok Dusit Medical Services Pcl, which is prepared to push forward with research and development of medical cannabis once it’s legal, said the group’s assistant chief medical officer Wisut Lajchasaewee.Private hospitals such as BDMS, state organizations and Thai medical companies would be able to apply for licenses with the Ministry of Public Health to conduct research and experiments using marijuana once the law goes into effect possibly next year.
Worldwide Competition

Pharmaceutical companies, however, may stand to lose out if they don’t adapt quickly enough. The legalization of medical marijuana in some U.S. states has led to a decline in revenue for pharmaceutical companies for pain relievers and sleep aids.
The big pharmaceutical companies operating in Thailand including Pfizer Inc., Novartis AG and GlaxoSmithKline Plc generate some of the highest revenue in the domestic drug industry, netting up to a total of 20 billion baht ($601 million) in revenue in 2015. Their highest-value products are painkillers and fever medication, according to Krungsri Research.

“Thailand is not a country that likes to be the pioneer in the medical industry,” Nopporn said. "But we certainly will not be the last country to do it.”

Originally Posted by tomcat

Pharmaceutical companies, however, may stand to lose out if they don’t adapt quickly enough.

Oh, they will. They may have missed the boat in the US, but this is Thaialnd where laws and favours are available a lot quicker than going via the lobbyists in the US.
This actually has the potential to prevent the decriminalisation of cannabis as the big companies (Thai as well as foreign pharma) will want to monopolise the industry and don't want competition from home growers and small operations.

If only the government would realise that there's actually a huge benefit to government coffers and to tourism should the stuff be decriminalised/legalised in a way such as Canada has done. They've got the tobacco monopoly, what's to stop them having the cannabis monopoly too.