Thonburi Healthcare Group (THG), Thailand’s main healthcare supplier, is partnering up with local universities to research, develop and produce cannabis and hemp products for medical purposes, according to an article in Bangkok Post.
This marks another robust opening from Thailand within the emerging cannabis sector, where Thailand is aiming to seize a leading share of the forecasted medical marijuana market in Asia – expected to swell up to $8.5 billion by 2024.
Local rice farmers have been encouraged to begin cultivating medical cannabis under government contracts.
The collaboration is outlined in a memorandum of understanding (MoU) signed with three respected local universities, Srinakharinwirot, Mahidol Kasetsart.
THG chairman Dr. Boon Vanasin mentioned the MoU is geared toward growing and carrying out research on medical products from cannabis and hemp extracts that are easy to use, efficient and suitable in the treatment of many ailments.
The goal is to create high-quality medical-grade cannabis products that are inexpensive to the Thai people, said Dr Boon.
He mentioned the venture is being carried out in response to government laws that permit private individuals and corporations to grow hemp for commercial purposes.
“SWU is a leading university in Thailand and is famed for its academic excellence and teaching standards, so we will benefit from their expertise in medical cannabis,” Dr. Boon stated.
President of Srinakharinwirot University, Somchai Santiwatanakul, pointed out how the venture will take place under strict regulation by government agencies to make sure no harmful consequences will happen to the Thai society.
Under current law, cannabis is still considered as a Class 5 narcotic, despite government openly embracing its potential and continuing steps towards legalization.
Cannabis has been researched for numerous medical uses and health benefits, including:
- Relief of chronic pain
- Improves lung capacity
- Weight loss
- Regulates and prevents diabetes
- Cancer treatment
- Helps treat depression
- Shows promise in autism treatment
- Regulates seizures
- Mend bones
- Helps with ADHD/ADD
- Treatment for glaucoma
- Alleviate anxiety
- Slow development of Alzheimer’s disease
- Deal with pain linked to arthritis
- Helps with PTSD symptoms
- Helps provide relief to individuals with multiple sclerosis
- Reduces side effects linked to hepatitis C and increase the effectiveness of treatment
- Treats inflammatory bowel diseases
- Helps with tremors associated with Parkinson’s disease, alcoholism
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