Australia Legalizes Over-the-Counter (OTC) Sales of CBD

In late December of 2020, the Australian Therapeutic Goods Agency (TGA), the regulatory equivalent of the Food and Drug Administration (FDA), determined that naturally extracted hemp oil CBD could be sold over-the-counter in pharmacies. Once a given product has submitted for approval it must first be determined as both safe and effective through a series of trials. The size of the initial Australian OTC CBD market is estimated at $145 million annually.