Leading Australian Medical Cannabis Stocks Listed on ASX: A Market Overview

Australia’s medical cannabis sector has experienced remarkable growth, establishing itself as a significant player in the global market despite the absence of nationwide recreational legalization. The therapeutic cannabis industry received federal approval in 2016, followed by export authorization in 2018, creating a regulatory framework for legitimate business operations. Only Australia’s Capital Territory has moved toward recreational legalization, implemented in 2020 without establishing a formal regulated market structure.

Market Growth Trajectory and Investment Potential

The expansion of Australia’s medicinal cannabis market has accelerated substantially. According to recent analysis, consumer spending reached approximately AU$400 million during the first half of 2024—a dramatic 72 percent increase compared to the AU$234 million expenditure throughout 2022. Analysts project a compound annual growth rate of 33.6 percent through 2030, signaling robust expansion opportunities for publicly listed companies.

The ASX hosts numerous cannabis enterprises manufacturing therapeutic products, botanical extracts, and derivative items. Many of these companies have expanded international operations, with some manufacturing recreational cannabis in offshore jurisdictions. The following represents the ten most valuable cannabis organizations trading on the ASX, ranked by market capitalization using data compiled on March 18, 2025.

The Leading Cannabis Enterprises on the Australian Securities Exchange

1. Botanix Pharmaceuticals (ASX:BOT) – AU$786.74 Million Valuation

Trading at AU$0.41 per share, Botanix Pharmaceuticals commands the largest market valuation among medical cannabis enterprises on the ASX. This Perth-headquartered biopharmaceutical organization concentrates on developing cannabinoid-derived dermatological therapeutics. The company’s proprietary Permetrex technology enables transdermal penetration of active compounds, targeting subcutaneous skin pathologies.

The flagship therapeutic is Sofdra, engineered for axillary hyperhidrosis management (excessive perspiration conditions). Regulatory milestones include Japanese approval in 2020 under the Ecclock brand name and FDA clearance in June 2024. The pipeline encompasses multiple investigational candidates leveraging synthetic cannabidiol’s anti-inflammatory and antimicrobial characteristics for moderate-to-severe acne, rosacea, and atopic dermatitis indications, alongside a novel staphylococcal infection therapeutic.

2. Vitura Health (ASX:VIT) – AU$48.34 Million Market Position

With shares valued at AU$0.073, Vitura Health operates as a digitalized healthcare ecosystem integrating patients, practitioners, pharmacists and distribution networks. Previously operating as Cronos Australia, the organization has consolidated market presence through multiple operating divisions and established consumer brands.

The subsidiary Burleigh Heads Cannabis channels pharmaceutical-grade botanical products through the Canview digital marketplace, enabling patient product previews and professional prescribing. The CDA Clinics network provides professional consultations on plant-based therapeutics including medical cannabis formulations. A significant development occurred in February 2025 with the acquisition of Candor Medical, expanding clinical infrastructure. Cannadoc, in which Vitura maintains a 75.5 percent stake, delivers nationwide telehealth access for cannabis-seeking patients.

3. IDT Australia (ASX:IDT) – AU$41.35 Million Capitalisation

IDT Australia, valued at AU$0.10 per share, operates as a contract pharmaceutical manufacturer licensed for active pharmaceutical ingredient production and finished pharmaceutical preparations. The organization’s licensure encompasses medicinal cannabis formulation manufacturing for both domestic and international distribution channels, positioning it as a critical supply-chain participant in Australia’s therapeutic cannabis ecosystem.

Specialized manufacturing capabilities include solid oral formulations and sterile liquid dosages featuring high-CBD and high-THC profiles, alongside resin extraction services. The integrated analytical laboratory provides comprehensive quality testing and stability analysis compliant with current good manufacturing practice standards, supporting pharmaceutical-grade product development.

4. Little Green Pharma (ASX:LGP) – AU$39.39 Million Valuation

Trading at AU$0.13, Little Green Pharma distinguishes itself through patient affordability prioritization and holds recognition as Australia’s inaugural commercial cannabis medicine producer-exporter. The company manufactures both proprietary and white-label products in oral oil and dried flower formats across Australian and Danish facilities, servicing European markets including Germany, the UK and France with expansion ambitions.

Recent fiscal performance demonstrates acceleration, with Q3 fiscal 2025 revenues reaching AU$9.5 million (75 percent quarterly growth). Cumulative first-three-quarter fiscal 2025 revenues totaled AU$27 million, surpassing the complete 2024 fiscal year revenue of AU$25.6 million, signaling substantial market penetration.

5. Neurotech International (ASX:NTI) – AU$36.47 Million Market Cap

Neurotech, priced at AU$0.038 per share, advances cannabis-derived neuropharmaceuticals through clinical development pathways, emphasizing autism spectrum disorder therapeutics. The primary investigational product, NTI164, combines high-concentration CBDA with complementary minor cannabinoids targeting pediatric neurological conditions.

Phase I/II trial outcomes disclosed in July 2024 documented anxiety and depression symptom reduction following eight-week administration in autistic children. April 2024 announcements confirmed NTIASD2 trial success, meeting primary illness-severity improvement endpoints versus placebo, alongside secondary gains in clinical outcomes, behavioral adaptation and social functioning. FDA orphan drug designation was granted for Rett Syndrome treatment applications. February 2025 formalized a development partnership with European cannabinoid pharmaceutical entity RH Pharma, targeting pediatric pharmaceutical-grade cannabinoid products for neurodevelopmental disorders.

6. ECS Botanics (ASX:ECS) – AU$16.85 Million Valuation

Trading at AU$0.013, ECS Botanics, Victoria-based, positions itself as Australia’s preeminent business-to-business medicinal cannabis cultivation and manufacturing operation. The organization employs regenerative and organic cultivation methodologies alongside renewable energy infrastructure within Australian Therapeutic Goods-licensed facilities producing GMP-certified outputs.

May 2024 witnessed initiation of a twelve-month supply arrangement with Elite Medical Solutions incorporating AU$380,000 minimum guaranteed annual purchasing with automatic renewal provisions. The agreement designated Elite Medical Solutions as exclusive retail distributor for the RAP Med brand, specifically marketed to military veteran demographics through soft gel capsule and liquid formulation delivery. Recent reporting disclosed 50 percent yield enhancement positioning the organization toward record 2025 calendar-year harvests.

7. Cann Group (ASX:CAN) – AU$13.65 Million Market Position

Cann Group, valued at AU$0.026 per share, functions as a medical cannabis cultivation and manufacturing enterprise distributing products throughout Australia and internationally. The agri-technology organization emphasizes genetic research and selective breeding protocols supporting high-performance medical-market formulations.

The enterprise achieved dual distinctions: first cannabis research licensure from Australia’s Office of Drug Control in 2017, followed by first medicinal cannabis cultivation licensure the subsequent month. The Mildura, Victoria facility manufactures Satipharm CBD sleep capsules and diverse cannabis formulations (flower and resin extracts) for conditions spanning multiple sclerosis through chronic pain management. Annual production capacity reaches 12,500 kilograms of processed cannabis flower for international and domestic medical distribution.

8. Althea (ASX:AGH) – AU$12 Million Capitalisation

Althea, trading at AU$0.023 per share, functions as an international pharmaceutical-grade medicinal marijuana producer, supplier and export specialist operating within regulated cannabis markets spanning North America, Europe and Australia. Cultivation licensure authorization arrived in 2018, with German market approval achieved in late 2020, establishing Althea as Germany’s inaugural Australian-sourced medical cannabis commercial supplier.

Peak Processing Solutions, an Althea subsidiary, commands leadership positioning in North American legal recreational cannabis manufacturing, marketing and distribution channels. Fiscal 2025 H1 reporting documented financial improvement through substantial loss reduction: AU$1.5 million net loss compared to AU$9 million adjusted loss in fiscal 2024 H1 and AU$5.3 million adjusted loss in fiscal 2024 H2. Peak Processing Solutions generated AU$8.2 million in revenue, representing 57.9 percent growth versus fiscal 2024 H1, driven by escalating THC beverage market demand.

9. Ecofibre (ASX:EOF) – AU$9.11 Million Market Cap

Ecofibre, priced at AU$0.022 per share, concentrates on hemp-sector advancement across US and Australian markets through advanced manufacturing and technological application. The organization integrates three vertically-aligned operations: sustainable polymeric materials development, natural wellness products, and hemp genetics research.

Ecofibre Genetics supplies hemp seed germplasm to fiber and grain industries throughout North America and Australia, leveraging one of the world’s most extensive hemp genetic collections. EOF Bio, a majority-controlled US-based clinical-stage biotechnology venture, formulates cannabinoid pharmaceuticals emphasizing women’s health and endometriosis indications. Ananda Health, a preeminent US cannabinoid wellness manufacturer, distributes CBD products throughout Australian and American markets targeting sleep disruption, pain conditions, anxiety disorders, endometriosis and additional gynecological indications.

10. Argent Biopharma (ASX:RGT) – AU$7.41 Million Valuation

Argent Biopharma, valued at AU$0.13 per share, develops pharmaceutical therapeutics utilizing nanotechnological platforms addressing central nervous system and immunological conditions. Investigational medicinal products receive early patient-access distribution throughout UK, US, European and Australian markets.

Principal therapeutic assets include CannEpil (refractory epilepsy and cerebral palsy management) and CimetrA (acute lung injury and acute respiratory distress syndrome treatment)—both currently generating commercial revenues. CogniCann, presently undergoing clinical evaluation, targets quality-of-life enhancement for dementia patients, including Alzheimer’s disease populations.

Conclusion

Australia’s medical cannabis sector demonstrates substantial investment opportunities through established ASX-listed enterprises. With projected 33.6 percent annual growth through 2030 and expanding international market access, these cannabis news organizations represent diverse approaches to therapeutic cannabinoid development, manufacturing and distribution.

This analysis represents an update to earlier Investing News Network reporting conducted in 2019. Follow @INN_Australia for current industry updates.

Disclosure: Contributors maintain no direct financial positions in referenced organizations. Expressed viewpoints represent author analysis and do not reflect institutional positions.