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AU Financial Review
5 hours ago
- AU Financial Review
World-leading MDMA production kicks off in Australia
Safe, domestically produced MDMA might be the dream for Australian ravers, but it is now a reality for people with treatment-resistant post-traumatic stress disorder after Melbourne-based psychedelics manufacturer Cortexa finished its first production run of 10,000 capsules. In an Australian first, Cortexa has synthesised the world's largest single batch of high-quality therapeutic MDMA, an undertaking two years in the making and produced under high-level security.
The Australian
7 hours ago
- The Australian
CMG enters mobility market as joint health interest accelerates
CMG launches UC-II, a collagen-based supplement for joint mobility Product targets knee pain and stiffness with low-dose, once-daily format Joint health market expanding alongside Australia's ageing population Special Report: Joint pain has become a major focus for Australia's booming complementary medicines industry, now worth more than $6.4 billion a year. As the population ages and demand for non-surgical mobility solutions grows, a number of ASX-listed companies are positioning for growth in the space. Among them are Vita Life Sciences (ASX:VLS), EZZ Life Science (ASX:EZZ), Star Combo Pharma (ASX:S66) and McPhersons (ASX:MCP). While each has its own strategy, the common thread is clear: consumers are spending more on supplements that promise functional outcomes like pain relief, energy support and healthy ageing. Now, Complementary Medicines Group (CMG) is entering the conversation with a new product focused on knees - the part of the body most often linked with mobility decline. Called UC-II, the once-daily capsule contains undenatured type II collagen and has been shown in clinical studies to support joint function, reduce stiffness and improve walking ability in people experiencing mild osteoarthritis or wear-and-tear from an active lifestyle. Dr Brad McEwen PhD, a researcher at CMG, said the formula offered something new for consumers. 'UC-II works by helping the immune system recognise inflammation in the joint and respond appropriately. It targets the underlying cause, not just the symptoms,' he said. 'What makes it unique is the dose. You only need 40 milligrams per day. It is an efficient, well-tolerated alternative to high-dose glucosamine or chondroitin.' Market conditions are shifting Mobility health has emerged as one of the most promising supplement categories in Australia, particularly among people aged 35 and over. More than half of Australian adults use complementary medicines and nearly three in four households report keeping supplements on hand. Pill fatigue, rising interest in preventive health and a growing appetite for clinically validated products are all shaping how consumers choose what to buy. CMG's UC-II has been formulated to address those trends, with supporting evidence from more than a dozen clinical trials. In a six-month study, participants taking UC-II reported improved joint flexibility and reduced pain when climbing stairs, standing upright and walking longer distances. The product is now available through Go Vita stores nationally and is sold under several trusted brand names. Quality and compliance remain key Australia is considered one of the most tightly regulated markets in the world for complementary medicines. All products must be listed on the Australian Register of Therapeutic Goods and adhere to standards set by the Therapeutic Goods Administration. That quality assurance is also a key reason why exports have climbed to more than $1.2 billion per year. For CMG, the goal is not just to enter the category, but to lead with a formulation that is simple, proven and well-positioned for both domestic and export markets. With continued growth in the broader sector and increasing interest in mobility-focused products, the company is hoping UC-II will meet a real and growing need. This article was developed in collaboration with Complementary Medicines Group, a Stockhead advertiser at the time of publishing. This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
ABC News
8 hours ago
- ABC News
SA disability employment provider Bedford hopes for government funding lifeline
Disability employment provider Bedford is hoping the federal government will throw it a financial lifeline to avoid the company entering voluntary administration. But Minister for Health, Ageing and Disability Mark Butler has warned the government does not usually put taxpayer money into a "failing organisation". In a statement on Thursday, Bedford said it would enter voluntary administration on Sunday, July 27 after an "exhaustive negotiation process with the state and federal governments, banking and commercial partners NAB". This morning on ABC Radio Adelaide, the organisation's chair Janet Miller said Bedford still hoped to avoid closure, and blamed the NDIS for its current position. ""We're hoping that we don't go into voluntary administration but if we do, what happens on Monday is out of our control, that would be up to the administrator," she said. "The model has evolved. It's very difficult to make the NDIS model work, it's not sustainable." Ms Miller said the organisation believed its strategy was "still sound" and that it had "a good balance sheet". She said the state government had already put money on the table and that the federal government was still considering it. "Our plea to stop us going into voluntary administration this week, we just need a commitment for that money to be available," she said. But Mr Butler told ABC News Breakfast, while talks were continuing, he believed the organisation's financial situation was dire. "We have been talking to them. It's not usual for the Federal Government to give money to an organisation that is failing financially before it goes into administration," he said. He reiterated those comments later on ABC Radio Adelaide. "I'm not clear that there wouldn't be the need for more money beyond the several weeks that that might give to them," he said. On Thursday, a federal government spokesperson said Bedford had received tens of millions of dollars in funding in the past 15 months alone. "The Australian government has been supporting the South Australian government's discussions with Bedford in recent weeks," the spokesperson said. According to its website, Bedford is the second-largest employer of people with disabilities in the nation, and has 22 sites across Adelaide and regional South Australia. The employment provider was established in April 1945 and has this year been celebrating its 80th anniversary. Employee Kym told ABC Radio Adelaide he had worked with the organisation for 11 years. "We were told that they're going to have a meeting with the president on Sunday and everyone would be notified what would happen," he said. "[We] could be closing down if we don't get the money to help us out." He said he felt "little bit sad" upon hearing the news but was trying to support his co-workers yesterday. Mr Butler said he felt for the employees. "I desperately want a future for Bedford," he said. "We understand very acutely the unique nature of this organisation, it's not just some other business that's got itself into difficulty. Premier Peter Malinauskas said his thoughts were primarily with the workers at Bedford, and the state government's offer for funding was still in place. "The question is the money that we do put on the table, does that best address those workers' future through the administration process or staving off administration and seeing a rebound plan initiated under Bedford's current economic arrangements," he said. "They are the deliberations that we've been working on frankly since May, June. We continue those discussions today." He said the state government's financial support would be conditional, but would not provide details on those conditions. "Not for one second do I think we should question the intent of the people that work there, including at the most senior levels of Bedford, the board, the CEO and the senior management, these are good people who want to do a good thing for the people they employed and the services they provide," he said.
