The UK authorities have taken a “significant step” by clarifying the process by which cannabis companies are authorised to grow and manufacture the plant for medical purposes.

This, at least, is the opinion of Ananda Developments (AQSE:ANA) PLC, which on Friday responded to the Medicines and Healthcare products Regulatory Agency’s (MHRA) first formal guidelines, issued earlier this week.

The MHRA process involves a series of checks, inspections and validations involving both the Home Office and the MHRA. Previously, there has been no formalised joint approach.

“We see this announcement from the MHRA as the most significant step for the UK medical cannabis industry since the legalisation of medical cannabis in 2018,” said Ananda’s chief executive, Melissa Sturgess.

“To see a joined-up approach from the Home Office and the MHRA is extremely welcome, and we believe it demonstrates strong acknowledgement and support for this nascent industry.”

Ananda’s ambition is to be a leading UK grower and manufacturer of medical cannabis.