Business News Australia is reporting

NSW-based Australian Natural Therapeutics Group (ANTG) has been granted a license to produce large quantities of medicinal cannabis oil for commercial use as the industry booms on the back of good news internationally.

ANTG will commence commercial manufacturing of cannabis oil at its Armidale facility following receipt of the license from the Therapeutic Goods Administration.

Founded in 2015, ANTG already produces four strains of medicinal cannabis flower, and will soon add four oil combinations to its product range following.

ANTG CEO Matt Cantelo said the license signifies a big step in the buy-local movement and will mean price drops in medical cannabis as more of the drug is made on-shore.

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