The Australian National Health and Medical Research Council (NHMRC) has concluded that homeopathy is not effective in treating, well, anything. The Council examined more than 200 studies of homeopathy before coming to its conclusion. It cautions consumers that delaying or avoiding mainstream treatment in favor of homeopathic treatment in cases of chronic or serious illness could have unfortunate outcomes. Here's a link to the press release from the NHMRC. More, including statements and supporting information, here.