The story
A gerundial noun from the slang term to pund used by addicts, coined by Swedish forensic psychiatrist G. Rylander, in 1968. Folke Sjöqvist, Malcolm Tottie, editor (1969), “Clinical and Medico-criminological aspects of addiction to Central Stimulating Drugs”, in Abuse of central stimulants: Symposium arranged by the Swedish Committee on International Health Relations, Stockholm, November 25-27, 1968, Almqvist & Wiksell, page 257
Etymology from Wiktionary, CC BY-SA 4.0.