Can I prepare Laudanum myself?

I would think this should succeed. The composition is to be found in the OJ V:

R/Opium Dry extract 5g
saffron tincture 15g
cinnamon oil 0.1 g
Eugenol 0.1 g
Ethanol 60 ° to 100g (79.8 g)

dissolve and filter.
Opium tincture with saffron contains 1% water-free morphine.