Susan Duggan

(This is a breaking story that may be updated as it develops.) Member states of the United Nations Commission on Narcotic Drugs (CND) received the World Health Organization Expert Committee on Drug Dependence’s (ECDD) cannabis recommendations , which had been expected in December , Marijuana Business Daily  has learned. The CND had been expected to consider rescheduling cannabis in March 2019 at its annual meeting, but the delay in receiving the ECDD recommendations may push that consideration into 2020 to provide additional time for member states to review them. The report recommends several changes to how cannabis is scheduled, which could have significant implications for the cannabis industry: The scheduling of cannabis in the international drug control conventions wouldn’t be as restrictive as it is today, because it would be removed from Schedule IV of the 1961 Convention, the category reserved for the most dangerous substances. THC in all forms would be removed from th

A new study of the economics of Oregon’s recreational cannabis industry shows the state would nearly double its cannabis supply if regulators approved all pending producer applications, which could potentially strain an already glutted market. Oregon’s market has struggled with oversupply issues , driving prices down for adult-use cannabis growers and attracting pressure from federal regulators concerned about diversion of cannabis out of state. The study, released Wednesday, suggests the oversupply situation is unlikely to change anytime soon. The report comes as state regulators and policymakers have raised the idea of imposing caps on the number of business licenses and curbing – or even reducing – canopy size limits for growers. Here are some key findings from the biennial Recreational Marijuana Supply and Demand Legislative Report , conducted by the Oregon Liquor Control Commission, which regulates the state’s marijuana program: Between July 2017 and June 2018, recreat

If the end of alcohol prohibition is any indication, the states that are first to legalize marijuana will have a long-term advantage over late adopters. That’s the key conclusion of a new study published this week. A team of researchers wanted to know whether the quickness with which states took advantage of the opportunity to allow beer sales beginning in 1933 impacted the long-term health of the industry in each state. Their study, published in the Journal of the Economic & Business History Society, showed that early adopters had significant short- and long-term advantages over states that ended up legalizing later. And that will likely prove to be the case with the marijuana legalization movement, too. “In the long run, states that legalize in the earliest stages of this staggered removal of the drug’s prohibition may enjoy an early-adopter advantage with respect to the production and sale of marijuana as they gain a foothold in what may soon become a national (or internati

More than 50 bills to legalize marijuana have already been introduced in state legislatures across the country for 2019 sessions. These far-reaching pieces of legislation typically generate the biggest headlines and attract the most attention, but outright legalization efforts are far from the only cannabis-related proposals that lawmakers are considering in 2019. Less wide-ranging, but also important, marijuana reform bills are cropping up by the day. Here’s a look at some of the most interesting cannabis legislation filed this year that you might have missed: In Colorado , a bill would give large marijuana companies a boon by repealing provisions that require background checks on initial investors and allowing publicly traded companies to obtain cannabis licenses. Connecticut lawmakers are looking at a bill that would protect veterinarians from punishment if they discuss using cannabis therapeutically for pets. Another piece of legislation, which many legalization advocates

The entrance of multinational pharmaceutical companies into Canada’s cannabis sector will mark one of the next major themes in the industry, analysts told Marijuana Business Daily. Such eventual moves by Big Pharma will provide even more credibility to a sector that has already seen the entrance of alcohol and tobacco giants. “The missing link is in the pharmaceutical part of the equation,” David Kideckel, director of Altacorp Capital’s life sciences division, said in an interview with MJBizDaily . “That’s going to be an ongoing theme for 2019 – M&A and how these so-called legacy industries move in.” Thus far, there have been no major direct investments from pharmaceutical companies into medical cannabis licensed producers. But a recent Altacorp report said that drought could “come to a halt” once the U.S. legalizes cannabis at a federal level. “As far as making really big deals, I don’t think you’re going to see anything substantial in terms of an equity stake until comp

Longtime marijuana advocate Steve Fox has left the National Cannabis Industry Association, which he co-founded, to join the upstart Cannabis Trade Federation to promote federal MJ reform. “It is a larger lobbying team at CTF with a lot of reach into a lot of different offices,” Fox told Marijuana Business Daily . “And, from the perspective of someone who’s been trying to change federal laws actively since 2002, the opportunity to work with so many people to try to end this battle was too good … to turn down.” CTF recently announced it was hiring 15 Washington DC-based lobbyists to work on passing the States Act , which would exempt cannabis businesses operating in accordance with state law from the federal Controlled Substances Act. “We’re putting a full-court press on to try to get that passed during this session,” Fox said. As a strategic adviser, Fox will be working as a consultant for CTF based in Washington DC. CTF  was formed  in April 2018 through the merger of the Ne

If the end of alcohol prohibition is any indication, the states that are first to legalize marijuana will have a long-term advantage over late adopters. That’s the key conclusion of a new study published this week. A team of researchers wanted to know whether the quickness with which states took advantage of the opportunity to allow beer sales beginning in 1933 impacted the long-term health of the industry in each state. Their study, published in the Journal of the Economic & Business History Society, showed that early adopters had significant short- and long-term advantages over states that ended up legalizing later. And that will likely prove to be the case with the marijuana legalization movement, too. “In the long run, states that legalize in the earliest stages of this staggered removal of the drug’s prohibition may enjoy an early-adopter advantage with respect to the production and sale of marijuana as they gain a foothold in what may soon become a national (or internat

A new audit released by the Oregon Secretary of State examined the state’s regulation of the cannabis market since voters said yes to legalization in 2014. Some of the audit’s conclusions that will be of particular interest to marijuana companies in Oregon include: The state cannabis program failed to keep up with mandatory inspections. Regulators have not done enough to address diversion into the black market. The program’s pesticide testing system was found to be inadequate, and the state does not have a way to verify the accuracy of test results. According to The Oregonian, auditors concluded regulators have failed to meet basic standards , such as inspections. It found that just 3% of retailers had been inspected and only about a third of growers. The audit also noted that while the state requires certain pesticide tests for recreational cannabis, testing isn’t required for most medical marijuana. – Associated Press Original Article Source: https://mjbizdaily.com/aud

Wellhaus set up shop in Park City’s Crystal Park Cantina on Main Street during the opening weekend of the 2019 Sundance Film Festival. Miguel Mendoza Nestled amid the notorious madness up and down Main Street during the Sundance Film Festival, this year’s attendees could duck into a dedicated space to take a chill pill, literally. Wellhaus, billed as the festival’s first-ever “fully integrated health and wellness and CBD-focused concept house” was sponsored by Charlotte’s Web in partnership with Axcess Entertainment . For the record, Wellhaus is not the first-ever cannabis-related pop-up Park City, Utah has seen during the annual event. The Arcview Group hosted a “Future of Cannabis Summit” featuring three days of programming with investor-focused panel presentations, receptions and dinners over the opening weekend of Sundance in 2017. But at Wellhaus, which set up shop in Crystal Park Cantina from January 25-27, guests were able to experience the products and panel prese

Hexo Corp., a licensed producer of cannabis based in Quebec, Canada, raised 57.6 million Canadian dollars ($43.7 million) Wednesday when it closed its offerin g of common shares. The company said in a news release it will use the proceeds for global expansion and research and development. The Quebec cultivator, which trades as Hexo on the Toronto Stock Exchange and NYSE American  made 8.8 million shares available at CA$6.50 a share in the offering. Last August, Hexo entered a joint venture with Molson Coors Canada to produce CBD-infused beverages in which the brewing giant  took a 57.5% stake . Molson Coors said at the time it would have the option of buying a 5% stake in Hexo if the company’s stock hit CA$6 a share. Hexo stock was trading at CA$6.98 a share at midday Wednesday. CIBC Capital Markets, BMO Capital Markets and Oppenheimer & Co. served as co-lead underwriters for the share offering. CIBC and BMO were joint bookrunners. Original Article Source: https://mjbiz

Have you seen news stories for a “new type” of marijuana that doesn’t get you high? Many of these articles will then go on to talk about the burgeoning market for cannabidiol or CBD, and the changing hemp industry that’s integral to the production of many CBD products. Referring to CBD as a type of marijuana or simplifying it to the broader term “cannabis” can be misleading, and focusing on its psychoactive effects or lack thereof is really missing the bigger picture. The simple answer to the question,  does CBD hemp oil get you high , is no. CBD oil , particularly CBD hemp oil derived from industrial or legal hemp crops, does not provide psychoactive effects. That’s another way of saying that it won’t get you high, make you feel disoriented or intoxicated, and isn’t likely to cause some of the more unpleasant feelings associated with marijuana use, such as anxiety, apprehension, and paranoia. Those effects aren’t due to marijuana overall, but one chemical compound contained in

More than 50 bills to legalize marijuana have already been introduced in state legislatures across the country for 2019 sessions. These far-reaching pieces of legislation typically generate the biggest headlines and attract the most attention, but outright legalization efforts are far from the only cannabis-related proposals that lawmakers are considering in 2019. Less wide-ranging, but also important, marijuana reform bills are cropping up by the day. Here’s a look at some of the most interesting cannabis legislation filed this year that you might have missed: In Colorado , a bill would give large marijuana companies a boon by repealing provisions that require background checks on initial investors and allowing publicly traded companies to obtain cannabis licenses. Connecticut lawmakers are looking at a bill that would protect veterinarians from punishment if they discuss using cannabis therapeutically for pets. Another piece of legislation, which many legalization advocates

Former U.S. Rep. John Delaney (D-MD) might not have the same level of name recognition as other Democrats running for their party’s 2020 presidential nomination, but what he does share with most other candidates is support for reforming federal marijuana laws. That said, the Maryland politician, who announced that he was running back in 2017, hasn’t vocally embraced full cannabis legalization. But he received a “B” grade from NORML in 2016 for his consistent votes in favor of marijuana reform amendments in the House. Legislation And Policy Actions Delaney co-sponsored seven cannabis-related bills during his time in Congress. That includes legislation that would  remove cannabidiol (CBD)  from the Controlled Substances Act (signing onto  versions  of this specific  bill  three times), another that would  protect individuals  participating in state-legal marijuana activities from federal interference, one that focuses on  protecting patients  in medical cannabis states and  two   v

A court case challenging the constitutionality of Florida’s ban on smokable medical cannabis has been put on hold until March 15 to allow state lawmakers time to eliminate the prohibition. An appellate court granted the stay after a request from both sides in the case, according to The News Service of Florida. Earlier this month, new Gov. Ron DeSantis requested that the Legislature do away with the ban, which was ruled unconstitutional  in 2018 by a circuit court judge. To read more about the situation  click here . Original Article Source: https://mjbizdaily.com/court-gives-florida-lawmakers-time-to-remove-medical-marijuana-smoking-ban/

Former U.S. Rep. John Delaney (D-MD) might not have the same level of name recognition as other Democrats running for their party’s 2020 presidential nomination, but what he does share with most other candidates is support for reforming federal marijuana laws. That said, the Maryland politician, who announced that he was running back in 2017, hasn’t vocally embraced full cannabis legalization. But he received a “B” grade from NORML in 2016 for his consistent votes in favor of marijuana reform amendments in the House. Legislation And Policy Actions Delaney co-sponsored seven cannabis-related bills during his time in Congress. That includes legislation that would  remove cannabidiol (CBD)  from the Controlled Substances Act (signing onto  versions  of this specific  bill  three times), another that would  protect individuals  participating in state-legal marijuana activities from federal interference, one that focuses on  protecting patients  in medical cannabis states and  two   v

People from a diverse range of cultures have been using marijuana for thousands of years—in different forms and for different purposes. And a recent study published in the Journal of Cellular Physiology offers a comprehensive look at humanity’s fascinating relationship with cannabis over long periods of time. Via the Journal of Cellular Physiology. The study covers a lot of ground and is worth a read, but here are some of the stand-out facts that the team of Italian researchers identified in their paper: —Cannabis seeds macrofossils were found attached to pieces of broken ceramic in central Japan dating back about 10,000 years. —Shen Nung, a Chinese emperor around 2,700 BCE who is also considered the father of Chinese medicine, reportedly regarded marijuana as a “first-class herb” that was not dangerous. —According to Verdic texts from around 800 BCE, cannabis was used in religious rituals but also for its “analgesic, anesthetic, antiparasitic, antispastic, and diuretic prope

Seven companies are challenging a CBD licensing process in Virginia that resulted in multistate medical marijuana operators getting a majority of available licenses. The appeals called the process “wildly prejudicial.” Out of 51 applicants for five vertically integrated CBD and THC-A licenses, multistate operators received three, a situation that spurred the appeals, The Virginian-Pilot reported. Applicants filing the appeals complained the closed-meeting review process lacked fairness and transparency. One consultant to an applicant said the selections felt “predetermined.” The Virginia Board of Pharmacy reportedly sent information to the applicants in December explaining its selections, but some applicants weren’t satisfied. A board spokeswoman wrote in an email to the Pilot that the board “does not comment on pending litigation.” The five winning applicants , called “pharmaceutical processors,” have a year from winning the licenses to become operational. The multistate