- The
U.S. Drug Enforcement Administration (DEA) ruling enables physicians to
prescribe Epidiolex, a non-synthetic cannabis-derived medicine from United
Kingdom-grown cannabis
- Cannabis
entrepreneurs applaud the decision, even though it only applies to that
specific drug; DEA decision requires approval of medications by the U.S.
Food & Drug Administration (FDA)
- Several
other CBD medications are in the pipeline for consideration by the FDA;
move is seen as legitimizing the industry and changing it to traditional
distribution of prescription-to-drug store
The DEA decision to approve the first non-synthetic
CBD-derived drug, Epidiolex, and remove it from the agency’s most restrictive
class of controlled substances is seen as having a positive impact on the
cannabis industry and altering its channel of distribution, according to an
article in the Hemp Industry Daily (http://ibn.fm/Nac4g). It is the
first time that the agency has removed any type of cannabis from Schedule I.
The DEA has reclassified ‘finished dosage formulations’ of
CBD and FDA-approved drugs that contain cannabis-derived CBD and less than 0.1
percent tetrahydrocannabinol (THC) as Schedule V. The decision comes after the
FDA’s initial approval of the non-synthetic CBD-based drug to treat rare cases
of epilepsy, the article notes.
Epidiolex has been rescheduled from Schedule I to Schedule V
of the Controlled Substances Act. It was the first plant-based cannabis drug to
be approved by the FDA. The most significant part of the decision is that the
drug can be distributed through traditional pharmaceutical channels to patients
based on a prescription from a doctor. It also means that the odds of
successful commercialization of cannabis-based therapeutics have been greatly
increased, both in the U.S. and globally, per the article.
ETST (OTCQB: ETST), a marketer of high purity and high grade
full spectrum cannabidiol (CBD), believes that once the DEA’s decision goes
into effect, it will be easier for companies to plan clinical studies with CBD.
It also emboldens ETST’s strategy of becoming a licensed distributor that plans
to work closely with researchers and pharmacists to serve the growing cannabis
market (http://ibn.fm/d5WKH).
James Minutello, CEO of Leaf Logix, a Glendale, California,
company that manufactures business management software for the cannabis market,
stated in the article, “We’re one step closer to finally ending prohibition and
legitimizing the industry.”
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www.QualityStocks.com
480.374.1336 Office
Editor@QualityStocks.com
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