Tag: marijuana

U.S. Drug Agency Schedules Cannabis Hearing

The U.S. Drug Enforcement Administration (DEA) has scheduled a Dec. 2 hearing on its proposal to lower the classification of marijuana to the less dangerous level of Schedule III, according to a public announcement late Monday.
The DEA had never issued any timeline for its process to potentially change the Schedule I classification of cannabis for the first time since the Controlled Substances Act went into effect in 1970. Still, some in the cannabis industry had hoped for a final decision before the U.S. election.
The DEA had already received 43,000 comments on its proposal, initially made on May 21, with a comment period that closed late in July. The DEA said the comments included requests to hold a public hearing.
DEA administrator Anne Milgram said she would determine who will participate in the hearing and name a presiding officer to run the meeting, which will take place on Dec. 2 at 9 a.m. Eastern Time at 700 Navy Drive, Arlington, Virginia.
The government said the meeting may also be moved to a different location, continued from day to day, or recessed to a later date without notice.
August 27, 2024
White House Asked to Reclassify Marijuana
Vapor Voice Archives
The U.S. Drug Enforcement Administration plans to reclassify marijuana as a less dangerous drug, which could have far-reaching implications for American drug policy.
The proposed measure, which is yet to be reviewed by the White House Office of Management and Budget, aims to acknowledge the medical benefits of using cannabis and recognize the fact that it is less prone to abuse in comparison to some of the most dangerous drugs in the country and reclassify cannabis as a Schedule III drug.
However, it does not seek to legalize marijuana for recreational purposes.
Five people familiar with the matter who spoke on the condition of anonymity to discuss the sensitive regulatory review confirmed the agency’s move to the AP on Tuesday. The move clears the last significant regulatory hurdle before the agency’s biggest policy change in more than 50 years can take effect.
According to the DEA, the following are examples of Schedule I drugs:

Heroin
Lysergic acid diethylamide (LSD)
Cannabis
Methamphetamine
Methaqualone (Quaalude)
Peyote
According to the National Institute for Health, California became the first State to make it illegal to possess cannabis. In the 1930s, the then U.S. Federal Bureau of Narcotics warned of the increasing abuse of cannabis, and by 1937, 23 States had criminalized possession.
By 1970, the Controlled Substances Act passed, and the Federal government categorized marijuana as a Schedule I substance.
The planned DEA rule change followed an August 2023 recommendation from the Department of Health and Human Services (HHS) that DEA reschedule marijuana from Schedule I to Schedule III. Any change to the status of marijuana via the DEA rulemaking process would not take effect immediately.
May 2, 2024
BAT Ups Investment in Organigram

Credit: Roxxy Photos
Organigram Holdings Inc. has extended its relationship with British American Tobacco. The move boosts the Canadian cannabis producer’s financial strength and positioning it to expand globally.
Organigram said in a statement that BAT is investing a further $90.5 million in the business, building on an initial $160 million injection back in 2021.
Organigram said the investment will allow it to extend its footprint beyond Canada, and also strengthen its financial position for long-term, sustainable growth, according to media reports.
“This investment bolsters an already strong balance sheet and solidifies our position as a leading cannabis company,” said Beena Goldenberg, chief executive of Organigram.
The firm said the deal enables it to invest in growing the topline of its core business, while optimizing operations to deliver on cost-saving efficiencies, thus accelerating earnings growth.
Organigram will use the majority of the investment to create a strategic investment pool, named Jupiter.
Jupiter will target investments in emerging cannabis opportunities that will enable Organigram to apply its industry-leading capabilities to new markets, it said.
November 8, 2023
Marijuana Stocks Rise After Democrats Wins

Photo: Photo: forcal35 from Pixabay
Marijuana stocks have risen this week following the victories of Raphael Warnock and Jon Ossoff, both Democrats, in Georgia’s Senate election runoffs, reports Fox Business. Following President-elect Joe Biden’s win, Democrats will now have control of the presidency as well as both chambers of Congress. Democrats will have 50 seats in the Senate, giving Vice President-elect Kamala Harris the tie-breaker vote.
Canopy Growth, the first marijuana stock to ever be publicly traded in North America, is up 13.2 percent since the election. Shares of Green Thumb stock are up more than 10 percent.
“This new slate of leadership presents an incredible opportunity for national cannabis reform in the United States—the beginning of the end for the long-outdated prohibition on cannabis,” David Culver, U.S. vice president of government relations at Canopy Growth, told Fos Business. “We feel confident that Congress, with the support of the incoming Biden administration, and particularly Vice President-elect Kamala Harris who was an original sponsor of the MORE [Marijuana Opportunity Reinvestment and Expungement] Act, can achieve full federal legalization in the very near future.”
The Marijuana Opportunity Reinvestment and Expungement Act (MORE) Act was passed by the House in December, but Senate Majority Leader Mitch McConnell denied bringing it to a Senate vote. This may change under the incoming Biden administration, however.
While Harris was against marijuana legalization while working as district attorney and attorney general in California, she changed her position in the Senate to co-sponsor the MORE Act. Biden, as well, favored decriminalizing marijuana during his 2020 presidential campaign.
Green Thumb Founder and CEO Ben Kovler predicts that a fully legalized marijuana market in the United States could be an $80 billion to $100 billion industry, according to Fox Business.
“Consumers are choosing; they’re replacing alcohol,” Kovler said. “Consumers 35 and under are choosing cannabis over alcohol. We’re seeing seniors, 60 and over, choose this to replace things like Ambien, or pain meds [for] arthritis. There are all kinds of different uses for the plants as we turn the plants into consumer products.”
Further legalization of marijuana could open new opportunities for tobacco farmers faced with declining demand for their crops.
In 2018, U.S. Congress legalized hemp with less than 0.3 percent THC, the psychoactive component in cannabis, in all 50 states. Since then, some tobacco farmers have either shifted to growing hemp or added it to their repertoire as an additional income source. Some major tobacco companies have taken stakes in the cannabis industry in recent years. Altria Group, for example, purchased a stake in Cronos Group, a leading global cannabinoid company, headquartered in Toronto, Canada. Pyxus International, the parent company of leaf tobacco merchant Alliance One International, purchased a 40 percent share in Criticality, an integrated industrial hemp company.
The global industrial hemp market size is expected to reach $15.26 billion by 2027, exhibiting a revenue-based compound annual growth rate (CAGR) of 15.8 percent over the forecast period, according to Grand View Research. Additionally, according to Global Market Insights, the cannabidiol (CBD) market exceeded $2.8 billion in 2019 and is set to grow at around 52.7 percent CAGR between 2020 and 2026, with the global market valuation for CBD crossing $89 billion by 2026.
The opportunities presented by legal marijuana extend also to suppliers of the tobacco industry. For example. German tobacco machinery maker Hauni recently developed equipment or cannabis processing.
January 11, 2021
Vaping popular with teenagers
Vaping is popular with US teenagers, with more than one-third of high school students reporting in 2015 having tried electronic cigarettes, according to a story by Rachel Becker for The Verge (Vox Media), citing a new report from the US Centers for Disease Control and Prevention (CDCP).
And teenagers aren’t always using electronic cigarettes to deliver nicotine.
To evaluate electronic cigarette use, the CDCP and the US Food and Drug Administration examined surveys filled out by 17,000 middle and high school students across the US in 2015.
About 38 percent of high school students and 13 percent of middle school students reported that they had tried electronic cigarettes.
The story indicated that those figures could be underestimates since the students were reporting their own behavior and since surveys based on self-reports were known to be unreliable.
It wasn’t clear whether that lack of reliability could mean also that the figures were overestimates or not meaningful.
In the latest CDCP report, one-third of electronic cigarette users reported using their devices for something other than nicotine.
The report didn’t specify what the students were using their vaping devices for, if not for nicotine delivery, but other studies were said to have pointed to pot as the most likely substance.
More than half of the electronic cigarette vapers used refillable systems, as opposed to disposable devices.
Although most of the students didn’t know what brand of electronic cigarette they were using, the ones who did used blu and VUSE most frequently.
December 30, 2016