Additional Revenues from Potential State Legalization
June 24, 2018
Despite Recognition of Injustice, Arrest Rates for Cannabis Remain Unequal
July 8, 2018Additional Revenues from Potential State Legalization
June 24, 2018Despite Recognition of Injustice, Arrest Rates for Cannabis Remain Unequal
July 8, 2018
- The FDA last week approved UK-based GW Pharmaceuticals’ Epidiolex, a “pure plant-derived CBD” extract shown to drastically reduce seizures in children with epileptic syndromes.
- Marking the FDA’s first-ever approval of a cannabis-derived pharmaceutical product, the DEA has 90 days (until September 23) to schedule Epidiolex, a landmark decision being carefully scrutinized by the industry at large.
- Sales of Epidiolex will effectively open the pharmaceutical CBD market; the Hemp Business Journal (a division of New Frontier Data) forecasts the drug to generate between $15 million and $30 million in sales through 2018, and $180 million in 2019.
- HBJ expects the DEA to schedule Epidiolex as a Schedule IV drug and recommend that CBD be rescheduled from a Schedule I drug.
- Continued regulatory action by the FDA is expected against illicit claims and sales of unapproved, CBD-related products marketed with unproven medical claims.
