CCMA Political greenBrief
Tuesday, December 4, 2018
Bill Heriot, Founder Of Liposome Formulations Inc., Is Planning Clinical Trials With The FDA On Drugs That Contain Tetrahydrocannabivarin (THCV), One Of The Rarest Cannabinoids
“I don’t want to overstate this — I don’t know if it’s going to be the next tobacco or not — but I do think it has a lot of potential.”Senate Majority Speaker Mitch McConnell On The Lift Of The U.S. Hemp Ban
“No, what we’re talking about is just creating a pathway for states to have federal recognition of legalization by enacting appropriate regulation that creates a safe and reliable marketplace.”Dawson Hobbs, Senior Vice President For The Wine & Spirits Wholesalers Of America, On Their Call For The End Of Federal Cannabis Prohibition
Falsified California Testing Lab Data May Result In Major Marijuana Product Recall (CA – Cannabis Testing)
Marijuana Business Daily (December 3, 2018) Sacramento-based Sequoia Analytical Labs surrendered its business license after a state inspection discovered that the company’s lab director had been falsifying cannabis product testing results for almost four months and hundreds of marijuana products may now have to be recalled and retested. The loss of a lab could pose a significant problem for the California cannabis industry heading into January, when more testing requirements will go into effect for toxins such as heavy metals.
California Cannabis Vape Cartridge Makers Facing Counterfeit Products Hurdle (CA – Cannabis Products)
Marijuana Business Daily (December 4, 2018) Mainstream industry brands have long contended with product knockoffs ranging from North Face jackets to Rolex watches. Now the problem is increasingly appearing in the marijuana industry – with vaporizer cartridges a key target. An example is Mammoth Distribution, an exclusive distributor for Heavy Hitters, a line of disposable cannabis vape cartridges in California.
Congress Is Poised To Finally Lift Its Longstanding Ban On Industrial Hemp (USA – Hemp Industry)
The Hill (December 4, 2018) House and Senate leaders announced that they have come to an agreement on a reconciled version of The Agriculture Improvement Act of 2018 (farm bill) — must-pass legislation that is reauthorized by Congress every five years. However, for the first time ever, provisions have been included in the act to lift the federal government’s longstanding ban on the commercial production of industrial hemp.
Hemp Industry Sees Profitable Harvest As Farm Bill Approaches Finale (USA – Hemp Industry)
KTIC (December 4, 2018) With the end in sight for the 2018 U.S. Farm Bill, which contains provisions likely to grant hemp full agricultural legalization, and revenues from existing hemp products rising, hemp farmers are seeing reasons for excitement this fall. Four years ago, it would have been virtually impossible to talk about a hemp industry in the United States. As a variety of the cannabis plant, hemp had been made illegal under legislation decades ago despite not containing significant quantities of the active drug compound that gets marijuana users high from other distinct forms of cannabis.
Will Hemp-Derived CBD Be Fully Legal With Passage Of The 2018 Farm Bill? Not Quite… (USA – Hemp Legalization)
The National Law Review (December 4, 2018) Public interest in the potential health benefits of CBD (cannabidiol) is responsible for a whole new market segment of health and wellness foods and supplements that features CBD as an ingredient. To appreciate the impact of the 2018 Farm Bill on the legality of hemp-derived CBD, it is necessary first to address the current legal landscape and relevant federal agencies. All products made from industrial hemp, including CBD oil, will be legal under the CSA if they contain no more than 0.3 percent THC.
Bay Area Cannabis Researchers Claim Breakthrough Against Chronic Diseases (CA – Medicinal Cannabis)
The Mercury News (December 4, 2018) A Marin County medical cannabis and pharmaceutical coalition says it has found a way to ramp up production of one of the rarest compounds produced by marijuana flowers that early studies have shown could be a way to treat diabetes, lower cholesterol and provide other health benefits. This cannabinoid known as THCV, or tetrahydrocannabivarin, is considered one of the rarest cannabinoids and is only found in trace amounts in most strains of the plant.
Next House Agriculture Committee Chair Might Grow Hemp On His Farm (USA – Hemp Farming)
Marijuana Moment (December 4, 2018) The incoming chair of the U.S. House Agriculture Committee is considering growing hemp on his own farm after the passage of the Farm Bill, which contains provisions to legalize the crop. While the House version of the Farm Bill didn’t include industrial hemp legalization, unlike the Senate-passed legislation, it was adopted into the final conference committee version, top lawmakers confirmed last week. The text of the legislation won’t be released until the Congressional Budget Office finalizes its analysis of the bill’s costs.
Major Alcohol Association Briefs Congress On Marijuana Legalization (USA – Cannabis Investments)
Marijuana Moment (December 3, 2018) One of the nation’s leading alcohol industry associations held a briefing on Capitol Hill on Friday to tell lawmakers and congressional staffers about its position on marijuana legalization. The Wine & Spirits Wholesalers of America (WSWA) became the first major alcohol association to call for the end of federal cannabis prohibition in July. At last week’s briefing, the group reaffirmed that stance, emphasizing that the federal government should allow states to legalize marijuana without interference.
Navigating Cannabis Legalization 2.0 (USA – Legalization)
The Hill (December 4, 2018) With Michigan legalizing marijuana earlier this month, nearly 25 percent of the U.S. population now lives in states that passed ballot initiatives to allow businesses to produce and sell cannabis. And with a new Gallup poll showing that two in three Americans support legalizing cannabis use, other states are sure to follow, likely building pressure to change federal laws. National-level legalization, when and if it happens, would require an act of Congress.
The Best Marijuana Stocks In November (USA – Cannabis Investments)
The Motley Fool (December 4, 2018) This has been a truly game-changing year for the cannabis industry. Despite this, marijuana stocks suffered through their second consecutive rough month in November. Out of 40 of the largest marijuana stocks by market cap that have been publicly traded for at least a month, 26 of them (65% of all pot stocks) fell in November. Of these decliners, 17 dipped by a double-digit percentage. As for the gainers, 10 of the 14 pot stocks that finished higher did so by a single-digit percentage, with five rising by less than 2.2%.
Cannabis Firm Confirms Investment Talks With Marlboro Maker (Canada – Cannabis Investments)
BBC News (December 4, 2018) Altria, the maker of Marlboro cigarettes, is in talks with a Canadian cannabis producer over a potential investment in the firm. Canada’s Cronos Group confirmed the discussions but said it had not yet reached an agreement. It follows reports that Altria was in talks to acquire Cronos as it moves to diversify from traditional smokers. Cronos confirmed in a statement “it is engaged in discussions concerning a potential investment by Altria Group Inc. in Cronos Group.”
Minnesota OKs Medical Marijuana To Treat Alzheimer’s (MN – Medicinal Cannabis)
MPR News (December 3, 2018) Minnesota Alzheimer’s disease patients will be eligible to use medical marijuana in their treatment starting next August. State Health Department officials announced Monday they’ve added Alzheimer’s as qualifying condition to receive medical cannabis. The decision, part of the department’s regular process to review requests for treatment, means patients suffering from the crippling neurological disorder can enroll starting in July with their doctor’s approval.