CCMA Political greenBrief
Friday, July 13, 2018
“The worry is that you’re seeing companies in Canada get a head start on us. That means I’m either building my company to be a great standalone firm … in anticipation that federal policy in the U.S. will change … or I want to position my firm to be the most attractive takeout target it can be as (Canadian) companies look to the U.S. to deploy capital.”
Derek Peterson, CEO Of Irvine, CA Based Terra Tech, On How Canada’s Market Has An Affect On The U.S. Market
“We’ll continue to support rigorous scientific research on the potential medical uses of marijuana-derived products and work with product developers who are interested in bringing patients safe and effective, high quality products.”
FDA Commissioner Scott Gottlieb On Scientific Cannabis Research
EVENT: Metrc – California’s Track And Trace System And What It Means For Manufacturers, Retailers And CultivatorsJoin the CCMA and Metrc experts from California and Colorado, which has already implemented Metrc, and get to know some of the software vendors that integrate with Metrc. Metrc is the track and trace system chosen by the state of California. Every license holder up and down the supply chain, cultivators, manufacturers, brands, testing labs, retailers, will have to report to the Metrc system. Are you prepared?July 17th in Santa Monica. 6-9pmCBD Products Are Everywhere, But Is CBD Legal? Not Exactly (USA – Cannabis Industry)Vice (July 11, 2018) It’s pretty easy to tell if recreational marijuana is legal in your state—you can walk into a store and buy it, you drive past 15 pot-leaf billboards on your way to work, and the smell is everywhere. But the legality of cannabidiol, weed’s won’t-get-you-high sibling, is trickier. Wherever you live, CBD (one of the main components of the cannabis plant, along with THC) is likely freely available.Difficulties Of Commercial Cannabis Laid Out In Seminar (CA – Cannabis Market)Enterprise Record (July 12, 2018) Though marijuana is now legal in California, it isn’t always easy to buy and it can be especially difficult for entrepreneurs who are forced to navigate a convoluted bureaucracy to get into the industry. At a cannabis seminar Wednesday evening in San Jose, business leaders and government officials from around the state gathered to discuss the roadblocks the legal marijuana industry faces and, more importantly, where it’s headed.What’s Lurking In California Bud? (CA – Cannabis Testing)Leafly (July 12, 2018) California’s legal recreational cannabis supply is now cleaner than the state’s food. Starting July 1, all cannabis products sold at licensed stores must undergo rigorous analytical testing before they can be sent to retailers. More than two dozen licensed labs are charged with conducting the assays for potency and purity, which have been phasing in since the new year. Stores either ship samples or courier them to the labs, which try to turn around results in five days. Here’s what labs are testing for, as required by the state Bureau of Cannabis Control.Cannabis Boom Or Bust: How US Firms Could Be Affected By Canada’s Adult-Use Market (USA – Cannabis Market)Marijuana Business Daily (July 12, 2018) It’s crunch time for Canada’s cannabis companies as they hustle to prepare for the October launch of the country’s legal recreational market. South of the border, everyone tied to the legal marijuana scene is watching closely to gauge whether this historic milestone might translate into an economic boom for U.S. firms as well.Big Money Tests Marijuana Waters, With Hedge Funds Leading Charge (USA – Cannabis Investments)Bloomberg (July 12, 2018) Navy Capital’s one-room office in midtown Manhattan could probably fit in the coat closets of many of its competitors. But the hedge fund’s digs belie the firm’s success in betting on something few of its peers will touch: cannabis. Since the Navy Capital Green Fund launched in May 2017 the company said it’s increased assets under management to almost $100 million from $10 million and returned more than 100 percent net of fees last year.Jeff Sessions Stonewalls Permission For Medical Marijuana Research (Cannabis Research)CATO Institute (July 12, 2018) Even as public opinion shifts in favor of marijuana legalization, with sixty percent of Americans supporting broad legalization and ninety percent supporting medical use, Attorney General Jeff Sessions and the Department of Justice (DOJ) continue to stonewall efforts to expand availability of cannabis and cannabis-derived treatments for medical research. In testimony to a Senate Appropriations subcommittee in April, Sessions argued that although recent studies have shown that access to medical marijuana reduces opioid overdose deaths, the evidence to support expanding access is still insufficient.DEA Moving Forward With Reclassification Of CBD Ahead Of GW’s Launch of Epidiolex (USA – Medicinal Cannabis)BioSpace (July 12, 2018) The U.S. Drug Enforcement Agency is in the midst of readdressing cannabis following the regulatory approval of the first cannabinoid-based drug for the treatment of some epilepsy patients. In June, the U.S.Food and Drug Administration (FDA) gave the nod of approval to GW Pharmaceuticals’ Epidiolex as a treatment for seizures associated with two rare forms of epilepsy, Lennox-Gastaut syndrome (LGS) and Dravet syndrome.OP-ED: Democrats Still Haven’t Figured Out That Legal Weed Is A Winning Issue (USA – Legal Cannabis)Los Angeles Times (July 12, 2018) Every Democratic U.S. senator rumored to be considering a 2020 presidential run supports marijuana legalization. So do 77% of Democratic voters. The party’s 2016 national platform backs states’ rights on cannabis and calls for a “reasoned pathway for future legalization.” So why is the Democratic Congressional Campaign Committee — the entity charged with winning back control of the U.S. House — attacking a Republican congressman over his support for marijuana reform? And why is it citing a right-wing magazine to make the case?Governor of Hawaii Vetoed Bill Allowing Cannabis For Opioid Addicts (HI – Medicinal Cannabis)High Times (July 11, 2018) Despite overwhelming support from lawmakers, Hawaii Gov. David Ige has vetoed a bill that would have allowed medical marijuana treatments for opioid and substance use disorders. The veto comes six months after the Hawaii State Legislature introduced the SB 2407, which passed by a large majority in early May. But by late June, Gov. Ige had announced his intention to veto the legislation. And on Tuesday, he followed through, returning SB 2407 to lawmakers without approval.
