FDA approves first drug derived from cannabis
Cannabis based medicines made major strides this week; the drug Epidiolex received FDA approval, becoming the first cannabis-derived medicine to do so. GW Pharmaceuticals makes the high CBD medication, which contains less than .1% THC, and is used to treat rare forms of childhood epilepsy.
Although early trials of the drug proved successful, cannabis’ status of Schedule 1 drug under the Controlled Substances Act requires the DEA to also approve the medication. The drug is expected to be available this Fall, and analysts believe the drug could reach $1.3 billion in annual sales by 2022.
Oklahoma voters approve progressive medical cannabis bill
State Question No. 788 asked registered voters in Oklahoma if they approve of the use, sale, and growth of medicinal cannabis. The ballot measure received plenty of support, passing by a 57% to 43% margin, making the Sooner State the 30th in the nation to allow broad access medicinal cannabis. What makes the proposal unique is the fine-print within the bill; unlike other states, doctors won’t have to abide to a specific list of diseases and disorders, and can instead authorize patients to use cannabis however they see fit.
Adult-use cannabis hits Vermont
Vermont citizens can start celebrating Independence Day early this year, with cannabis prohibition set to end July 1st. Residents can legally smoke, grow, and possess up to an ounce of cannabis. Buying, and selling cannabis remains illegal, but local representatives believe this to be a step in the right direction. “It’s a huge deal, and it’s been a long time coming,” said Eli Harrington, a cannabis advocate who founded Heady Vermont.
Big3 becomes first US-based professional sports league to allow CBD
The Big3 is new to the scene of professional basketball, but it’s already making headlines with its progressive league-rules, which now allows players to legally use CBD. The 3 on 3 basketball league believes the usage of CBD to fight pain is a ‘no brainer’ and hopes that it will spark a greater conversation within professional sports. “Hopefully us doing this for our players will also send a message out there that we need to make decisions not based on politics but based on medical data and actually treat each other humanely,” said Jeff Kwatinetz, founder and CEO of the Big3.
Lagunitas Brewing reveals cannabis-infused drink
Hi-Fi Pops, a THC-infused sparkling water drink will soon be available at licensed cannabis dispensaries in California. The Petaluma based brewery has released cannabis themed drinks in the past, but this will be the first time the drinks actively host active THC chemicals. Consumers will have two drinks to choose from, with one containing 10 milligrams of THC and the other containing 5 milligrams of both THC and CBD. Lagunitas found a way around potential legal issues by partnering with CannaCraft; instead of infusing THC in their home-base brewery, the craft beer giant simply makes the sparkling water and packaging, while CannaCraft handles the THC infusion.