Blum Holdings Inc (BLMH)

[Skoman]

Here's an interesting article about how the FDA is looking into re-scheduling marijuana. It was linked to an FDA news watch I subscribe to at work.

http://www.marketoracle.co.uk/Article46175.html

Of course, it's politics as usual. Our elected officials, both Dems and Reps, are seeing the light with elections looming in the not to distant future. But lobbyists for the prison industrial complex are in full force to keep MJ as a schedule 1 so they don't loose out on overcrowding populations and more gov't appropriations.

Long and short of it, The DEA has been petitioned again to reclassify MJ. The FDA plays a major role in the decision process for reclassification since they are the entity that says whether or not the drug has high addictive qualities and/or any known medical use. With 20+ states already allowing MMJ, and more states following, along with the general population's increased approval of MMJ, the FDA is starting to see the writing on the wall. In 2001 and again in 2006 the FDA recommended that MJ stay a schedule 1 drug. I'm hoping this review will be much more positive.

There are synthetic MJ drugs on the market, but not any derived from botanicals. However, that is changing with clinical trials already in the making. The process, however, for clinicals to take place is still painstakingly slow, and uses 3 additional and separate gov't agencies to initiate the trial 1) DEA 2) NIDA and 3) NIH.

For more reading on how the FDA is looking at MMJ follow this link.

http://www.fda.gov/drugs/developmentapprovalprocess/ucm401879.htm

I'm certainly not advocating that the FDA be involved. They have a strong relationship with big Pharma and that may well be an inherent barrier rather than a boon for the sector. But this is how the reclassification is going to go down...whether we like it or not.