Blum Holdings Inc (BLMH)

[Art Vandeley]

"The FDA approval process for a scheduled drug isn’t something to take lightly. Every edible and product on the shelf may have to undergo its’ own process of approval, meaning that a jar of cannabis coconut oil would have to go through a separate approval process as the cookie on the shelf right next to it. Depending on the DEA and FDA’s decision about how to regulate cannabis as a scheduled narcotic, every strain may have to go through individual testing. According to Rolling Stone:

If the federal government determines that medical marijuana must be subjected to FDA approval, companies would have to enter a process that can take years to complete and cost more than $1 billion per product. Few, if any, cannabis companies in the U.S. have the resources for that, which might open the door for Big Pharma to muscle in and take over the business. "They could put every medical provider in the country out of business in a matter of months," says Dean Heizer, chief legal strategist at LivWell, one of Colorado's largest marijuana companies."