News 
Market Data 
Discover
Replies to post #185149 on Blum Holdings Inc (BLMH)
05/14/16 4:01 PM
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.
Rescheduling could bring another important benefit for pot businesses. They are eager to rid themselves of a burdensome tax provision — known as 280E — that prohibits businesses that deal in schedule I and II controlled
Most marijuana companies and advocates ultimately want to see the drug descheduled, like alcohol and tobacco. (In this scenario, it's widely believed that a pharmaceutical marijuana industry would splinter off and be regulated by the FDA like other prescription drugs.) "Rescheduling marijuana could be regarded as a step in the right direction, but it isn't enough," Oregon Congressman Earl Blumenauer wrote in a statement. "Anything less than descheduling will only continue to trap marijuana businesses between state and federal laws. It's unfair and wrong. To provide the necessary certainty marijuana businesses need, marijuana should be removed from the schedule altogether."
AI
