InvestorsHub Logo

EZ2

08/11/16 10:19 AM

#19252 RE: excel #19251

U.S. refuses to reclassify marijuana, but allows more research of potential benefits

MARKETWATCH 10:17 AM ET 8/11/2016

DEA says not enough proof marijuana is safe, effective medicine

The Drug Enforcement Administration Thursday rejected petitions to remove marijuana from its list of the most dangerous drugs -- a category that includes heroin and ecstasy -- while at the same time announcing a new policy to support expanded research into the substance.

In long-awaited responses, DEA Acting Administrator Chuck Rosenberg said his decision to deny the petitions filed in 2009 and 2011 was based on government findings that marijuana has a high potential for abuse, coupled with a lack of evidence that it is a safe, effective medicine.

The petitioners had wanted the agency to remove marijuana from its current listing on "Schedule I," a category for drugs considered to have a significant abuse potential without any offsetting medical use.

At the same time, the DEA announced a new policy aimed at increasing the supply of marijuana available for researchers. For nearly 50 years, the U.S. has relied on a single grower to produce marijuana in a system designed primarily to support federally-funded research, as opposed to commercial product development.

The new policy will allow more people to register with the DEA to grow marijuana "not only to supply federally-funded or other academic researchers, but also for strictly commercial endeavors funded by the private sector and aimed at drug product development," the DEA said.

An expanded version of this report appears at WSJ.com (http://www.wsj.com/articles/u-s-refuses-to-reclassify- marijuana-but-will-support-more-research-1470924635?mod=mktw).

-Kate O'Keeffe ; 415-439-6400; AskNewswires@dowjones.com


(END) Dow Jones Newswires
08-11-161017ET
Copyright (c) 2016 Dow Jones & Company, Inc.