It has been reported that the U.S. Food & Drug Administration (“FDA”) will review the medical evidence surrounding the safety and effectiveness of marijuana, which could lead to governmental agencies downgrading the drug’s current status as a Schedule I Controlled Substance, the most dangerous drug classification, according to recent media reports commented upon in a timely press release by Cannabis Therapy Corp.
Written testimony provided to a congressional hearing by Douglas Throckmorton, Deputy Director for Regulatory Programs at the FDA, confirm reports that the DEA has been petitioned to change marijuana’s classification and indicated that the request was sent to the FDA. The FDA responded by beginning an eight-factor analysis including drug abuse potential, pharmacological effects, and health risks.
Currently, marijuana is a Schedule I Controlled Substance, which is defined as a drug that “has no currently accepted medical use … lacks accepted safety for use under medical supervision … and is further undisputed that the drug has at least some potential for abuse sufficient to warrant control”. Other substances unfortunately lumped together under the same classification include dangerous illicit drugs like heroin, MDMA, and LSD.
Cannabis Therapy Corp., a development-stage company aiming to become a leader in the research, development and commercialization of safe, all-natural, THC-free cannabinoid-based medicinal therapies and supplements, could be one of many beneficiaries of such policy changes. The company’s current focus is on THC-free, hemp-based products, to avoid violation of current federal marijuana laws.
“A classification downgrade makes perfect sense given the growing body of evidence to support a wide number of medicinal benefits associated with cannabis extracts and products,” said Cannabis Therapy Corp. President & CEO Soren Mogelsvang. “With 22 states already permitting medical marijuana and two of them … allowing recreational use, it’s clearly the time for a reconciliation.”
The differences between U.S. federal law and U.S. state law have been a source of confusion for medical marijuana patients, law enforcement, and companies trying to navigate a state-endorsed industry that is at odds with federal law. New federal laws governing the use, manufacturing and distribution of medical marijuana products would remove these uncertainties and provide assurance for the booming cannabis industry – particularly, the stakeholders, public and private companies and investors operating in the sector.
Cannabis Therapy Corp. is currently focused on using industrial hemp for their product development. Hemp is a type of cannabis with low THC content and hemp foods have already been fully legalized under federal law following the February 2004 court case of HIA v. DEA, where a judged ruled that the DEA could not regulate natural THC that’s not contained within or derived from marijuana.
“Once everyone is on the same page, we can really move ahead and build a lawful and responsible industry that can deliver health benefits and revenues in a win-win environment for both consumers and stakeholders alike,” added Dr. Mogelsvang.
For more information on Cannabis Therapy, see the following resources:
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