Cannabis Countdown: Top 10 Marijuana Industry News Stories Of The Week
Welcome to the Cannabis Countdown. In this week’s rendition, we’ll recap and countdown the top 10 Marijuana Industry News stories for the week of February 3rd – 9th, 2020.
Without further ado, let’s get started.
Hemp entrepreneurs in California are optimistic that long-awaited state legislation to legalize hemp-derived CBD as an ingredient in food, beverages and cosmetics will be revived from suspension and ready for Gov. Gavin Newsom to approve by spring.
GW Pharmaceuticals (NASDAQ:GWPH) along with its U.S. subsidiary Greenwich Biosciences, Inc., announced it has submitted a supplemental New Drug Application (sNDA) to the U.S. Food and Drug Administration (FDA) for Epidiolex® (cannabidiol) oral solution, CV. The sNDA seeks to expand the Epidiolex label to include the treatment of seizures associated with Tuberous Sclerosis Complex (TSC), a rare genetic condition. Epidiolex is currently approved in the U.S. to treat seizures associated with Lennox-Gastaut syndrome (LGS) or Dravet syndrome and has been granted Orphan Drug Designation from the FDA for the treatment of TSC.
Canada’s federal health regulator received more than 1,100 responses from the public for its review of the potential market for cannabis health products, demonstrating strong industry interest in the potential new category. Current rules prohibit the use of cannabis in natural health products and veterinary health products.
Cannabis recruitment firm Vangst recorded a 79% increase from 2018 to 2019 in total available jobs in the industry.We’ve rounded up the six top-earning positions in the cultivation, extraction, manufacturing, and retail sectors of the cannabis sector.
Over the past 12 months the expanding industry has created 33,700 new jobs nationwide, making legal marijuana the fastest-growing industry in America. As of January 2020, Leafly’s annual Cannabis Jobs Report found 243,700 full-time-equivalent jobs supported by legal cannabis.
The feds are scrambling to address the UN’s proposed policy changes for marijuana worldwide, according to an unverified, unclassified government document. If the document’s contents are legitimate, however, it could signal that the U.S. government is finally giving up on keeping weed outlawed under the nation’s most restrictive category, Schedule I.
In just over one year, legal cannabis sales in Massachusetts — a state with the population of 6.9 million — reached more than half of legal sales for the entire country of Canada, according to a U.S. national cannabis law firm.
On a per-capita basis, Illinois had the second-best first-month of recreational cannabis sales in U.S. legalization history. These 4 U.S. based Cannabis Stocks are staking a claim in the new lucrative Illinois adult-use cannabis market.
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