Welcome to the Cannabis Countdown. In This Week’s Edition, We Recap and Countdown the Top 10 Marijuana and Psychedelics Industry News Stories for the Week of July 6th – 12th, 2020.
Without further ado, let’s get started.
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10. First-Ever Psilocybin Legalization Ballot Measure Qualifies for the November 2020 Election
While 2020 may seem like a year to forget for many obvious reasons, it’s shaping up to be a year to remember for drug policy reform as several other Psychedelics, and Cannabis initiatives have also qualified for the fast-approaching November ballot.
9. As Pennsylvania’s Medical Cannabis Sales Soar, Recreational Market Prospects Brighten
Pennsylvania’s medical cannabis market, praised for its smooth operation, is expected to nearly double to $400 million-$500 million in sales this year and reach $1 billion in sales within three or four years.
READ FULL PENNSYLVANIA ARTICLE
8. Closing in on Equal Access For All: The Evolution of the Psychedelics Industry
What that means for this industry is finding more and better ways to get Psychedelics ready for a mainstream patient base.
READ FULL PSYCHEDELICS INDUSTRY ARTICLE
7. White House Completes Review of CBD Guidance From FDA
The White House recently completed its review of pending Food and Drug Administration (FDA) guidance on marijuana and CBD research—though it remains to be seen whether the draft document will ultimately be released to the public.
6. MagicMed Industries Files First Psychedelic Derivative Patent
MagicMed Industries announced that it has filed a provisional patent application with the United States Patent and Trademark Office (USPTO) covering composition of matter, drug formulation and process of preparation claims for novel Psilocybin derivatives.
Companies working in the Psychedelics industry have also listed on the TSX Venture Exchange and the NEO Exchange in Canada. Several other companies in the sector are actively raising capital from the investment community to develop their business, and have plans to “go public” in Canada.
READ FULL PSYCHEDELICS SECTOR ARTICLE
4. Top Canadian Police Association Says It’s Time To Decriminalize All Drugs
The top police chiefs association in Canada made a bold call for drug policy reform on Thursday, arguing that low-level possession should be decriminalized and substance misuse should be treated as a public health matter.
ATAI is a Global Biotechnology Company Builder That Envisions an End to Mental Illnesses
ATAI Life Sciences has acquired a majority stake in New York-based pharmaceutical company Kures, which targets the important intersection between pain and opioid use disorder. Additionally, Srinivas Rao, MD, PhD, Chief Scientific Officer of ATAI Life Sciences, has been appointed CEO of Kures.
2. Bipartisan State Treasurers Call For Marijuana Banking Protections in Next Coronavirus Bill
A bipartisan coalition of state treasurers sent a letter to congressional leaders on Wednesday, asking that they include marijuana banking protections in the next piece of coronavirus relief legislation.
READ FULL CANNABIS BANKING ARTICLE
1. Illinois Saw Record-Breaking Marijuana Sales in June, Including From Out-of-State Visitors
In the middle of a global pandemic and one of the worst unemployment crises in American history, Illinois marijuana retailers saw their busiest month on record in June, racking up more than $47.6 million in total sales.
Photo by Esteban Lopez on Unsplash
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