Exploring the Potential of Marijuana Rescheduling for Medical Research

Home » Potential of Marijuana Rescheduling for Medical Research
Garry Stewart
Written By Steve Brandon

May 18, 2024

exploring the potential of marijuana rescheduling for medical research

While the federal government is ready to transfer Marijuana from Schedule 1 to Schedule 3 meaning from the most dangerous to least dangerous drug. But this won’t make any changes in the regulation that has been implemented related to the research and approval of the drug. Can the marijuana-based industry expect a big demand for this reason? Let’s learn about it further!

It is important to point out that the Drug Enforcement Agency which is in the US has only licensed firms that could apply cannabis products for research and there are over 600 scientists who have been granted access to carry out their research and studies related to marijuana.

Richard Shain who is the CEO of Maridose said it is expected to skyrocket demand for marijuana once the rescheduling of marijuana is approved.

Preparation for the Growth in Demand

Maridose, located in Florida, has rented a pilot facility in Maine. This company recently concentrated on collecting funding which they hope will be secured by mid-2024. This funding will allow them to grow and move toward their plans.

Although marijuana is still in Schedule 1 status, Maridose concentrates on getting broader biotechnology research and medicine development. This gives an assurance to the investors that they don’t have to worry about the marijuana connection.

Eric Berlin who is a lawyer at the international law firm Denton believes that if marijuana is reclassified then that could lead to more demand for research and research supplies. This reclassification will make it easier for researchers in hospitals or universities to perform studies on marijuana.

Berlin also mentions that the current issue regarding the approval for cannabis research would become less of a problem in the future due to the rescheduling of the marijuana.

The Path towards FDA approval has still not changed

The path towards the FDA approval for Marijuana has still not changed despite all the efforts. The medical marijuana and marijuana research expansion act fast in 2022 tried to streamline the approval process for research by reducing the period for DEA approval.

However both the U.S. representatives Earl Blumenauer and Andy Harris criticized the DEA and the Department of Health and Human Services (HHS) as they were left dissatisfied. They pointed out the fact that approvals were not given within the 60-day window.

Berlin pointed out the fact that scheduling marijuana might provide profit for many companies but seeking FDA approval for marijuana-based drugs remains strict and it has to go through multiple phases for approval.

Rescheduling of marijuana might not affect the state marijuana program immediately but it could boost the confidence of the investors which was lacking in the past. This change would lead to positive changes like regulation for the tax treatment and mainly the industries will continue to grow.

exploring the potential of marijuana rescheduling for medical research

What does our team of my MMJ doctor think about this?

Our team thinks that this rescheduling of marijuana will lead to mainly positive changes, especially for those who want to invest in this. They can easily think about investing in the marijuana industry without any worry. But our team also said that yes FDA approval is important and they need to make the approval process faster and easier to carry out.

Conclusion

Agreeing for the rescheduling of marijuana to Schedule III will bring improved conditions like boosting investor confidence and financial benefits, which will lead to the great growth of these companies. Further, it will take care of obstacles in research and the creation of more goods and services. Though they might find themselves at the other end of the FDA approval process for these marijuana-based drugs, the road is going to be long and tiresome for them.

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