Published On: Wed, Apr 6th, 2016

DEA to Reconsider Scheduling of Marijuana in US

For years, marijuana has been classified as a Schedule I drug by the Drug Enforcement Agency (DEA). Politicians have sent letters to the DEA requesting a review of this classification, which specifies the drugs are not fit for medical use. As more and more research comes to the public eye with positive results for medical marijuana, it has become increasingly difficult for the DEA to turn a blind eye to the industry which has grown in the shadows for decades. With that said, the DEA issued a 25-page letter announcing their intent to review their classification for marijuana. This review is expected to be completed and released to the public within the first half of 2016.

Companies like Cannabis Science, Inc. (OTC: CBIS) and GW Pharmaceuticals PLC (Nasdaq: GWPH) have been on the forefront of researching cannabis for medical purposes, and so far results have been promising. Research has shown that not only can cannabis treat certain forms of cancer, but it can also be used to treat autism and other mental illnesses, physical pain, and viral infections with impressive efficacy. Not only that, but these treatments can be much more cost-effective and carry a fraction of the side effects of other readily available treatment options on the market today.

The DEA’s announcement is a great thing not only for cannabis companies and their investors, but also for the public as a whole. Rescheduling would allow companies to research cannabis-based treatments much more easily and affordably. This will allow companies to bring potentially lifesaving treatments from concept to patient hands in a much shorter timeline. Decreasing the amount of red tape for companies to get through for testing and licensing will also help cut bottom line product costs for patients. As you can see, this decision impacts society large and should be given a great deal of attention. We applaud the DEA for finally catching up and making an effort to review their antiquated judgement.

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