Two big news items dominated the cannabis industry this week: the re-scheduling of GW Pharmaceuticals PLC- ADR GWPH 1.01%’s cannabis-derived drug, Epidiolex, from the Schedule I category to the Schedule V category; and High Times’ acquisition of Dope Magazine for $11.2 million in cash and stock.
Green Market Report CEO Debra Borchardt told Benzinga the DEA’s move was “a step in the right direction.” However, she noted “the DEA stressed that it basically only applied to this specific drug. A lot of headlines were screaming that CBD is now a Schedule V drug and that is completely incorrect.
“It’s such a huge contradiction to state that cannabis for Epidiolex is medicine, but other cannabis isn’t,” she said. “Perhaps with this glaring contradiction, the stage will be set to at least legalize CBD in the near future and maybe this is the government’s way to take baby steps towards that eventual outcome.”
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