March 2022 - Page 2 of 7 - CannabisNewsWire

TuesdayMar 29, 2022 4:20 am

420 with CNW — Analysis Shows That Federal Cannabis Prosecutions Continue Downward Trend

The U.S. Sentencing Commission analysis has found that cannabis federal prosecutions decreased again last year, with fewer than 1,000 individuals being charged in marijuana trafficking cases. These marijuana busts make up a little more than 5% of the total drug-related cases that went through the federal justice system last year, which shows that more federal officials have adopted policies that place less emphasis on pursuing individuals over cannabis, especially now as more states move to legalize marijuana. The report also found that the average sentence for a cannabis trafficking offense was 30 months, which is roughly one-half of the sentence…

MondayMar 28, 2022 4:20 pm

420 with CNW — Bipartisan Legislators Want Administration to Champion Ending UN Cannabis Ban

Bipartisan congressional legislators recently filed a measure asking President Joseph Biden to urge the United Nations (UN) to end its marijuana ban. This would be achieved by dropping the plant from the list in the international drug treaty of controlled substances. The resolution was introduced by Rep. Nancy Mace (R-SC) and Rep. Barbara Lee (D-CA) just as the UN's Commission on Narcotic Drugs (CND) finished its meetings in Vienna. The commission adopted a proposal in 2020 that would take cannabis off the strictest international drug category, the Schedule IV list, while retaining the federal Schedule I classification The resolution wants…

MondayMar 28, 2022 4:20 am

420 with CNW — How the US Cannabis Industry Weathered COVID-19 Crisis

The cannabis industry has been through a lot since COVID-19 became a global pandemic in March 2020. It was during that year when sales reached record levels and business strategies shifted to accommodate people during lockdown. As many pandemic-related restrictions are being lifted, some aspects of the space, including online ordering, delivery and drive-thrus, seem likely to remain despite not being as widely used. During the second-half of 2020, most businesses had a fair recovery. Whereas in 2021 according to Scott Lee, CEO of Massachusetts-based cannabis company Theory Wellness, stimulus checks and other programs helped to ensure that businesses remained…

FridayMar 25, 2022 4:20 pm

420 with CNW — 2022 May Be Great Year for Pharmaceutical Cannabis

Last year was a good year for the recreational and medical marijuana industry, with major pharmaceutical companies entering the medical space. Many believe that this year will be even better for pharmaceutical marijuana, given the strides the industry has taken. For instance, huge pharmaceutical marijuana mergers and acquisitions deals were sealed last year, including GW Pharmaceuticals’ acquisition by Jazz Pharmaceuticals. which was valued at $7.2 billion. Pfizer also entered into an arrangement to purchase Arena Pharmaceuticals for $6.7 billion while Dermapharma Holding SE purchased C3, Canopy Growth’s subsidiary for about $93 million dollars. In addition to this, Teva Pharmaceuticals also…

FridayMar 25, 2022 9:30 am

Flora Growth Corp. (NASDAQ: FLGC) Reaches Agreements Green-Lighting High-THC Cannabis Exports from Colombia, and Outlets for Premium CBD Skin Care Product in Asia

Cannabis product cultivator Flora Growth Corp. operates a premium growing facility in central Colombia and has received a growing list of authorizations to export its cannabis products for varied health and wellness purposes Flora Growth’s authorized distribution of low-THC CBD cannabis derivatives has been recently expanded to include a quota of up to 43,600 kg of products with high-THC cannabis Flora also reached agreement with Israel-based DNO Group to further commercialize Flora’s Mind Naturals skin care products through potential distribution outlets in Hong Kong, with plans to build into outlets in Israel and India later Colombia has also authorized the…

FridayMar 25, 2022 4:20 am

420 with CNW — New Report Shows That Marijuana Legalization Hasn’t Caused Increase in Use Among Youth

Last week, the Coalition for Cannabis Policy, Education and Regulation released a report showing that the legalization of marijuana at the state-level didn’t lead to an increase in consumption among the youth. The analysis provides insights on various methods of prevention and points to studies which refute claims that the establishment of regulated marijuana markets would lead to an increase in the number of underage individuals consuming cannabis. Such claims have often been made by marijuana prohibitionists. The tobacco and alcohol industry-backed cannabis policy group has many members, including Constellation Brands, Molson Coors Beverage Company, the Council of Insurance Agents…

ThursdayMar 24, 2022 4:20 pm

420 with CNW — Debates Arise Over How States Can Spend Millions from Marijuana Taxes

Cannabis has been one of the fastest-growing industries in the country for the past couple of years bringing in billions of dollars in sales and tax revenue. Over the pandemic, cannabis sellers saw month-over-month sales records while other sectors stagnated. Over the course of 2021, states with legal marijuana markets generated more than $3 billion in tax revenue from cannabis sales. A Marijuana Policy Project report shows that this is a slight improvement over the $2.7 billion states collected in 2020. States with legal cannabis markets are now debating how to spend the taxes raised from the sale of this…

ThursdayMar 24, 2022 4:20 am

420 with CNW — Canada Introduces Proposal to Increase Marijuana Beverage Purchase Limits

As the cannabis industry matures, the cannabis-infused beverage segment is expected to offer fierce competition to other types of cannabis products. Market experts project that the segment will grow at a compound annual growth rate of 16% to achieve a valuation of $2 billion by 2026. Canada, which first allowed the production and sale of cannabis beverages in late 2019, has proposed a policy change that would allow consumers to purchase more cannabis beverages at one time. The federal government has asked for public comments regarding a proposed change in cannabis regulation that would increase the number of cannabis beverages…

WednesdayMar 23, 2022 4:20 pm

420 with CNW — French Government Announces Decree Allowing Growing of Medical Marijuana

Last month, the French government issued a decree that allowed the growing of medical marijuana and development of the industry. The enactment took effect on March 1, 2022; however, it awaits implementation by regulators. The act features conditions and procedures for the growth and production of medical cannabis. It has also amended some clauses in the Code of Public Health to permit cultivation, production, processing, transport, possession, import and export of cannabis and its components under medical mandate. The development of the medicinal cannabis supply chain will be overseen by the National Agency for the Safety of Medicines and Health…

WednesdayMar 23, 2022 4:20 am

420 with CNW — VA Suicide Prevention Program Will Not Include Cannabis Treatment

Medical cannabis use among veterans has been a hot topic since states first started legalizing marijuana for medical use. While drug-reform proponents believe the plant has the potential to help veterans deal with chronic pain and mood disorders such as anxiety and post-traumatic stress disorder, others say it is federally prohibited for good reasons, with one being that it is a gateway drug with no medical application. This is despite research debunking this reason on numerous occasions. The latter opinion seems to be shared by the U.S. Department of Veteran Affairs (VA), the government body in charge of administrating benefit…

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Month: March 2022