Hemp Industry News

Time is right for marijuana entrepreneurs to enter the global market

(This is an abridged version of a package that appears in the May-June issue of Marijuana Business Magazine.) North American marijuana entrepreneurs who believe it’s too early to look at international opportunities should reconsider their position. Federally licensed cultivation companies in Canada – Canopy Growth, Tilray, Aurora Cannabis and Cronos Group, to name a few – already are […]

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Investment firm offers CA$1M seed money to Canadian marijuana entrepreneurs

A major investment company is putting 1 million Canadian dollars ($780,000) on the table for aspiring cannabis entrepreneurs in Canada. Canopy Rivers Corp.’s program is open to entrepreneurs looking to access Health Canada’s proposed new licenses for micro-cultivation, nurseries, industrial hemp, processing, analytical testing, retailers and other emerging segments. “This is a way to help […]

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Thailand set to unveil medical cannabis law

A draft law to greatly expand medical cannabis regulations in Thailand is expected to be unveiled this week, a move that executives say will open the door to potentially millions of dollars in investments. In the works since last year, the draft narcotics code will permit medical marijuana research on humans. The law will first […]

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How India can become a global cannabis leader: Q&A with Bombay Hemp’s Avnish Pandya

India’s medical marijuana industry will blossom if companies use science to convince regulators that MMJ is an effective medicine. That’s the view of the country’s only licensed medical cannabis cultivator. Avnish Pandya, co-founder of Bombay Hemp Company, said the best way to develop India’s medical marijuana industry is for companies to work with regulators to […]

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Week in Review: SBA says no to cannabis, Maine advances rec MJ & Scotts Miracle-Gro shrinks

The U.S. Small Business Administration bars banks from issuing SBA-backed loans to marijuana- and hemp-related companies, Maine lawmakers override a veto of key adult-use legislation, and Scotts Miracle-Gro consolidates its cannabis operations. Here’s a closer look at some notable developments in the cannabis industry over the past week. SBA shuts off the spigot Small businesses […]

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New SBA lending rules could curb loans to marijuana and hemp businesses

The U.S. Small Business Administration updated its lending guidelines with new rules that could have a major impact on businesses servicing the marijuana and hemp industries – not just plant-touching companies. The revised guidance, published in early April, prohibits banks from issuing SBA-backed loans to any company that has a direct business relationship with a cannabis or […]

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Despite historic inroads, federal marijuana reform faces uphill climb before midterm elections

Political support for reforming federal cannabis laws appears to be snowballing: Senate Majority Leader Mitch McConnell, Senate Minority Leader Chuck Schumer, President Donald Trump and former House Speaker John Boehner all recently signaled varying levels of support. In short, a variety of pro-cannabis bills – from hemp legalization and tax reform to granting MJ businesses […]

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FDA advisory panel gives thumbs-up to CBD epilepsy treatment

A CBD treatment for epilepsy is closer to becoming the first cannabis medicine approved for the U.S. market. A panel of government health advisers gave a unanimous recommendation Thursday to the U.S. Food and Drug Administration to approve Epidiolex, a CBD medicine for rare epilepsy conditions that don’t respond to other drugs. The panel voted […]

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Here’s how the FDA’s review of epilepsy drug could affect CBD companies

It’s shaping up to be a watershed summer for the cannabis industry with the U.S. Food and Drug Administration poised to approve the first drug made from the plant.

The agency’s impending decision on Epidiolex, an epilepsy treatment made of CBD extracted from cannabis flower, could upend decades of government insistence that the plant has no medicinal value.

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Impending ruling on epilepsy drug has CBD industry on alert

The most disruptive product to hit the newly legal hemp industry might be one that will never be sold directly to consumers. GW Pharmaceuticals, a London-based biotech company, is awaiting a final decision from the U.S. Food and Drug Administration to produce the first cannabis-derived treatment to win approval as legal medicine. The decision on […]

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FDA seeks public input on whether cannabis, CBD should be descheduled

As the cannabis plant awaits a high-stakes review from international health authorities, the U.S. Food and Drug Administration (FDA) is asking the public to weigh in on whether cannabis, CBD and other cannabis extracts should be declassified as a controlled substance.

The United Nations’ World Health Organization (WHO) made a preliminary announcement in December that CBD has a low potential for abuse and shouldn’t be scheduled as a controlled substance.

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