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A Texas court has dismissed a lawsuit brought by Canadian cannabis producer Canopy Growth against GW Pharmaceuticals, although Canopy has the right to appeal the ruling.

As research broke over the past two weeks that cannabis products such as CBD, cannabinoid acids and even synthetic cannabis compounds might prevent or treat COVID-19 infections, excitement among entrepreneurs spread.

More research saying cannabinoids might protect human cells from COVID-19 was released this week by scientists in Ontario, Canada, who work with synthetic CBD.

The inclusion of delta-8 THC in the U.S. Drug Enforcement Administration’s “orange book” of controlled substances in May 2021 left manufacturers, retailers, consumers and even attorneys scratching their heads.

Investors as well as cannabis companies and executives are rushing into psychedelics, a multibillion-dollar opportunity that reminds some of the early days of marijuana – although this infant industry could play out much differently.

Other than a few FDA-approved cannabinoid-based medications such as Sativex, Marinol and Epidiolex, cannabis products meant for medical use are recreational marijuana products that might lack rigorous safety, dosing, and efficacy studies essential for medical drugs.

Intellectual property is playing an increasingly important role in cannabis industry acquisitions and other deals as businesses look to get a leg up on rivals by purchasing or investing in companies holding valuable patents, trade secrets, copyrights and trademarks, experts said.

Jazz Pharmaceuticals’ planned $7.2 billion takeover of United Kingdom-based GW Pharmaceuticals could kick off a wave of deal-making between pharma and medical cannabis companies, analysts and industry sources say.

Global pharma company Jazz Pharmaceuticals has reached an agreement to buy U.K.-based GW Pharmaceuticals, one of the largest medical cannabinoid businesses in the world, for $7.2 billion in cash and stock, the drugmakers announced Wednesday.

Canadian cannabis producer Canopy Growth Corp. is suing Britain’s GW Pharmaceuticals in U.S. federal court, alleging that GW is knowingly infringing upon Canopy’s intellectual property.

Public health insurance reimbursements for cannabis in Germany have fallen for the second straight quarter.