Category: CannabisNewsWire Release

420 with CNW — Missouri Court Dismisses Suit Against Cannabis Ballot Initiative

Cannabis reform activists in Missouri received a reprieve after a state court dismissed a lawsuit against a ballot initiative that seeks to legalize cannabis in Missouri and facilitate the expungement of nonviolent cannabis-related charges. Soon after a cannabis reform initiative by Legal Missouri 2022 received state certification, prohibitionists filed a lawsuit asking that the initiative be dismissed.

With the backing of Protect Our Kids PAC, Community Anti-Drugs Coalitions of America (CADCA) member Joy Sweeney filed a suit against the cannabis ballot initiative. Her suit claimed that the measure was not in line with single-subject rules for ballot measures as per Missouri’s constitution. Furthermore, the suit argued that there were irregularities in the ballot’s signature verifying process, suggesting that Secretary of State Jay Ashcroft may have intervened improperly.

This may be due to the fact that a state review of signatures found that activists had actually surpassed their signature requirements contrary to early reports that indicated they were struggling to collect enough signatures. Ultimately, the lawsuit was thrown out on procedural grounds, with the court concluding that the plaintiff did not have standing as she could not prove state residency. Although Sweeney claimed to be a resident of Jefferson City, the secretary of state’s office stated that it did not have enough evidence to prove her residency.

Judge Cotton Walker, who eventually dismissed the lawsuit, said that he didn’t agree with Sweeney’s arguments against the legalization measure, stating that its scope and language were in line with the single-subject rule and that Ashcroft’s office verified signatures and certified the measure as per state law. The final judgment stated that even if Sweeney could prove that she was a resident of Missouri, the court would still have dismissed her suit as its arguments did not stand.

Protect Our Kids CEO Luke Niforatos said that the anti-legalization organization plans on appealing the recent ruling. Niforatos said that the secretary of state and Walker “seem to be ignoring their own records,” which shows that Sweeney, the plaintiff, is a Jefferson City resident. He stated that the process was “rife with the appearance of corruption” from the beginning, stating that the secretary of state’s role in invalidating Sweeney’s lawsuit aroused suspicion.

Despite this, legalization activists are happy with the court’s decision to throw out the lawsuit. Legal Missouri 2022 campaign manager John Payne said that the ruling represented another step toward the enactment of a citizen-led measure to legalize, regulate and tax cannabis in Missouri.

If the measure is approved during the November ballot, Missouri residents can look forward to having licensed companies, such as Flora Growth Corp. (NASDAQ: FLGC), that operate in other jurisdictions and serve clients there.

NOTE TO INVESTORS: The latest news and updates relating to Flora Growth Corp. (NASDAQ: FLGC) are available in the company’s newsroom at https://cnw.fm/FLGC

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

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420 with CNW — White House Reveals President Biden Has No Plans to Act on Cannabis Reform Ahead of Midterms

Last week, the White House suggested that President Joe Biden would not be making any cannabis policy moves ahead of the midterms. When asked about whether Biden would discuss cannabis before the election, Karine Jean-Pierre, the administration’s press secretary, acknowledged that questions on the president’s plans for marijuana policy had come up on numerous occasions in press briefings.

Jean-Pierre reiterated that the president’s position on marijuana remained the same: leave the adult-use legalization of cannabis to the states, reschedule the plant, federally decriminalize it and expunge previous records. This is in addition to explaining that President Biden believed that there were too many individuals who were serving long sentences for nonviolent drug convictions, with a significant number of those being Black and brown.

Jean-Pierre also implied that Prez, Biden had no plans to champion reform prior to the midterm elections, despite the fact that cannabis is a strongly popular issue. This comes a fortnight after the press secretary stated that she did not have anything to speak about with regard to the president’s plans to fulfill his marijuana campaign pledges.

Biden first made public comments on issues involving cannabis in July. At the time, he hadn’t yet been asked about his intentions to act upon his campaign pledge to release individuals who had been incarcerated due to non-violent marijuana offenses. When he did finally comment, Biden replied to the question by highlighting that he didn’t believe individuals needed to be imprisoned over the use of marijuana, noting that his administration would work toward fulfilling his clemency promise. In addition to this, he vaguely hinted at a crime measure he believed could address said issue.

Since his tenure began, the president has received numerous letters from advocates, legislators, celebrities and individuals affected by marijuana criminalization, requesting him to do something about the individuals who are still incarcerated over marijuana.

Recently, several senators, including Cory Booker, Bernie Sanders and Elizabeth Warren, penned a letter to the president expressing their frustration over the administration’s failure to address the harms of cannabis criminalization and help change course using executive clemency authority.

In their letter, the legislators highlighted that the Biden administration’s present stance was harming Americans, depriving them of their ability to use the herb for medical or other purposes and impeding research into the plant.

Despite the administration’s reluctance to make headway on the matter, congressional legislators are still working legislatively to end marijuana criminalization.

For instance, Senator. Booker, Senate Finance Committee Chair Ron Wyden and Senate Majority Leader Chuck Schumer recently filed a measure to federally legalize marijuana and promote social equity while also allowing entities such as Cannabis Strategic Ventures Inc. (OTC: NUGS) to operate in accordance with a uniform federal law rather than the current patchwork of laws at state level.

NOTE TO INVESTORS: The latest news and updates relating to Cannabis Strategic Ventures Inc. (OTC: NUGS) are available in the company’s newsroom at http://cnw.fm/NUGS

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

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CNW420 is part of the InvestorBrandNetwork.

CannabisNewsBreaks – Lexaria Bioscience Corp.’s (NASDAQ: LEXX) Hypertension Treatment Program Stands Distinct

Lexaria Bioscience Corp. (NASDAQ: LEXX) recently provided information to its stakeholders to help them conveniently research and understand different non-affiliated third-party sources and their methodologies for valuing biotech and pharmaceutical companies. The information includes a discussion of underlying logic-based evaluations that offer a realistic framework of expectations that investors can use in their analysis. “One of the logic-based evaluations considers the stage at which a company’s drug development program has reached. According to the U.S. Food and Drug Administration (‘FDA’), there are five steps to the drug development process: discovery and development, preclinical research, clinical research, FDA drug review, and, finally, FDA post-market drug safety monitoring. However, not more than about 250 of 5,000-10,000 compounds tested during the discovery stage successfully transition to the third step. Against this backdrop, Lexaria stands out, having completed the first two steps with its DehydraTECH-CBD for hypertension treatment,” a recent article reads. “A guide prepared by Bay Bridge Bio notes that a company’s valuation increases as its drug development progresses from phase I through phase III… Considering the FDA’s recent confirmation that it agreed with Lexaria’s proposal to pursue a 505(b)(2) new drug application (‘NDA’) regulatory pathway, an abbreviated pathway, the company’s drug development program for hypertension therapeutics could wend way to a multi-billion-dollar valuation in due course.”

To view the full article, visit https://cnw.fm/SZI6T

About Lexaria Bioscience Corp.

Lexaria’s patented drug delivery technology, DehydraTECH(TM), improves the way active pharmaceutical ingredients (“APIs”) enter the bloodstream by promoting more effective oral delivery. Since 2016, DehydraTECH has repeatedly demonstrated the ability to increase bio-absorption with cannabinoids, antiviral drugs, PDE5 inhibitors and more. DehydraTECH has also evidenced an ability to deliver some drugs more effectively across the blood brain barrier. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 26 patents granted and roughly 50 patents pending worldwide. For more information, visit the company’s website at www.LexariaBioscience.com.

NOTE TO INVESTORS: The latest news and updates relating to LEXX are available in the company’s newsroom at https://cnw.fm/LEXX

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

To receive SMS text alerts from CannabisNewsWire, text “Cannabis” to 844-397-5787 (U.S. Mobile Phones Only)

For more information please visit https://www.CannabisNewsWire.com

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420 with CNW — King’s College London Plans Largest Study on Marijuana

Over the past two decades, research into the potential benefits and risks of cannabis has revealed that the plant has lots of potential as a treatment for conditions such as chronic pain, insomnia and anxiety disorders. Although cannabis research is still in its infancy, partly because federal prohibition prevented scientists from studying the plant for a long time, preliminary results have been so encouraging that dozens of American states as well as several countries around the world have legalized medical cannabis use.

Most experts still acknowledge that we need to research cannabis more extensively.

There is little data on how long-term medical cannabis treatment affects patients and except for THC and CBD, we barely know anything about the multitude of cannabinoids that are produced by cannabis.

An upcoming study by King’s College London could fill in some of the knowledge gaps that we currently have on cannabis. Titled “Cannabis & Me,” the £2.5 million ($2.9 million) study will be the largest-ever independent study into marijuana use. It will examine the biological and environmental factors that determine how cannabis affects different people.

Researchers will recruit 6,000 participants for the study, making it the biggest independent study into cannabis use so far. They will receive funding from the Medical Research Council, which is tasked with funding medical research in the United Kingdom.

Cannabis has been one of the most-used drugs on the planet for decades, with the World Health Organization estimating that around 147 million people around the globe use marijuana.

We need more research on how marijuana interacts with the brain so doctors can have all the relevant knowledge they need when prescribing medical marijuana to their patients, Cannabis & Me lead researcher Dr. Di Forti says. She notes that although many people consume cannabis daily for both recreational and medical reasons, medical cannabis prescriptions in the UK are still quite rare, mainly due to insufficient knowledge of marijuana’s effect on the brain.

This study is meant to provide physicians with the data and tools they need for them to be comfortable prescribing cannabis treatments to patients. While we already know that cannabis will affect people differently, we don’t have an intimate understanding of the underlying biological and environmental issues that determine how people react to cannabis.

Researchers will achieve this objective by studying the association between biological and genetic makeup with marijuana effects using a combination of DNA testing, cognitive and psychological analysis, and virtual reality.

They are currently recruiting participants between the ages of 18 and 45 from the London area who use cannabis or have used it less than three times or never at all.

The success of this and other ongoing or planned marijuana studies may over time result in the reform of the prohibitive cannabis laws, and companies such as Advanced Container Technologies Inc. (OTC: ACTX) may have an opportunity to facilitate individuals to grow their own medical-grade cannabis in vertical gardens.

NOTE TO INVESTORS: The latest news and updates relating to Advanced Container Technologies Inc. (OTC: ACTX) are available in the company’s newsroom at https://cnw.fm/ACTX

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

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CannabisNewsBreaks – CannabisNewsWire (CNW) to Shine the Spotlight on New Jersey’s First BYOC Event

CannabisNewsWire (“CNW”), a specialized communications platform for the cannabis sector and one of the 50+ brands within the InvestorBrandNetwork (“IBN”) today announced its engagement to serve as a media sponsor and official newswire for the 420 Expo. Presented by Wakit Grinders and hosted by cannabis icon Tommy Chong, the event is slated to take place at the New Jersey Convention & Exposition Center in Edison from Sept. 16-18, 2022. New Jersey’s first-ever BYOC (Bring your own Cannabis) consumer expo, the event is geared to shine a light on the cannabis community and alleviate the stigma around consumption. Organized shortly after legalization in April this year, the timely expo aims to promote meaningful and open conversations and foster a deeper understanding of the industry. “We are pleased to be a part of such an innovative and momentous conference marking New Jersey’s first BYOC event. As a one-of-a-kind event, we are looking forward to providing coverage as the official newswire,” said Cami Cox, director of analytics and reporting for CannabisNewsWire. “With its welcoming environment, limitless educational and networking opportunities, and showcasing of the latest products and services in a rapidly expanding market, 420 Expo is designed to be a great success for many years to come.”

To view the full press release, visit https://cnw.fm/gAFGK

About CannabisNewsWire

CannabisNewsWire (“CNW”), one of 50+ brands within the InvestorBrandNetwork (“IBN”), is a specialized information service that (1) aggregates cannabis news; (2) provides CannabisNewsBreaks to quickly update investors in the space; (3) enhances corporate press releases; (4) provides social media distribution via IBN to millions of social media followers; and (5) delivers comprehensive corporate communication solutions. CNW is uniquely positioned in the cannabis market with a strong team of journalists and writers who can help private and public companies reach a wide audience of investors, consumers, journalists and the general public through our ever-growing dissemination network of 5,000+ key syndication outlets. CNW is bringing unparalleled visibility, recognition and content to the cannabis industry.

For more information, please visit www.CannabisNewsWire.com.

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

To receive SMS text alerts from CannabisNewsWire, text “Cannabis” to 844-397-5787 (U.S. Mobile Phones Only)

For more information please visit https://www.CannabisNewsWire.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW? Ask our Editor

CannabisNewsWire (CNW)
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303.498.7722 Office
Editor@CannabisNewsWire.com

CannabisNewsWire is part of the InvestorBrandNetwork.

CannabisNewsBreaks – Advanced Container Technologies Inc. (ACTX), GP Solutions Collaborate to Develop ‘GrowPod Habitat(TM)’ Systems

Advanced Container Technologies (OTC: ACTX) today announced that the company, in collaboration with GP Solutions, is developing a new series of GrowPods for home and commercial use. According to the update, the new “GrowPod Habitat(TM)” systems are smaller in size and will enable virtually anyone to grow their own food. The systems are designed for the consumer market, as well as for schools, churches, non-profits, and commercial organizations and businesses seeking to grow their own clean, nutritious food while also benefitting from a smaller size unit and reduced cost-of-entry to match their needs and budgets. “Developing this innovative smaller system allows us to enter an enormous new market with tremendous potential,” said Douglas Heldoorn, CEO of Advanced Container Technologies. “Additionally, this ground-breaking form factor will allow people to take control of their food, feed their families, start a new business, or help fight hunger. This could be a game-changer for society in many ways.”

To view the full press release, visit https://cnw.fm/ODf7u

About Advanced Container Technologies Inc.

Advanced Container Technologies is in the business of selling and distributing self-contained, automated, indoor “micro-farms” called Grow Pods, along with related equipment and supplies. Additionally, the company designs and sells patented proprietary medical-grade plastic containers, known as the Medtainer(R), that store and grind pharmaceuticals, herbs, teas and other solids or liquids. For more information, visit the company’s website at www.AdvancedContainerTechnologies.com.

NOTE TO INVESTORS: The latest news and updates relating to ACTX are available in the company’s newsroom at https://cnw.fm/ACTX

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

To receive SMS text alerts from CannabisNewsWire, text “Cannabis” to 844-397-5787 (U.S. Mobile Phones Only)

For more information please visit https://www.CannabisNewsWire.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW? Ask our Editor

CannabisNewsWire (CNW)
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303.498.7722 Office
Editor@CannabisNewsWire.com

CannabisNewsWire is part of the InvestorBrandNetwork.

Lexaria Bioscience Corp. (NASDAQ: LEXX) Strengthens Board of Directors to Boost Efforts toward Regulatory Approval of Potential Treatment for Hypertension

  • Lexaria Bioscience is a global innovator in drug delivery platforms whose lead technology, DehydraTECH, has been shown to increase the bioavailability of APIs
  • The company recently announced that Catherine Turkel, PharmD, Ph.D., has joined its board of directors
  • Dr. Turkel, who brings over 20 years’ experience, has previously formulated Food and Drug Administration (“FDA”) registration and commercial strategic plans, as well as led global development programs for pharmaceutical and biologic treatments
  • Dr. Turkel will lend her drug registration experience and regulatory expertise to Lexaria at a time when the company is journeying toward regulatory approval for DehydraTECH-CBD, its drug candidate for the treatment of hypertension
  • Lexaria recently had a pre-IND meeting with the FDA, where it received positive feedback

Companies should bring on board members with strategic growth experience who have “been there, done that,” a June 2022 article in Forbes advises (https://cnw.fm/MUABF). Strategic growth, the article observes, “is one of the most important areas of governance for boards. The more experience on a board, the more efficient you are at developing tried and tested growth strategies… Members with experience down certain paths can guide a company to anticipate and avoid known obstacles, helping to accomplish goals faster.”

As Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug delivery platforms, charts the long path toward regulatory approval for DehydraTECH(TM)-processed cannabidiol (“CBD”), a prospective treatment for hypertension, the importance of bringing on board members with prior drug registration experience as well as regulatory expertise is not lost on the company. Lexaria recently announced that Catherine Turkel, PharmD, Ph.D., has joined its board of directors (https://cnw.fm/VoiEe).

With more than 20 years’ experience, Dr. Turkel has worked as an executive in start-up and mid-size pharma/biotech companies. She founded and was the CEO of Nezee Therapeutics, served as the President and R&D head at Novus Therapeutics – which has been renamed Eledon Pharmaceuticals Inc. (NASDAQ: ELDN) – and currently serves as an independent Board Director at private company Object Pharma and non-profit Prostate Cancer Research. She is also a Dean Advisor at Chapman University School of Pharmacy.

Dr. Turkel has formulated Food and Drug Administration (“FDA”) registration and commercial strategic plans and spearheaded global development programs for pharmaceutical and biologic treatments from Phase 1 through Phase 4 across such therapeutic areas as otology, urology, aesthetics, ophthalmology, rare diseases, psychiatry, cardiovascular, neurosciences, and pain. At a previous stint working with Allergan – now a part of AbbVie (NYSE: ABBV) – Dr. Turkel designed and led the pharmaceutical company’s BOTOX(R) Chronic Migraine registration program, leading to revenue of over a billion dollars.

“Lexaria is delighted to welcome Dr. Turkel as we continue to position the company for advancement following our recent successful pre-IND (pre-investigational new drug) meeting with the FDA,” commented Lexaria Chair and CEO Chris Bunka. “Catherine’s practical development and regulatory expertise will be of increasing value to Lexaria, and we look forward to working with her.”

The onboarding of Dr. Turkel comes on the heels of a Pre-IND meeting regarding Lexaria’s DehydraTECH-CBD for the treatment of hypertension. Reporting that the meeting had yielded positive feedback from the FDA, the company’s August 10 announcement noted that the FDA had seconded its proposal to pursue an abbreviated regulatory pathway that would enable a faster route to commercial approval (https://cnw.fm/ilZ4B). In addition, the FDA favorably received the company’s proposed Phase 1b clinical trial protocol that will involve ~100 patients with hypertension with the intention of opening the IND application to allow Lexaria to work toward full registration of its potential treatment.

“As a result of the favorable FDA response, Lexaria expects to remain on track to file its full IND application with the FDA by late 2022/ early 2023, as previously announced. This is up to 6-9 months sooner than if the FDA had required modifications in Lexaria’s current IND-enabling work plan, such as performance of additional non-clinical study work,” the August 10 news release reads.

Lexaria has shown, through human testing, that DehydraTECH-processed CBD delivers promising results with no serious adverse effects. In 2018, the company administered the substance to 12 participants in a human clinical study (“HCS”) that evidenced 317% more CBD delivered to the blood at 30 minutes than controls. Moreover, three HCSs conducted in 2021, HYPER-H21-1, HYPER-H21-2, and HYPER-H21-3, evidenced rapid and sustained drop in blood pressure, a 23% average drop in overnight blood pressure and reduced arterial stiffness, and attenuated pulmonary artery systolic pressure, respectively (https://cnw.fm/MHOCj).

For more information, visit the company’s website at www.LexariaBioscience.com.

NOTE TO INVESTORS: The latest news and updates relating to LEXX are available in the company’s newsroom at https://cnw.fm/LEXX

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CannabisNewsWire.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW? Ask our Editor

CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

CannabisNewsWire is part of the InvestorBrandNetwork.

420 with CNW — Study Says Pharma Industry Loses Billions as Cannabis Legalization Spreads

Over the past two or so decades, a growing body of scientific research has proved that cannabis has the potential to treat a variety of medical conditions. Even though federal law classifies cannabis as a Schedule I controlled substance with no medical applications, studies have found that the drug can be effective against inflammation, anxiety disorders, chronic pain and high blood pressure, among other things.

As people become more cognizant of the short- and long-term side effects of using pharmaceutical medications, “safer” alternatives such as cannabis have grown increasingly popular. Dozens of states now allow their residents to purchase and consume cannabis for medical purposes, with most people using medical marijuana to alleviate pain.

A first-of-its-kind study has now revealed that the pharmaceutical industry stands to lose almost $10 million a year with each state that legalizes cannabis, costing the industry untold billions of dollars in losses over the next few decades. The research analyzed prescription drug sales and stock return data from more than 500 pharmaceutical companies from 1996 all the way to 2019, focusing on market trends before and after the passage of state medical and recreational cannabis laws. Researchers found that each legalization event had a negative impact on the industry, decreasing stock returns by 1.5 to 2% within days after cannabis reform was passed.

Study authors write that pharmaceutical companies saw their returns falter in the wake of both medical and recreational legalization, with investors in both brand and generic drug makers expecting an average annual sales reduction of $3 billion with each legalization event. This may be because cannabis has appealed to millions of Americans who want a safer, side-effect-free alternative to pharmaceutical medications.

Lots of data-based studies, observational analyses and anecdotal reports have indicated that more people are turning to cannabis as an alternative to conventional prescription drugs such as sleep medication and opioid-based painkillers. In addition, one 2022 study that examined Medicaid data on pharmaceutical prescription drugs found that cannabis reform is often associated with significantly reduced prescription medication use.

But the researchers from the California Polytechnic State University and the University of Mexico say their new study on the economic impact cannabis legalization will have on Big Pharma is completely novel. They say that cannabis will disrupt the pharmaceutical industry for a couple of reasons.

One, cannabis is largely unpatentable, meaning it may be a new generic entrant into the market that could pull patients away from prescription drugs. Second, medical cannabis is versatile and isn’t restricted to treating a limited set of conditions, allowing it to break into several different drug markets at once.

The financial impact on pharmaceutical firms could be massive, the study concludes, stating that each legalization event could end up costing companies around $9.8 billion.

As more health conditions are added onto the list of qualifying conditions for medical marijuana, the sales of cannabis companies such as Cannabis Strategic Ventures Inc. (OTC: NUGS) look set for a sustained upward trajectory in the years to come if innovation and awareness of consumer needs are consistently kept at the fore.

NOTE TO INVESTORS: The latest news and updates relating to Cannabis Strategic Ventures Inc. (OTC: NUGS) are available in the company’s newsroom at http://cnw.fm/NUGS

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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420 with CNW — California Cannabis Authority Enters Partnership with CPPC

California was the first state to legalize medical and recreational cannabis use in America. More than two decades later, the Golden State boasts the largest cannabis industry in the country with hundreds of licensed cannabis businesses generating billions of dollars in cannabis sales. The California Cannabis Authority (CCA), which is in charge of regulating California’s mammoth cannabis sector, recently announced that it has entered a partnership with Cannabis Public Policy Consulting (CPPC).

The partnership is expected to bring super-advanced data analytics, comprehensive and up-to-date data sets as well as expert consulting to cannabis regulators in the state. CPPC director Mackenzie Slade said that the partnership is the latest in efforts to update how Californian cities and counties handle cannabis regulation by providing them with the best tools and practices to help them make “fact-driven decisions.”

Formed by California counties to help local governments regulate cannabis more effectively and efficiently, the CCA provides local governments with access to a top-notch data analytics platform that delivers up-to-date intelligence, and commercial cannabis activity reports that allow them to make data-based decisions quickly and efficiently. CPPC, on the other hand, is a consultancy that exclusively deals in the cannabis industry, providing data-driven consulting services to shift the national discourse on marijuana policymaking to focus on sustainability, equity and public health.

Slade said the partnership is built on the belief that improving marijuana policymaking and the public outcome of these policies is dependent on data and analytics platforms such as NCS Analytics. By partnering with the California Cannabis Authority, the consultancy will grant local policymakers in the state access to leading experts on cannabis policy and crucial data analytics. Since CCA has close ties with member counties in the state as well as in participating public agencies and cities, this partnership could have a major impact.

Counties that benefited from CCA’s top-of-the-line data analytics and public consulting services will also be able to access experts from CPPC, with the consultancy offering CCA members discounted consultancy services. More specifically, CPPC will provide consulting on how to structure a competitive and equitable market, tax revenue modeling, drafting cannabis regulations, and stakeholder and community engagement through every step of cannabis reform.

CCA members will be able to leverage the consultancy’s expertise when it comes to designing end-to-end programs or providing solutions to certain challenges. CCA executive director and counsel Greg Turner noted that the partnership would allow local governments in California to create new cannabis licensing programs that are specifically tailored to different communities.

It remains to be seen how individual companies in California such as American Cannabis Partners will benefit in real terms from this new partnership between the CPPC and the CCA.

NOTE TO INVESTORS: The latest news and updates relating to American Cannabis Partners are available in the company’s newsroom at https://cnw.fm/ACP

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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420 with CNW — California Governor Enacts Laws Providing Marijuana Use Protections to Patients

With more than 30 states legalizing the use of cannabis for medical purposes, America is home to one of the largest medical cannabis industries in the world. Despite being criminalized for decades and classified as a Schedule I drug with no medical applications, cannabis has proven to be effective at mitigating a wide variety of medical conditions. However, the fact that federal law still outlaws medical cannabis means that patients who use the plant for medical purposes as per state law are often at risk of discrimination.

In a bid to prevent this from happening, California Governor Gavin Newsom recently signed into law a bill that would protect medical marijuana patients against healthcare discrimination. As the first state to legalize recreational and medical cannabis in the United States, California now has what could be the largest cannabis industry in the country as well as the most medical marijuana patients. Statista estimates that the state had a total of 2 million medical cannabis patients as of July 2020.

State lawmakers have been keen on advancing policies that would protect these patients from discrimination as they seek healthcare. The government officials managed to deliver a couple of bills to the governor’s desk just as the end of the legislative session drew to a close, with Newsom signing SB 988 from Senator Ben Hueso and AB 1954 from Assemblyman Bill Quirk into law.

AB 1954 contains protections for medical cannabis patients and bars doctors from discriminating against patients in states with legal medical cannabis markets by refusing to issue them medication based on positive THC tests. Furthermore, the bill also provides protections for physicians who treat medical marijuana patients in legal states. This legislation will be crucial for the industry because it clarifies a key issue: how do physicians deal with patients when they test positive for THC?

In the past, patients have complained about being cut off from their opioid treatments for chronic pain after their doctors found out they use medical cannabis. California NORML director Dale Gieringer said in a press conference that many doctors falsely believe that they cannot prescribe medications to patients who use medical cannabis.

There is enough scientific evidence proving that cannabis is an effective and safe treatment for chronic pain, physician Larry Bedard argues, and eliminating patients who use medical cannabis to manage their chronic pain from pain management programs is irresponsible and unethical. Now that AB 1954 has been signed into law, doctors will not be allowed to discriminate against patients based on their medical marijuana use as long as they are acting in accordance with state law.

With the enactment of these laws protecting users of medical marijuana, it isn’t far-fetched to believe that the entire cannabis industry in the state, including entities such as Prime Harvest Inc., is hopeful that other regulatory issues which are still holding back the industry from reaching its full potential will also gradually be addressed.

NOTE TO INVESTORS: The latest news and updates relating to Prime Harvest Inc. are available in the company’s newsroom at https://cnw.fm/PRIME

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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CannabisNewsWire420
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