420 with CNW — Analysis Finds Significant Number of US Employees Failing Cannabis Drug Tests

A study by testing company and medical lab Quest Diagnostics has revealed that Americans are failing marijuana tests in unprecedented numbers. The firm’s annual analysis found that the number of U.S. employees who tested positive for marijuana was the highest Quest Diagnostics had seen since it started collecting data on workplace drug testing in 1988.

After analyzing more than 6 million urine tests for traces of marijuana in 2022, the firm found that 4.3% were positive for cannabis compared to 3.9% in 2021. Quest Diagnostics tested urine samples from general employees. This group excludes safety-sensitive and federally mandated employees, such as truck drivers and pilots who go through regular drug testing.

Now that dozens of states have medical and recreational cannabis markets, millions of Americans have access to legal, regulated cannabis. However, since federal law still considers cannabis an illegal drug, cannabis users often find themselves facing legal repercussions for using cannabis in accordance with their state laws.

Quest’s data shows that despite the risks involved, American workers are consuming cannabis in greater numbers. The firm also revealed that 7.3% of general employees tested positive for cannabis following accidents on the job while 6.7% tested positive in 2021.

On the other hand, only 0.98% of employees in federally mandated safety-sensitive jobs tested positive for cannabis in 2022 up from 0.86% of employees in 2021.

Keith Ward, Quest Diagnostics general manager and vice president for employer solutions, suggested that the increase in cannabis use among employees may be due to evolving societal attitudes toward cannabis that are “impacting workplace behaviors.” In addition, Suhas Harwani, the company’s senior director of science for employee solutions, states that medical and recreational cannabis markets generally have higher rates of positive marijuana tests compared to the national average.

Unsurprisingly, states without legal marijuana markets had lower cannabis positivity rates. The report showed that 5.7% of general employees in states with legal recreational markets tested positive for cannabis in 2022 while the national average for marijuana positivity that year was 4.3%. Conversely, general employees in states with only medical cannabis markets had a positivity rate of 3.9%.

Several states across the country have adopted liberal policies toward cannabis over the past couple of decades, with more than 30 states now allowing their residents to use medical marijuana for specific conditions. In fact, the cannabis industry is now one of the fastest-growing sectors in the country, generating billions of dollars in revenue and hiring hundreds of thousands of employees.

Lawmakers are now working to pass cannabis banking regulations and legalize cannabis at the federal level.

Given that more than 30 states across the country permit the medical use of marijuana, it isn’t surprising that entities such as IGC Pharma Inc. (NYSE American: IGC) are taking this medical use a step further by developing formulations that can be approved by the FDA for use within the healthcare system.

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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 — NIDA Director Wants Cannabis Products Federally Regulated

According to a senior federal health official, cannabis products must be controlled as states continue to legalize marijuana. Nora Volkow, director of NIDA, stated that while it would be ideal if states took their time enacting reform, the reality is that they are enacting reform and people need to know what they can do to lessen negative impacts. Volkow asserted that it is crucial to regulate the sale of products and inform the public about potential negative consequences.

The official’s remarks are noteworthy because, although she did not specifically demand federal reform, such a shift in policy would be required to impose controls on interstate marijuana sales on a national level.

Volkow also acknowledged new studies looking into a potential connection between marijuana usage and an increased risk of psychosis, noting that regrettably, cannabis may not be as innocuous as it appears. Although Volkow cautioned against the potential risk of heavy use of marijuana products with high potency, she stated in 2021 that she hasn’t yet seen proof that occasional marijuana usage by adults is detrimental.

When it comes to regulations, Congress has sponsored multiple legalization measures in recent sessions, but none of those bills have been passed. The end result has been a hodgepodge of state-level regulatory frameworks.

This month, Volkow stated before a senate committee that there is growing evidence that psychedelics have a major potential as treatments for some mental health issues and that this is a subject of tremendous interest for academics. In recent years, the director has also turned into a strong opponent of drug criminalization generally, pointing out racial inequalities in enforcement and the futility of addressing addiction as a criminal rather than a public health issue.

According to Volkow, the criminalization of drugs has led to a systemically racist society where Blacks are regarded differently from other groups. Additionally, she discussed the link between drug criminalization and racial prejudice in 2021, stating that the United States is now dealing with a long history of discriminatory and racist laws, many of which are still in place today.

In a blog post from last year, Volkow stated that there is a pressing need to rethink addiction therapy, particularly by allocating more funds to diagnosing pre-addiction to enable patients to receive care before the condition.

Given the concerns being expressed about the high potency of the marijuana that is currently available, companies seeking to avail standardized medicines from cannabis, such as IGC Pharma Inc. (NYSE American: IGC), deserve to be applauded because those formulations, once approved, can offer users a safe way to benefit from cannabis compounds without exposing themselves to any potential risks associated with consuming high-potency marijuana while addressing their medical needs.

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420 with CNW — AMA Study Says Medical Cannabis Causes Sustained, Significant Health Improvements

A recent study conducted by the AMA has revealed a significant relationship between the utilization of medical cannabis and notable enhancements in the quality of life experienced by individuals grappling with conditions like insomnia and chronic pain. In a comprehensive retrospective analysis, the researchers examined a sample of 3,148 individuals from Australia that had been prescribed medical cannabis to alleviate symptoms associated with various qualifying diseases.

The study found that cannabis appeared to be beneficial for all eight well-being indicators that were examined, with negative side effects that were infrequently severe.

Throughout their treatment, patients were tasked with assessing their overall well-being across eight distinct categories using a scale ranging from 0 to 100. These categories included bodily pain, general health, physical functioning, mental health, physical role restrictions, emotional role restrictions, vitality and social functioning.

The survey was administered to patients at approximately 45-day intervals, resulting in a total of 15 check-ups. The study discovered that those who used marijuana reported an average benefit range of 6.5 to 18.30 points on a scale of 100. Among the medical conditions for which cannabis has been prescribed, the ones that stood out were chronic pain, accounting for a substantial 68.6% of cases; pain resulting from cancer treatment at 6.0%; insomnia, with a prevalence of 4.8%; and anxiety disorders, accounting for 4.2% of cases.

Patients used a wide range of marijuana products with different cannabinoid compositions, dosages and intake techniques. Even so, there was little difference between the final effects. The researchers also noted a limitation in the study’s retrospective analytic technique, which resulted in a lack of control, making extrapolating the findings more difficult.

This study is only one of many recent research projects showcasing the medicinal advantages of marijuana, reflecting the growing global trend of countries revising their cannabis regulations. For instance, another AMA study revealed that patients with chronic pain who used medical marijuana for more than a month experienced a considerable drop in the amount of opioids they were prescribed.

Last year, the AMA released studies that revealed a significant correlation between the legalization of cannabis in certain states and a reduction in opioid prescriptions among specific cancer patients. Moreover, numerous other studies have consistently demonstrated a connection between the legalization of marijuana and a decline in opioid prescription rates as well as a decrease in the number of overdose fatalities.

Chronic pain comes out prominently as one of the conditions for which patients report benefiting from medical marijuana. It may come as no surprise that enterprises such as IGC Pharma Inc. (NYSE American: IGC) are seeking to develop FDA-approved formulations from cannabis to treat chronic pain and other symptoms.

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420 with CNW — Florida Supreme Court Considers 2024 Recreational Cannabis Legalization Initiative

Earlier this week, Attorney General Ashley Moody submitted a ballot measure to legalize recreational cannabis to the Florida Supreme Court. Smart & Safe Florida, a political committee that supports the rights of adults to buy, possess and use cannabis within reasonable regulations, is sponsoring the proposed amendment to the constitution.

Thus far, the committee has gathered more than 222,000 signatures for its petition, which is more than enough to prompt a review by the Supreme Court. The Supreme Court usually focuses on whether the language in the proposal is clear as well as if the proposed amendments to the constitution are limited to single subjects.

Moody, who had sought an opinion on the proposal from the courts, indicated in her formal filing that she thought the initiative didn’t meet the legal requirements of part of state law to be brought before voters in the state next year. This move from Moody comes after she received a ballot measure notification from Secretary of State Cord Byrd in April.

In her statement, the AG added that she’d present additional arguments via a briefing at a later date.

For the measure to be placed on the November 2024 ballot, the sponsors will need to collect no less than 891,523 validated signatures on their petition. As of Monday, the total number of signatures stood at 786,747. If approved, the measure will allow individuals aged 21 and older to buy, possess and/or use cannabis products and cannabis accessories for nonmedical personal consumption by ingestion, smoking or otherwise.

The medical use of marijuana is already permitted in the state of Florida. In November 2016, voters approved Amendment 2, which broadly legalized the medical use of the drug for people with certain debilitating conditions or illnesses determined by a licensed physician in the state. This amendment also required that the state health department register and regulate cannabis production and distribution centers. However, it contained no provisions on home cultivation for medical cannabis patients or employment protections for eligible patients.

Overall, the medical use of marijuana is legal in 38 states, the federal District of Columbia and four out of five permanently inhabited U.S. territories.

The recreational use of marijuana is also legal in the District of Columbia, 22 states and 3 U.S. territories. Additionally, 9 other states have decriminalized the use of the drug.

However, the possession and use of marijuana remains illegal under federal law. This is because the drug is still classified under Schedule I of the Controlled Substances Act. That notwithstanding, a number of cannabis-based formulations such as Epidiolex have obtained FDA approval and are being legally used by qualifying patients. Other companies such as IGC Pharma Inc. (NYSE American: IGC) also have cannabis-based drug pipelines that they hope will result in FDA approval at the end of the drug-development process.

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420 with CNW — Minnesota Legislators Build Consensus During Cannabis Legalization Committee Conference

During their first committee meeting last week, bicameral and bipartisan legislators ironed out some differences they had on cannabis legalization measures that were approved in both chambers in April. The members adopted some amendments on temporary regulations for hemp-derived CBD products and how the measures defined marijuana.

Senate bill SF 73 was sponsored by Senator Lindsey Port while the House version, HF 100, was sponsored by Representative Zack Stephenson. Stephenson stated that he and Port were focused on finishing the job, noting that Minnesota’s current drug laws were doing more harm than good.

The bills were identical in the beginning before being amended in the respective chambers during the committee process. Following approval of the bills, bipartisan lawmakers were appointed as negotiators to resolve any differences and reach an agreement.

The main components of both legislations include the following:

Individuals aged 21 years and older will be allowed to buy and possess no more than two ounces of marijuana in public. This is in addition to being permitted to grow up to eight plants at home.
Gifting up to two ounces of cannabis without remuneration between of age individuals will also be allowed.
The Bureau of Criminal Apprehension would be in charge of identifying individuals eligible for relief and automatically process their expungements.
Marijuana delivery services and on-site consumption permits would be permitted and approved under the resolutions.
Some of the taxes would be allocated toward grants to support farmers and programs to treat substance misuse.

Currently, the key differences in both bills include limits on marijuana possession and tax rates for marijuana along with local control. With regard to taxes, HF 100 imposes an 8% tax on marijuana sales while SF 73 calls for a 10% tax to be levied on cannabis sales. Regarding possession, SF 73 proposes to allow individuals to possess up to two pounds of cannabis in public and up to five pounds of self-cultivated marijuana at home. On the other hand, HF 100 seeks to permit individuals to possess up to 1.5 pounds in a private dwelling.

Given that the legislative session is set to end soon, the negotiators will need to speed up this harmonization process. Governor Tim Walz has called on supporters to join the administration and legislators in their push to legalize cannabis in this session. In January, he sent out an email blast encouraging individuals to sign a petition supporting the reform. Earlier this year, the governor also released a budget request that included proposed funding for cannabis record expungement and implementation of cannabis legalization.

As the goings-on in Minnesota indicate, medical and recreational marijuana have to go through various legislative processes in order to be legalized at state level. The process is different for companies such as IGC Pharma Inc. (NYSE American: IGC), which focus on making cannabis-based medicines. In this case, the FDA has a clear process through which those formulations have to be taken before they can be approved and licensed for use in the healthcare system.

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420 with CNW — Why Marijuana’s $100 Billion Economic Impact Varies by State

The recreational and medical marijuana markets continue to have a positive economic impact on the nation as a whole. However, the effects on individual states vary according to the size, maturity and nature of each market. Compared to certain larger, highly populated states with larger markets, some smaller, less populous states are seeing a stronger overall impact on the economy.

Statistics from the just-released MJBizFactbook indicate that the total economic impact of cannabis sales in the United States is predicted to hit $100 billion this year, a rise of more than 12% from 2022. Marijuana sales could inject $17.6 billion this year into California’s economy—the largest marijuana market in terms of population and sales. Conversely, cannabis contributes significantly less to the thinly populated medical and recreational markets. For example, Mississippi, which opened sales in January, is predicted to see a $30 million increase in revenue by year’s end.

When the population of a state is taken into consideration, certain people benefit more than others. Although the California marijuana sector might have the greatest total impact, other jurisdictions offer more impact per individual. For instance, the cannabis market in Alaska is poised to create an average economic contribution to each individual this year of about $1,431. The marijuana industries in Massachusetts, Colorado, Michigan, New Mexico, Nevada and Montana will each contribute nearly $800 per citizen. California, on the other hand, with roughly three times the revenue of Colorado, will only contribute around $450 in economic benefit per person.

Economic influence occurs in both indirect and direct ways. Workers in the marijuana sector can use their earnings to pay for basic needs such as food, shelter, transportation and other essentials. Additionally, cannabis companies, patients and customers shell out millions in local and state taxes, which are used to fund infrastructure improvements such as roads and schools. Real estate businesses also benefit from the opening and expansion of the manufacturing, retail and agricultural industries, which raises demand for properties.

Contrary to supply-chain income, which is commonly used to estimate a sector’s overall size, the economic impact of the cannabis industry is distinct from that of other industries. For cannabis, the multiplier demonstrates how the industry influences the whole economy.

In this event, every $1 that patients and customers spend in retail outlets, a substantial amount of it locally, injects an additional $2 into the economy. While the multiplier approach isn’t ideal for local effect studies, it still offers a great projection of how cannabis affects the economy as a whole.

It would be interesting to learn how the economic benefits arising from companies such as IGC Pharma Inc. (NYSE American: IGC) can be computed, given that the cannabis-based medicines that they are developing can be used across the nation and globally once they receive FDA or regulatory approval.

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420 with CNW — Groups Urge Leaders to Expedite Passing Cannabis Banking Legislation

All 50 states’ banking associations, as well as several financial, union and insurance organizations, are urging the Senate committee to enact a cannabis banking bill as soon as feasible. Several state and national organizations wrote to the Senate Banking Committee’s leadership, urging prompt action on the SAFE Banking Act.

Among those voicing support for the act are the American Bankers Association (ABA), the Electronic Transactions Association (ETA), the Independent Community Bankers of America (ICBA), a coalition of trade associations representing the insurance industry and the International Brotherhood of Teamsters. Separately, the national ABA wrote to Congressional leadership urging prompt adoption of the SAFE Banking Act.

In a letter to the Senate sponsors of the Act, the ICBA stated that the proposed legislation will address a significant public safety issue and settle a discrepancy between state and federal law. A different letter from the Teamsters Union’s president stated that the banking bill would significantly increase workplace safety by enabling banks and other financial institutions to offer services to legal marijuana-related businesses.

In a single letter, nine distinct insurance trade organizations stated that the varying legal statuses of cannabis and cannabis-related products under state and federal law, as well as state regulation, could expose their sector to liability. The organizations suggested that the bill be changed to incorporate clauses from a newly reintroduced measure that would give insurance providers that collaborate with cannabis firms more protection.

Senators from both sides have pushed for swift action on the standalone bill, which would shield banks from federal regulators’ penalties when they deal with state-legal marijuana businesses. Senator Sherrod Brown, chairman of the banking committee, recently stated that he expected senators to move swiftly on the banking act, and that has been the case so far. A week or so after being reintroduced in both chambers, the announcement of a date for its hearing was made.

Senate Majority Leader Chuck Schumer stated that he would bring the bill to the floor if it passed the committee. He also underlined that it would be altered to include provisions for expungements.

The standalone banking bill is one of the most likely marijuana laws to pass this session in a GOP-controlled House. It has been passed in some form by the House on generally bipartisan lines multiple times in recent years, but both Republican and Democratic leadership in the Senate have failed to move it forward.

The challenge of limited access to banking services that marijuana companies face aren’t experienced in the operations of other entities such as IGC Pharma Inc. (NYSE American: IGC), which are engaged in studying cannabis compounds with a view to developing formulations that meet FDA criteria for approval.

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420 with CNW — How Governments’ Greed for Taxes Is Frustrating Legal Cannabis Sales

The question of whether individuals should be allowed to use drugs recreationally, particularly marijuana, has long been up for discussion. Advocates claimed that legalizing these drugs would reduce their availability on the black market. Prices would decrease, and gangs and organized crime, which have long benefited from the movement and sale of illicit substances, would decline.

However, this has not changed anything. Cannabis still retains the same legal status under federal law. According to the DEA, marijuana is still classified as a Schedule I restricted drug because there is no federally acknowledged medicinal use for it in the United States. Several states have ignored this position regardless of whether or not such an evaluation is accurate.

The Tax Foundation states that one of the most contentious political problems in the United States is the taxation of recreational marijuana. States may have quite different rates for excise and sales taxes on the same goods. A city’s own sales tax may also be added in some situations.

For instance, Washington state levies a sales tax of 37% on retail cannabis, while Virginia levies a tax of 21%, Montana levies a tax of 20%, Oregon levies a tax of 17% and Vermont levies a tax of 14%. In some states, wholesale and retail prices are both subject to excise taxes. Others charge tax based on how much product is purchased.

Any time there is an excessive tax rate on a good or service, some people will try to take advantage of the situation or go to the illegal markets.

However, there are other difficulties in addition to the extremely inflated tax rates. The application and approval procedures to become a licensed marijuana retailer can be somewhat onerous in some states. In some states, a license application may take months to complete the licensing procedure, only for it to be rejected. Vendors now have the option to forego the procedure and start selling the goods nonetheless, something that would be criminal. Furthermore, they are free to forego tax collection if they skip the licensing procedure.

The illicit market still exists, even if some states have improved their efforts to suppress it. Additionally, due to the nature of interstate commerce, the crime has spread to areas where cannabis use is still illegal.

According to the Oklahoma Bureau of Narcotics, since the state legalized commercial cultivation of medical cannabis in 2018, the state has grown to become the largest supplier of marijuana for the illicit market in the nation.

When the government becomes avaricious and begins to levy exorbitant taxes, it encourages an illegal market where there may be lax sanitation, quality control and safety standards. Once illicit merchants learn how to conserve money and make some savings, they become greedy as well, aiming to increase profits.

Greedy politicians constantly advocate for high taxes, which also encourage criminal activity or systemic fraud. Greed therefore breeds more greed, especially when it comes to cannabis.

Fortunately, the greed exhibited by both state and local governments as well as illicit cannabis industry actors does not affect the cannabis medicalization segment in which pharmaceutical companies such as IGC Pharma Inc. (NYSE American: IGC) operate because this particular space is regulated by the FDA, and the need for tax dollars doesn’t influence how the FDA does its work.

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420 with CNW — Missouri’s Adult-Use Market Thriving Three Months After Launch

Missouri launched recreational cannabis sales earlier in February, following approval of Amendment 3 in November 2022. This, according to a report by Brightfield Group, is the second fastest turnaround in the United States, only two weeks behind the record set by Arizona.

Thus far, Missouri has raked in $350 million in sales for both medical and recreational cannabis, according to data released by the Missouri Department of Health and Senior Services. Last month, the state brought in $91 million in recreational cannabis sales. This is on par with the $93.5 million in revenue generated in March and an increase from the $71.7 million sales from February. Medical marijuana sales make up the remainder that brings total sales to $350 million.

The state’s adult-use market is growing at a rapid rate, especially in comparison to other states.

For instance, Illinois took seven months to bring in $300 million in sales after launching recreational sales in January 2020. Two years after the market’s inception, the state ended last year with $1.6 billion in sales.

Missouri is expected to end this year at more than $1 billion, which aligns with marijuana business owners’ expectations that the numbers will go even higher.

Tyler Hannegan, chief of operations and sales for Robust Cannabis, stated that it may take up to a year to see what sales were capable of. However, if the market is to meet the increasing demand, more will need to be done, and faster.

This growth has seen companies such as Hippos Cannabis and Robust Cannabis expand their facilities and hire new employees in an attempt to meet demand, increase production and keep dispensary shelves stocked.

Currently, marijuana businesses also need approval from the state’s Department of Health and Senior Services before they can makes any changes to their facilities. This process will need to be streamlined in an effort to speed up the approval process and allow more players to take part in the industry.

Since the recreational market launched, the department has received more than 80 requests, in addition to the 40 requests that were already pending. Of the total number of submitted requests, the department has approved 23 so far. Spokeswoman Lisa Cox revealed that 29 more are in the final review stage and should be approved over the next few weeks. Cox added that the department was also hiring new employees to handle the increase in workload, noting that the Division of Cannabis Regulation would be fully staffed by the year’s end.

The booming sales of recreational and medical marijuana in Missouri and other states that legalized the substance suggest that entities such as IGC Pharma Inc. (NYSE American: IGC), which are working to develop medicinal formulations from marijuana, could register success since preliminary studies as well as anecdotal reports point to this plant having therapeutic potential.

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420 with CNW — U.S. Border Patrol Agents Cautioned Against Using CBD Products

The U.S. Customs and Border Protection agency is warning its workers and their family members to say no to CBD. CBD (cannabidiol) is one of the two primary compounds found in marijuana. However, unlike THC, which induces a high when ingested, CBD does not.

In a recently published advisory, the agency highlighted some issues associated with this compound, highlighting that CBD products were still unregulated and could contain THC that can be detectable using a drug test.

It should be noted that the agency isn’t forbidding its workers from using CBD products derived from hemp, because the substance was legalized federally following the 2018 Farm Bill’s approval. However, the agency does strongly urge its agents to abstain from their use as a form of precaution.

In its advisory, the agency stated that its drug-free workplace plan mandated drug testing, which applied to all federal civilian employees. A positive drug test may result in disciplinary action and in extreme cases, removal from service. The advisory also observed that while some states had legalized the use of cannabis, THC and marijuana were still prohibited substances federally.

Currently, marijuana is classified as a Schedule I substances under the Controlled Substances Act. This is despite the fact that the recreational use of marijuana is legal in 22 states and Washington, D.C., while the medical use of the drug is legal in 38 states and the nation’s capital.

The federal agency elaborated on the warning, giving examples of research showing CBD products were sometimes mislabeled.

Given that the FDA is yet to establish regulations for these products, it is expected that the issue will persist. Earlier this year, the FDA announced that congressional action was needed to allow CBD be marketed as a dietary supplement or in food.

The recent advisory by Customs and Border Protection comes after the human resources division at the U.S. Forest Service posted a notice in 2022 that also warned its employees about the risks of consuming CBD products that were federally unregulated.

Meanwhile, other federal agencies are reviewing their drug testing and employment policies, both for applicants and workers, amid the state-level legalization movement. Recently, the Secret Service relaxed restrictions on previous use of cannabis by prospective agents. The Bureau of Alcohol, Tobacco, Firearms and Explosives also recently updated its employment policy to not automatically disqualify applicants who had cultivated, manufactured or sold cannabis in compliance with state laws.

The warning by the border patrol agency clearly indicates that personnel should refrain from using cannabis-derived substances that aren’t federally regulated. This means that the products which companies such as IGC Pharma Inc. (NYSE American: IGC) take through the clinical-development process and obtain FDA approval wouldn’t be included in any advisory that federal agencies send to their employees.

NOTE TO INVESTORS: The latest news and updates relating to IGC Pharma Inc. (NYSE American: IGC) are available in the company’s newsroom at https://cnw.fm/IGC

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