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It was a great year for the "first marijuana". We have seen a number of cannabis stocks migrate to reputable American stock exchanges; stepped back and watched the first cannabis-derived drug approved by the US Food and Drug Administration (FDA); and of course, watched with enthusiasm as Canada lifted the veil on nine decades of recreational marijuana bans last week.
Perhaps the best thing about the legal pot industry is that story creation never stops. In fact, now that adult cannabis use is now legal in our northern neighbor and in many other countries considering legalizing it, it is arguable that history can take place regularly.
Take, for example, the history of sending marijuana from Canada to the United States. And yes, you just read that correctly.
Source of the image: Getty Images.
These two pot stocks have been approved for shipping cannabis to the United States.
Although 30 states in the US have adopted radical cannabis laws for medical purposes, the federal government continues to treat drugs as a Schedule I substance. This means that it is totally illegal, that it is illegal to use drugs. it is subject to abuse and that it has no recognized medical benefits. As such, interstate cannabis transportation and cross-border transportation, including imports and exports, are strictly prohibited. That's why niche retailers love MedMen companies they had to operate crop farms in each state where they carry on retail activities, since transportation out of the state is not a legal possibility in the United States.
But over the last five weeks, the federal government – or should I say, the US Drug Enforcement Administration (DEA) – has slightly relaxed its position and allowed two Canadian marijuana growers to import cannabis or cannabinoids for medical research studies.
September 18 Tilray (NASDAQ: TLRY) announced that it has received approval from the US government to import a cannabinoid formulation containing cannabidiol and tetrahydrocannabinol (the psychoactive component that makes you stronger) for an essential tremor clinical trial at the University of California in San Diego. Tilray focuses primarily on providing products to the medical community. So we expect it to be dependent on exports to foreign markets (perhaps even the United States on a regular basis) to go forward. Since the US government has only one federally-registered center of culture, the supply of medical cannabis may limit research. This decision of the DEA to authorize the importation of cannabinoids could be the first step to eliminate some of the paperwork surrounding medical research.
Source of the image: Getty Images.
Then, on October 9, Canopy Growth Corp. (NYSE: CGC) announced that the DEA had allowed him to perform what he thought was the first legal export of medical cannabis to a research partner still unknown in the United States. Mark Zekulin, president of Canopy Growth, said: "The United States represents a unique market opportunity and, as the most established cannabis trade in the world, we in turn offer a unique ability to take advantage of standardization. , the development of intellectual property and clinical research that can understand and legally apply cannabis and cannabinoids ".
Is it just the beginning?
The real question that investors should ask at this point is whether this is a unique exception to the DEA rule, or whether we are about to experience real change in the United States.
Before Tilray and Canopy Growth do not go down in history, GW Pharmaceuticals (NASDAQ: GWPH) broke the ground of his own, which was alluded to earlier. GW Pharmaceuticals' cannabidiol-based oral solution, known as Epidiolex, which has been dazzling in many late-stage clinical trials, became the first cannabis-derived drug obtained from the FDA in June. In addition, GW recently discovered that Epidiolex was listed in the Schedule V drug list by the FDA, making it the least restrictive level possible. products based on cannabidiol. Cannabidiol is the non-psychoactive component of the cannabis plant, better known for its apparent medical benefits.
Source of the image: Getty Images.
As noted above, 30 states have legalized marijuana for medical purposes – this number may increase by two after the mid-term elections. While nearly two-thirds of the country has very stringent medical jar laws, it seems quite logical for Capitol Hill lawmakers to at least consider reprogramming or withdrawing cannabis for medical purposes.
What is certain is that Canopy Growth and Tilray would eagerly enter the US market if the federal government changed its tone. In its press release, Canopy alludes to the importance of operating on a few occasions in the federal legal markets, without mentioning the enormous potential of the US market.
Meanwhile, Tilray has listed its shares on the Nasdaq in the United States and in society looking for expansion opportunities abroad, a legal effort in the United States would make a lot of sense.
Now, we're just waiting to see if it's a one-off thing from the DEA or a real change in perception.
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