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US Cannabis Rescheduling Primed to Set Off a Global Cannabis Explosion
Jan. 17, 2024 by SOMAÍ Pharmaceuticals
Written by Michael Sassano, CEO, Somai Pharmaceuticals. Published in Business of Cannabis.
On January 12, the United States Department of Health and Human Services (HHS) released a letter and supporting 252-page document that will make it extremely difficult for the Drug Enforcement Agency (DEA) to ignore its findings on the benefits of cannabis and all but ensuring that the U.S. will reschedule cannabis from current listing as a Schedule I to a Schedule III drug.
However, the biggest ramification for the global medicinal cannabis market is that every regulator in every country woke up to the most influential regulator on earth telling the world that cannabis is both safe and indeed is a medicine that treats at least 15 ailments, especially pain.
The International Cannabis Market is a Ready-to-Ignite Fuse
Looking back on this author’s 2024 predictions article, it is now more apparent that the U.S. will reschedule, and it is equally increasingly possible that Germany will remove its narcotics classification from cannabis. Although these two events are more common-sense symbolic changes than functional, since we all know cannabis is a medicine with benefits, the result will be countries reevaluating their out-of-date stance and bringing their rules up to global standards.
Reclassification in these significant markets will ignite the worldwide redesignation of cannabis and mark the beginning of the most transformational movement cannabis has seen since the U.S. started state-by-state legalization and Canada went federally legal. The result will be a global medicinal cannabis market that benefits patients and consumers by creating a robust international business framework.
Major Takeaways From the HHS Cannabis Rescheduling Letter
The HHS letter and enclosed document prepared by the FDA’s Controlled Substance Staff contained gems for health and regulatory health professionals worldwide. To oversimplify, the evidence within puts to rest the repeated mantra of professionals and politicians who do not wish to acknowledge that cannabis is indeed helpful for many indications and is safe to use. Below are the critical points from Marijuana Moment’s coverage of this momentous missive:
- Cannabis’ “potential for abuse [is] less than the drugs or other substances in Schedule I and II.”
- Thirty thousand healthcare professionals “across 43 U.S. jurisdictions are authorized to recommend the medical use of marijuana for more than six million registered patients for at least 15 medical conditions.”
- “There exists widespread, current experience with medical use of the substance by [healthcare practitioners] operating per implemented jurisdiction-authorized programs, where medical use is recognized by entities that regulate the practice of medicine.”
- “Marijuana meets the findings for control in Schedule III.”
- “The largest evidence base for effectiveness exists for marijuana use within the pain indication (in particular, neuropathic pain).”
- “[Cannabis has] some evidence of benefit in Crohn’s disease when treated with marijuana… mostly limited to subjective symptoms and not disease activity.”
- “The available data indicate that there is some credible scientific support to substantiate the use of marijuana in the treatment of: pain; anorexia related to certain medical conditions; and nausea and vomiting (e.g., chemotherapy-induced), with varying degrees of support and consistency of findings.”
- “The risks to the public health posed by marijuana are low compared to other drugs of abuse (e.g., heroin, cocaine, benzodiazepines), based on an evaluation of various epidemiological databases for [emergency department] visits, hospitalizations, unintentional exposures, and most importantly, for overdose deaths.”
- “For overdose deaths, marijuana is always in the lowest ranking among comparator drugs.”
Are There New Findings in the HHS Cannabis Recommendation Letter?
Let’s face it: the above takeaways aren’t anything new to the tens of millions of people in the world who get relief from cannabis. Patients hardly require clinical trials to tell them cannabis helps solve the issues they are facing; patients and consumers around the world already know this. Additionally, there are over 30,000 published papers on cannabis’ primarily positive effects, so blindness regarding the plant’s benefits seems inherently political, not factual. And surly, the big pharma pain industry tried to keep this document out of view, since their $78 billion market has a new competitor verified by the United States Government.
What the HHS cannabis rescheduling recommendation letter does not just allow for much more research and development that, in turn, opening doors for new demographics who could benefit from cannabis but don’t know about it and cannot obtain it. But additionally, it’s a document that can be used by any regulator to justify medical cannabis to their local population as a safer alternative as well as medicine that can help their people safely. The global medicinal markets and new demographics worldwide will open faster than ever imagined. Many thanks must go to pioneers and advocacy groups internationally that have been tirelessly fighting for access. Their time has come to see the result of this hard work. And remember the fight isn’t over, this information was given due to a US Freedom to Information Act lawsuit and was hidden since August, so now that it is in the public, it can be used to fight globally for access as representations of medical benefits.
2024 International Cannabis Regulation Movements Are Firing Up
The year is beginning with new countries making announcements, and more will follow this report released by the HHS:
- Spain just announced it would finally be delivering its long-awaited medical cannabis framework in two months to “bring in line with global standards.”
- Czechia recently just presented a draft for new medical cannabis laws as well as social clubs that deeply resemble the German program.
- Ukraine is now debating a medical cannabis bill in the government.
- Greece is trying to open its doors to the global cannabis world.
- Japan has modified its rules to clarify cannabis guidelines, signaling future changes.
- Thailand is still bouncing back and forth, but recently, it seems more in line with medical cannabis than adult use.
- Brazil has already started limited access to high CBD products with THC.
- Even countries like Albania are moving forward with cannabis reform.
Global Medical Cannabis is On an Undeniable Upward Trajectory
Global cannabis regulations are going to spark in 2024 and set 2025 up to cause an enormous global explosion in medical cannabis. Some countries will follow stricter medical platforms like the United Kingdom, others will follow more social club expansions like Germany, and a few will follow adult-use style programs like Canada and the U.S.
Regardless of methodology, almost every country will be implementing a cannabis policy — even if it’s simply CBD regulation — as the globe realizes not only is cannabis safe, but it helps you in many ways. While rescheduling should have happened ages ago, let’s be thankful it’s happening now. Be ready to make some noise at the DEA, Germany and all the country regulators to show the globe how to move forward and desist from the false narrative that no medical cannabis benefits exist!
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Karma Koala Podcast Episode 67: This Week Michael Sassano, Inesa Ponomariovaite & Our Regular Segment From Dentons German Cannabis Head, Peter Homberg
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Innovations in Dosing Technologies: Getting an Accurate Hit, Every Time
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Safety and Culture at Forefront of Cannabis Social Club vs. Dispensary Debate
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Synthetic Cannabinoids versus Plant-Derived Products
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How Germany Can Enter The Adult-Use Cannabis Market Successfully
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How Germany Can Enter The Adult-Use Cannabis Market Successfully
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Portugal Is Highly Likely To Legalize Recreational Cannabis
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Uber Eats to Offer “Baked Goods” with Canadian Cannabis Partnership
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Michael Sassano, Renowned Pharmaceutical Expert, and Founder and CEO of Somai Pharmaceuticals LTD Zoom Interviewed
EIN Presswire Michael Sassano, Renowned Pharmaceutical Expert, Founder & CEO of Somai Pharmaceuticals LTD Zoom Interviewed for The DotCom Magazine
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Cannabis Investment: 7 Best Marijuana Stocks to Buy for 2022
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Michael Sassano: GMP Series #8: Manufacturing Startup
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Few Medical Cannabis Licenses in Portugal Have Been Awarded
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Cannabis Co. Receives $3M ‘Innovative Products’ Grant From Government, EU In Portugal
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BusinessCann SOMAÍ Pharmaceuticals Unipessoal LDA has received an innovative products grant of 2.7 million euros by the Portugal 2020 committee....
Projeto Nº POCI-02-0853-FEDER-179647
SOMAÍ Pharmaceuticals Unipessoal LDA has officially opened its new state-of-the-art pharmaceutical EU-GMP facility in Portugal.
EU: Cannabis company receives €2.7 million grant
MMJ Daily Somaí Pharmaceuticals has received a €2.7 million grant from the Portugal 2020 committee.
SOMAÍ Pharmaceuticals Erhält Im Rahmen Von Portugal 2020 Fördermittel In Höhe Von 2,7 Mio. Euro
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SOMAÍ Pharmaceuticals awarded €2.7M in funding from Portugal 2020 Grant
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SOMAÍ Pharmaceuticals awarded €2.7M in funding from Portugal 2020 Grant
AP News LISBON, Portugal, Nov. 10, 2021 (GLOBE NEWSWIRE) -- SOMAÍ Pharmaceuticals Unipessoal LDA has received an innovative products grant...
SOMAÍ Pharmaceuticals awarded €2.7M in funding from Portugal 2020 Grant
Opera News LISBON, Portugal, Nov. 10, 2021 (GLOBE NEWSWIRE) -- SOMAÍ Pharmaceuticals Unipessoal LDA has received an innovative products grant...
SOMAÍ Pharmaceuticals awarded €2.7M in funding from Portugal 2020 Grant
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These Are The Cannabis Industry’s Biggest Tricks and Treats So Far
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Does Big Business Provide A Better Look Into Cannabis Reform Than Capitol Hill?
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Does Big Business Provide A Better Look Into Cannabis Reform Than Capitol Hill?
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Does Big Business Provide A Better Look Into Cannabis Reform Than Capitol Hill? Operators Believe So.
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GMP Series Part 3: Process Equipment Procurement
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Could Drug Store Giants Eventually Sell THC? It’s Possible, But Many Hurdles Remain
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European Cannabis is Starting to Look Like the US Market 10 Years Ago
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CANNA WORLD EXPO EUROPEAN UPDATE SOMAI PHARMACEUTICALS CEO MICHAEL SASSANO
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Beyond CBD, THC: ‘Minor’ Cannabinoids Flood Market — Lack of data is concerning, even for practitioners who believe in medical cannabis
MedPage Today On the heels of the cannabidiol (CBD) craze come three other cannabinoids touted as potential treatments for various...
Why GMP is the Future of Quality Control for the Global Industry
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SOMAÍ Pharmaceuticals Bringing The Future Of European Cannabis Market
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SOMAÍ Pharmaceuticals Bringing The Future Of European Cannabis Market
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Morocco: Cannabis Legislation but the Devil in the Details
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Low-Cost Pot Stocks To Consider, According To SOMAÍ Pharmaceuticals CEO Mike Sassano
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Cannabis Revival and Year of the SPAC’s: What’s To Be Expected the Rest of 2021?
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SPAC Mania: The Biggest Cannabis Boom Is Yet To Come
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GMP Series Part 2: Building and Design – Authored By: Michael Sassano and Antonio Guedelha
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Benzinga Cannabis Capital Conference | February 25-26, 2021 | Michael Sassano
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Cannabiz: How to Invest in This Growing Industry
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GMP & Compliance: GMP SERIES #1: “Starting Your GMP Approval Process for Cannabis Correctly”
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PREDICTIONS | Want to know the future? There are two ways: a crystal ball or really smart people (pages 74-75)
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These Are The Top European Cannabis Companies
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UK to see largest medical cannabis market growth in Europe 2020 to 2025
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Desert Oasis | Solaris Farms is capitalizing on a prime location and plenty of Nevada sunshine (page 58-61 November issue)
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Cannabis Top 20: North America’s Largest Commercial Grows
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Real Deals – Michael Sassano
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Best practices for securing your cannabis grow operations and supply chains
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Cannabis Terpenes: What Growers Need to Know
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Opening the Pot: Vegas Cannabis Industry Moving Ahead Amidst COVID
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California joins push to let cannabis businesses use banks as part of coronavirus relief
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Cannabis company executives speak to the industry’s trying times
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Why Large-scale cannabis producers are turning to Hybrid Greenhouses
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Lawmakers Look to Include Cannabis Banking Reform in Next COVID-19 Stimulus Bill
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COVID-19 Is Leaving Its Mark On The Cannabis Industry, Insiders Say
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Why Cannabis Will Boom During the “New Normal”
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Cannabis Do-Gooders: These Companies Are Lending A Helping Hand Against COVID-19
Benzinga “Creating a safe environment while cannabis is deemed 'essential' added tremendous positive energy for our team, while at the...
Cannabis Do-Gooders: These Companies Are Lending A Helping Hand Against COVID-19
Yahoo finance "Recently, in-order to give back to the community and create outward good will, Solaris Farms reduced pricing to...
Hemp Companies Step Up To Help During Pandemic
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Cannabis Pros Sound Off On How Coronavirus Pandemic Will Affect Industry
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CannaBusiness Tips For Coronavirus Times
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Cannabis Executives on Turbulent Markets: “Don’t Panic”
Equities “I’m a believer in letting the flood gates open. But I see things from a well established position. The...
Michael Sassano: the man bringing US cannabis know-how to Europe
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Michael Sassano: the man bringing US cannabis know-how to Europe
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Michael Sassano: the man bringing US cannabis know-how to Europe
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New Cannabis Products: Kiva’s Camino CBN Line, Solaris x Cannabis & Culture’s Line And A Topical Cream
Yahoo finance "With over $100,000 in sales the first week of launch, it’s clear that Culture and Cannabis’s reach means...
New Cannabis Products: Kiva’s Camino CBN Line, Solaris x Cannabis & Culture’s Line And A Topical Cream
Benzinga Michael Sassano, CEO of Solaris, told Benzinga, "The merger of the Culture and Cannabis media group with Solaris Farms...
European Union Urges Member Nations to Vote for World Health Organization’s Cannabis Rescheduling Recommendations
Cannabis Business Times “The 1961 Narcotics Act of Europe is similar to [the Drug Enforcement Administration’s (DEA)] Schedule I in...
“Marijuana is a global trend that can no longer be stopped.”
Incrussia The largest marijuana market in Europe is now Germany ($100 million). The American market is estimated at about $10...
Which European Countries Cannabis Investors Should Watch in the New Decade
Equities Europe is at the crawling stage of cannabis development and starting their first awkward steps with medical acceptance. -...
Solaris Farms & Tech-Driven Growing
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‘Big Cannabis’ Technologically Ahead Of Its Times, But Post-Harvest Automation Remains Elusive
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U.S. leads in cannabis innovation, but cedes global market to Canada
The Denver Post The genetics and sophistication underlying the U.S. cannabis industry lead to better-quality and higher-potency flowers for those...
American pot is the gold standard. But Canada leads the export game — for now
Salon The genetics and sophistication underlying the U.S. cannabis industry lead to better-quality and higher-potency flowers for those who smoke...
American pot is the gold standard. But Canada leads the export game — for now
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From Seed to Sale Nevada’s Cash Crop Cannabis Industry
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America’s marijuana growers are the best in the world, but federal laws are keeping them out of global markets
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What Should Investors Take Away From MJBizCon 2019?
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How to Do Cannabis Cultivation Business Planning for Growth
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“5 Things I Wish Someone Told Me Before I Started Leading a Cannabis Business”, with Michael Sassano and Len Giancola
Medium The cannabis business is a complete dedication and you must make large sacrifices for it. It is very fast...
Key trends when investing in the Cannabis industry in Opportunity Zones
Opportunity Zone Cannabis land development is growing and gaining traction in Opportunity Zones (OZ). Not only has a large amount...
Vegas Hybrid GreenHouse Dominance by Mike Sassano – page 20
Vegas Cannabis magazine
The Cannabis Cultivation Costs by State
MG Retail Magazine To the outside world, the legal cannabis industry appears to be one big cash machine. While it’s...
Mike Sassano: Increasing Potency with Greenhouse Technology
Ganjapreneur Michael Sassano is the CEO and founder of Solaris Farms, one of three large greenhouse cannabis cultivators in Nevada....
OZ WRITERS COUNCIL DIRECTORY
OZ WRITERS COUNCIL DIRECTORY The Council is an invitation-only group of executives and professionals with experience in the Opportunity Zone...
Are cannabis hand-trimmers an endangered species?
Leafly Many people in the cannabis industry start out as trimmers. Wearing “sticky gloves” is a way to learn the...
Automation and sensors in hybrid greenhouses
AgTechTomorrow Solaris is a high tech hybrid greenhouse designed specifically for desert environments. It was the first ground up hybrid...
Desert Greenhouse Cultivation
Blunt Business Desert greenhouse cultivation with Michael Sassano Founder and CEO of Solaris Farms. Michael says they have the largest...
Five Diverse Questions With Michael Sassano, Founder: Solaris Farms
Forbes I was born and raised in Cleveland, Ohio before attending Boston University. I graduated Cum Laude with Distinction in...
Automation is the Future of Cannabis
Equities As industries evolve, the companies within them consistently work to implement new methods that update their processes so they...
How Solaris Farms’ Michael Sassano Works: Cannabis Workspace
Cannabis Business Times In this installment, CBT presents an up-close look at the tools and habits behind the Nevada-based cultivator’s...
Federal Court Orders DEA to Explain Inaction on Cannabis Cultivation Applications
Analytical Cannabis Michael Sassano, founder and CEO of the Nevada-based cannabis cultivation operation Solaris Farms, told the Cannabis Business Times,...
Federal Court Orders DEA to Explain Why It Has Ignored Cannabis Cultivation Applications
Cannabis Business Times A federal court has ordered the Drug Enforcement Administration (DEA) to explain why it has not responded...
Soma Pharmaceuticals Reveals Plans for Ireland’s Medical Cannabis Market
Cannabis Business Times As cannabis policy reform continues to sweep the globe, Ireland has launched a medical cannabis pilot program,...
What Technology Will Most Impact The Cannabis Industry? 24 Experts Share Their Insights
Disruptor Daily Cannabis legalization is gaining serious steam, and the industry is coming to a crossroads as nationwide demand for...
Solaris Farms Tackles Desert Heat with Global Tech
CannabisTech When Michael Sassano founded Solaris Farms in the Las Vegas area in 2016, his goals were ambitious - create...
What Trends Are Shaping The Cannabis Industry In 2019? 25 Experts Weigh In
Disruptor Daily Considering the topic of this article, you'd be forgiven for wondering whether it's 4/20 yet. It's not, but...
What’s The Future Of The Cannabis Industry? 28 Experts Share Their Perspectives
Disruptor Daily Bob Dylan once said that the times are a-changin', and no industry echoes that message like the cannabis...
CANNABIS INTERVIEW – MICHAEL SASSANO – FOUNDER SOLARIS FARMS
Cannabis Magazine Want to know more about one of the world’s largest greenhouses for growing cannabis? We sat down with...
Mike Sassano – A Cannabis Business in the Opportunity Zone
BuzzSprouts Mike Sassano's eclectic career has taken him from Cleveland to Wall Street, to Monaco and now Las Vegas. As...
Define “Organic”: The Cannabis Movement Is Stuck On Labeling
Dope Magazine Michael Sassano of Nevada’s Green Cross of America said all cannabis grown in the state is done without...