NCR - Former FDA Agent Says Big Pharma Not Likely To Get Involved In Cannabis Industry After Rescheduling | Benzinga
Three national leaders gathered Wednesday to discuss the impact of the Drug Enforcement Administration's historic move to reclassify cannabis as a less dangerous drug.
Removing marijuana from Schedule 1 – the same class as heroin, LSD, meth and ecstasy – to Schedule III along with ketamine, anabolic steroids and testosterone and an acceptance that the plant has medical value and not a high abuse potential.
A huge win for medical marijuana patients, many cannabis advocates and researchers agree. Another major benefit is that cannabis operators will no longer be taxed under IRS code 280e, which prohibits businesses from deducting normal business expenses. Whitney Economics concluded that cannabis companies paid $1.8 billion in excess taxes due to IRS restrictions in 2022.
More on the impact rescheduling has on communities, businesses and the future of cannabis reform, was discussed by national leaders and industry experts, Howard Sklamberg, former FDA deputy commissioner; Jim Cole, former US Deputy Attorney General and member of the National Cannabis Roundtable and Tahir Johnson, president at Minority Cannabis Business Association and CEO of Simply Pure Trenton.
The discussion was hosted by the Coalition for Cannabis Scheduling Reform (CCSR), NCR and the Minority Cannabis Business Association (MCBA).
‘A Very Big Deal'
The three experts agreed ...