GWPH - 2 Ways the Cannabis Industry Is Shooting Itself in the Foot
There's a growing movement for marijuana legalization in the U.S. and around the world. And a key part in winning regulators over is in showing them that the industry can be trusted to govern itself. However, the problem for the industry is that there's too much excitement surrounding its growth prospects, and this is when companies sometimes lose sight of everything else.
Here are a couple of examples where the industry's been doing itself more harm than good.
Patients take cannabidiol (CBD) for its health benefits. Cannabis company GW Pharmaceuticals (NASDAQ: GWPH) has benefited from strong demand for its Epidiolex drug, which can treat children with two rare forms of epilepsy -- Lennox-Gastaut syndrome and Dravet syndrome. The U.S. Food and Drug Administration (FDA) approved the drug in 2018. It's the first and only cannabis-based drug approved by the FDA.