The cannabis sector is excited for several major catalysts that could help provide momentum after setbacks. Alongside the SAFER Banking Act in the Senate that could help provide financing to cannabis sectors, the potential reclassification of marijuana as a Schedule 1 substance could create opportunities in the space.
The reclassification of cannabis and potential safety issues were among the items covered by FDA advisors at the 2023 Benzinga Cannabis Capital Conference.
Fact-Finding Mission: Over the years, the Food and Drug Administration (FDA) has been on a fact-finding mission since the passing of the Farm Bill in 2018.
“We followed the information,” FDA Senior Advisor Patrick Cournoyer said at the Benzinga Cannabis Capital Conference on Sept. 28.
Cournoyer said there were limits to several pharmaceutical ingredients in food and a decision had to be made if cannabidiol (CBD) was safe enough to be marketed as food.
Over the last five years, Cournoyer said that the FDA has been “diligently looking” into this question ...