Why all the excitement about CBD? “CBD is growing faster than cannabis in the U.S. and will soon be a $22 billion industry. It’s been flying under the radar but is set to explode having profound impacts on CPG and Pharma” says industry expert, Brightfield Group. https://www.brightfieldgroup.com/.
It’s impact on pharmaceutical industry was all the buzz last week following news that the DEA has approved Epidiolex, an epilepsy drug created by GW Pharmaceuticals, as a Schedule V controlled substance. Epidiolex is an oral solution that contains cannabidiol (CBD) extracted from the cannabis plant. This is the first FDA-approved drug made from the cannabis plant.
The September 28 [th] notice from the Drug Enforcement Administration, Department of Justice said, “With the issuance of this final order, the Acting Administrator of the Drug Enforcement Administration places certain drug products that have been approved by the Food and Drug Administration (FDA) and which contain cannabidiol (CBD) in schedule V of the Controlled Substances Act (CSA). Specifically, this order places FDA-approved drugs that contain CBD derived from cannabis and no more than 0.1 percent tetrahydrocannabinols in schedule V.”
This news sent several CBD stocks moving to the upside including Tilray Inc, also making inroads into Pharma. On September 18 [th] the company announced that “the U.S. Drug Enforcement Administration (DEA) has granted approval to import a cannabinoid study drug into the United States from Canada for a clinical trial at the University of California San Diego (UC San Diego) Center for Medicinal Cannabis Research (CMCR) examining its safety, tolerability and efficacy for Essential Tremor (ET).”
The news also went on to say, “Tilray is providing a cannabinoid formulation for the trial in capsule form, which will allow researchers to test an investigational drug product containing two active ingredients extracted from the cannabis plant, cannabidiol (CBD) and tetrahydrocannabinol (THC). Dr. Fatta Nahab, a board-certified neurologist and director of the Functional Imaging of Neurodegenerative Disorders Lab at the UC San Diego Health’s Movement Disorder Center, will serve as the principal investigator for the study. It is expected to begin in early 2019 with financial support from Tilray and the International Essential Tremor Foundation.”