RIP US Cannabis Industry – The US Federal Government Gives Approval for South American Cannabis Imports into the USA

June 10, 2023 ·

First Ever Cannabis Importation From Uruguay To The United States Could Change The Industry Forever

Is this good news or bad news?

In an exclusive announcement from Benzinga, a breakthrough partnership between MMJ International Holdings and Global Cannabis Production (GCP) has just been announced – one that has the potential to alter how the worldwide marijuana industry operates entirely.

The two companies announced a joint partnership to get the enable the first-ever importation of tetrahydrocannabinol (THC) products into the United States from Uruguay. In addition, they are also inking a deal to produce cannabis-based pharmaceuticals to sell internationally. Once established, this will revolutionize patient access to cannabinoid medicines while also marking a milestone in cannabis medicine and cannabis research.

This can change the cannabis industry in many ways, primarily because the DEA has approved Schedule 1 substances, THC in particular, from alternative sources and in this case Uruguay – to laboratories in the United States. For a very long time, researchers only have access to marijuana grown by the University of Mississippi, because they were the only legal supplier of THC products for US research. That will finally change, thanks to the new deal with MMJ International Holdings and Global Cannabis Holdings.

The two companies will be linking up with Bright Green Corporation, who also announced recently that they received their federal license from the DEA to grow, manufacture, and sell marijuana as well as related products for use in pharmaceutical and research purposes.

Colombia, another South American country, is already shipping cannabis around the world under resolution 539 of their constitution.

The Problem with Cannabis Supplied by the University Of Mississippi

Cannabis research in the United States has been stalled for many years because of the very fact that the University of Mississippi was the only federally-approved source of marijuana; Ole Miss was under contract with the National Institute on Drug Abuse (NIDA) for this matter. This has been the case for over 50 years.

Researchers complained about the quality of cannabis provided to them because it had undergone severe processing; it was dried, and oftentimes stored in a freezer in temperatures under -20 celsius. Anyone worth their salt can tell you that no quality cannabis has ever been stored in a freezer – more so to be used for research purposes? The freezing not only kills off the quality and integrity of the marijuana, but it also dries out the valuable terpenes in the plant.

What makes it worse was that the marijuana had undergone radiation to get rid of any mold and yeast.

How can any quality research come about using weed that couldn’t be further off from the actual marijuana available in dispensaries?

After numerous complaints, in 2021, the Drug Enforcement Administration finally allowed American companies to apply in order to produce marijuana for both scientific and medical purposes. While this move did look good on paper and temporarily gave hope to the cannabis industry, the DEA acted very slow on these applications.

There is no doubt there has been a monopoly for far too long, and many have fought back. It’s about time that the federal monopoly no longer exists – for the sake of countless people who need access to medicine, and proper research and clinical trials to back up the safety and efficacy of such cannabinoid medicines for certain illnesses.

Back to the joint deal, this would be a tremendous help for the industry and research as a whole because it will finally be able to provide a “consistent indoor, reproducible supply” of marijuana that has been approved by the DEA. It will enable significant research to yield valuable information for doctors and patients, while helping to expand the possible development of more cannabinoid medicine in the near future.

A Greener Future

MMJ together with GCP are determined to create FDA-approved cannabinoid medicines to help patients particularly those that struggle with the availability of medications for their conditions today.

Recently, the FDA awarded MMJ the Orphan Drug Designation for their Investigational New Drug Application for Huntington’s disease. They also predict to receive their Fast Track Designation from the same agency, for their clinical trials this time. Meanwhile, GCP has been a pioneer in cannabis production; they also have solid partnerships with pharmaceutical companies in South America.

“We are excited to partner with GCP to bring breakthrough treatment options to patients in need,” explained MMJ CEO, Duane Boise. “Our mission is to improve the lives of patients, and this partnership is a major milestone in our commitment to developing novel cannabinoid-based prescription medicines.”

Both companies demonstrate their commitment in changing the face of cannabis medicine while improving patient access.

“We are proud to partner with MMJ and support their mission to improve patient care through the development of novel prescription medicines,” David Luftglass, GCP’s CEO adds. “Together, we are positioned to create a positive impact in the medical and pharmaceutical industries and provide patients with safe, consistent, and effective cannabis-based products.”

Since Global Cannabis Holdings has a relationship with some of the biggest cannabis cultivation facilities in South America, saying that they are capable of offering quality and safe cannabis is an understatement. They are very much in a position to supply pharmaceuticals and the medical sector with a consistent supply of the cannabis needed to make life-saving medicine.

The first legal import of cannabis products from Uruguay is expected to happen within this year. (Full Story)

In category:International
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