September 27, 2016 - "British cannabis company GW Pharmaceuticals has conducted a successful clinical trial in which it treated epileptic children with one of its marijuana-based drugs, triggering a surge in the company’s stock price.
According to Reuters, tested doses of GW Pharmaceutical’s drug Epidiolex “were found to have induced a statistically significant improvement in reducing seizures” in patients with a particular type of epilepsy during phase III clinical trials.
On Monday, after news of the trials broke, the publicly traded company’s stock shot up 16% to a record high of 811 pence on the London Stock Exchange, Reuters reported. The news agency has said the company is a possible takeover target.
The next step for GW Pharmaceuticals is approval by the U.S. Food and Drug Administration. The company plans to submit a marketing application for Epidiolex to the agency during the first half of next year."
September 29, 2016 - "A new poll in Massachusetts shows 53% of state voters support a ballot measure to legalize recreational marijuana, with 40% opposed and 7% undecided.
The poll is the second in less than three weeks to show Massachusetts voters supporting the recreational marijuana legalization ballot measure, which they will decide on Nov. 8. That’s a dramatic shift from previous polls just a few months ago that showed voters split over the measure or rejecting it.
The measure received majority support from every demographic group except voters who were older than 55 and described themselves as “conservatives,” according to WBZ, the CBS news affiliate in Boston. WBS conducted the poll of 700 people with the University Massachusetts-Amherst."
September 29, 2016 - "The enactment of laws regulating the adult use, production, and retail sale of cannabis in four states has had negligible, if any, adverse impact on overall health and safety, according to an analysis commissioned by the CATO Institute - a Washington, DC think-tank.
Researchers from Harvard University and Western Carolina University assessed the impact of marijuana legalization laws in Alaska, Colorado, Oregon, and Washington on a variety of health and safety outcomes, including drug use, suicide rates, substance abuse treatment admissions, crime rates, and road safety.
Authors concluded: "State marijuana legalization [laws] have had minimal effect on marijuana use and related outcomes. The absence of significant adverse consequences is especially striking given the sometimes dire predictions made by legalization opponents."
By contra$t, authors determined that legal Changes have had a significant impact on generating new $tream$ of state tax revenue. "One area where legal marijuana has reaped unexpectedly large benefits is state tax revenue," researchers concluded. In some jurisdictions "the$e figure$ are ABOVE some pre-legalization foreca$t$."
October 3, 2016 - "California’s medical cannabis industry reported $845 million in retail sales via nearly 2,800 dispensaries over a recent 12-month period, according to exclusive data obtained by Marijuana Business Daily.
The figures offer a snapshot of the size and scope of California’s massive medical cannabis market, though actual sales are likely much higher because of the unregulated nature of the industry in the state. The numbers also provide a hint of what’s possible if California legalizes recreational marijuana this fall.
While $845 million in sales is a staggering figure, the true market is likely bigger than it appears."
October 4, 2016 - "Only seven dispensaries have opened in the four years since Massachusetts voters overwhelmingly approved legalizing medical marijuana, reflecting opposition in some communities.
Local opponents cite concerns that dispensaries would bring an increase in crime and that the stores don’t mesh with small-town values, among others.
The opposition has made it more difficult for MMJ entrepreneurs to do business in the state and could signal additional hurdles should Massachusetts voters approve legalization of recreational cannabis on Nov. 8.
In September, Massachusetts health regulators proposed changes to the state’s medical marijuana program to help increase patient numbers. The state had nearly 30,000 active patients registered through the end of August, as well as 167 registered physicians.
A recent poll showed that 53% of Massachusetts voters are in favor of recreational marijuana, but 41% said they’d be bothered by a marijuana store in their neighborhood."
October 5, 2016 - "The fourth recreational marijuana industry in the United States is ready for launch.
Alaska’s adult-use program is just a few weeks from the first retail sales, according to estimates by multiple sources. A number of rec shops are scrambling to open their doors, perhaps by month’s end.
The last hurdle is that local and state authorities must clear testing labs to open so cultivators can have their crops checked for potency and microbial contaminants. After that, growers will be allowed to begin supplying retailers, with owners putting the finishing touches on their storefronts."
October 6, 2016 - "The youngest son of late reggae star Bob Marley has joined with Ocean Grown Extracts to convert a former California state prison into a multimillion-dollar marijuana growing operation, a project that could spur other municipalities in the state to lure MJ businesses for their economic impact.
According to Billboard, Damian “Jr. Gong” Marley, also a reggae musician, sees turning the space into a grow operation as “poetic justice” for all the nonviolent criminals who were once incarcerated there.
The project came to the forefront last July when the central California city of Coalinga put its former prison up for sale for $4.1 million. The deal was intended to help pull the city up out of $3.3 million in debt. It’s estimated the new operation will generate about 100 jobs and generate around $1 million in tax revenue for Coalinga."
October 6, 2016 - "The enactment of statewide medicinal cannabis programs is associated with greater participation in the workforce by those age 50 and older, according to the findings of a working paper published by the National Bureau of Economic Research.
Researchers at the John Hopkins School of Public Health in Baltimore and Temple University in Philadelphia analyzed two-decades of data from the Health and Retirement Study, a nationally representative survey of Americans over 50 and their spouses, to determine the impact of medical marijuana access laws on subjects' health and workforce participation.
Authors reported, "Health improvements experienced by both groups (older men and women) permit increased participation in the labor market." Specifically, investigators determined that the enactment of medical marijuana laws was associated with a "9.4 percent increase in the probability of employment and a 4.6 percent to 4.9 percent increase in hours worked per week" among those over the age of 50.
Previous analyses of the impact of medical cannabis laws on various health and welfare outcomes report that legalization is associated with a reduction in obesity-related medical costs, decreased rates of opioid addiction and mortality, fewer workplace absences, and reduced Medicare costs."
October 12, 2016 - "As five states prepare to vote on legalizing recreational marijuana in November, a new Pew Research Center poll shows the majority of Americans favor legalization.
According to Pew, 57% of Americans say marijuana should be legal, with 37% opposed. Ten years ago the numbers were flipped, with 60% saying it should be illegal and 32% in favor of legalization. The latest poll was conducted Aug. 23-Sept. 2 among 1,201 U.S. adults."
October 13, 2016 - "Inhaling cannabis improves symptoms of Parkinson's disease, according to clinical data published online ahead of print in the European Journal of Pain.
Investigators at Tel Aviv University and the Rabin Medical Center in Israel assessed the impact of cannabis exposure on motor symptoms and pain parameters in patients with Parkinson's disease.
Researchers reported that cannabis inhalation was associated with improved symptoms 30-minutes following exposure. "Cannabis improved motor scores and pain symptoms in PD patients," authors concluded.
A prior Israeli trial evaluating the impact of cannabis on PD patients reported "significant improvement after treatment in tremor, rigidity, and bradykinsea (slowness of movement) ... [as well as] significant improvement of sleep and pain scores."
Over 20,000 Israeli patients receive cannabis under a federally regulated program. Over 90 percent of those participants report significant improvements in pain and function as a result of their medicinal cannabis use."
October 14, 2016 - "Marijuana sales in Colorado continue to reach new highs, fueled by increasing demand for recreational cannabis.
Sales of medical and adult-use marijuana hit $846 million during the first eight months of 2016, up 33% from the same period last year, according to calculations by Marijuana Business Daily based on the latest state tax data."
March 2, 2016 - "The shadow of a looming school finance case hung over a Kansas House committee hearing Wednesday on legislation allowing taxpayers to more easily donate money to local schools.
House Bill 2590 would place an option for donation on state individual income tax returns.
“Check if you wish to donate, in addition to your tax liability, or designate from your refund,” the new provision would say.
It would provide options for $1, $5, $10 and empty spaces for taxpayers to write in their donation of choice and unified school district of choice. The change would take effect beginning in 2017.
Two school superintendents testifying Wednesday were cautiously supportive of the legislation but warned it shouldn’t be considered a panacea to the state’s school finance woes.
“This bill does not resolve the concerns that I have with the overall issues of school funding,” said Renwick USD 267 superintendent Tracy Bourne. “However, it does provide some potential new revenue sources in a time when schools are struggling.”
October 13, 2016 - "Scotts Miracle-Gro remains a Wall Street darling, thanks to its recent investments in businesses and products that serve cannabis cultivators.
Scotts has watched its stock rocket about 30% this year ahead of an important election year for the marijuana industry, Bloomberg News reported.
The Ohio-based lawn care company’s stock first surged past $80 per share in early August and has been trading just above that since then. It reached new highs on Monday when it hit $84.19, surpassed $86 on Wednesday and broke yet another record Thursday by hitting $86.27 before closing the day at $85.59."
October 22, 2016 - "Sensing a ma$$ive opportunity, financial executives are moving rapidly into the nascent marijuana industry. It's a sign that a once-maligned plant could now potentially be a multi-billion dollar industry.
A report from the nonpartisan Tax Foundation in May found that legalizing weed could generate up to $28 billion in federal, state, and local tax revenue — about the same as the GDP of North Korea.
"The overall landscape will have reached a point of critical mass, and the cannabis industry will be too big to ignore," Al Foreman, a partner at Tuatara Capital, an alternative investment manager specifically focused on the marijuana industry, previously told Business Insider."
October 17, 2016 - "A Michigan Senate agency forecasts that the state’s medical marijuana market could exceed $711 million annually if the prices and consumer habits are similar to those in Colorado’s medical marijuana market.
The Michigan Senate Fiscal Agency, a nonpartisan group created to provide legislative analysis and fiscal forecasts to the state senate, estimates there are 204,000 patients in the state, Crain’s Detroit Business reported.
In September, Michigan lawmakers approved a set of sweeping regulations for the state’s sizable medical marijuana industry, paving the way for a statewide oversight and licensing system for MMJ businesses.
Under new regulations that go into effect in December, Michigan marijuana businesses will face a 3% excise tax and possibly a 6% sales tax. They also will face state and local licensing fees.
The Senate agency’s patient count is slightly higher than the estimate contained in the 2016 Marijuana Business Daily Fact Book, which puts the number at 179,000 individuals in Michigan. Dispensary sales this year are expected to range from $140 million to $180 million, which is down from last year’s estimated sales of $180 million-$220,000."
October 17, 2016 - "State lawmakers from Tennessee and New Jersey have traveled to Colorado recently to glean insights from the medical and recreational marijuana industries there and investigate the potential economic benefits for their own states.
The visits are expected to fuel efforts to pass legislation next year expanding MMJ in Tennessee and establishing adult-use cannabis in New Jersey.
According to news reports, Tennessee state Rep. Jeremy Faison paid his own way to travel to Colorado to meet with families who have moved from his state to Colorado for cannabis. He also met with military veterans suffering from post-traumatic stress disorder, medical professionals and farmers, and he toured MMJ grow operations.
“Farmers will be able to benefit greatly, and if our farmers benefit, everyone benefits,” Faison told WBIR.
Meanwhile, nine lawmakers from New Jersey, including the Senate president and Assembly majority leader, also visited the Centennial State. They met legislators, members of Gov. John Hickenlooper’s administration, health officials, farm and dispensary owners, as well as the people who drafted Colorado’s adultuse cannabis amendment, according to NJ.com.
“This is not a joke,” Scutari told NJ.com. “This is big money, and it’s great savings to the state.”