The Week In Cannabis: Isiah Thomas, Tilray, The DEA, Ohio, Mexico And More

Below is a recap of the main news related to the industry and markets for the week of December 6, 2021.

Contents

  1. Isiah Thomas Appointed Executive Chairman Of One World Products' Board
  2. Tilray Accused Of Breaching License Agreement With IntelGenx
  3. DEA Supports White House Plan To Streamline Research Of Psychedelics and Cannabis
  4. Wells Fargo Rates Four Cannabis Stocks
  5. Marijuana Banking Reform Bill Chopped From Congressional Defense Bill In Bicameral Talks
  6. Mexico: Supreme Court Approves Low-THC Cannabis Production
  7. Markets
  8. M&A
  9. Financings
  10. Earnings Reports
  11. Ohio Republicans File Cannabis Legalization Bill
  12. Cannformatics Discovers Tool For Objectively Measuring Medical Cannabis Benefits In Children With Autism
  13. Nasdaq Debuts
  14. Sundial Still Committed To Deal With Liquor Retailer Alcanna Despite Cannabis Market Volatility
  15. Cannabis Produced Without Growing The Plant
  16. Confia x NCIA
  17. Top Stories Of The Week

Isiah Thomas Appointed Executive Chairman Of One World Products' Board

One World Products (OTC: OWPC), a company formerly known as One World Pharma, which recently changed its name to "One World Products: Sustainable Hemp and Solutions,” will announce on Wednesday it has named Isiah Thomas as executive chairman of its board of directors.

Thomas will continue to serve in his role as CEO of the company, which is one of the largest Black-controlled licensed and hemp producers in the U.S. with offices in Las Vegas and operations in Colombia.

Benzinga Cannabis’ content is now available in Spanish on El Planteo.

Tilray Accused Of Breaching License Agreement With IntelGenx

On the heels of Tilray Inc. (NASDAQ: TLRY) announcing that its medical subsidiary Aphria launched oral strips in THC and CBD-rich varieties, IntelGenx Corp. (TSX: IGX) (OTCQB: IGXT) revealed that it had initiated an arbitration proceeding against Tilray related to an alleged breach of the parties’ 2018 license, development and supply agreement, as amended with Tilray for the co-development and commercialization of cannabis-infused VersaFilm products.

IntelGenx, which is focused on the development and manufacturing of pharmaceutical films, noted that Tilray’s press release on the launch of the medical cannabis strips represented a material breach of the agreement.

 “We believe that this demonstrates a disregard of contractual obligations by Tilray,” Dr. Horst G. Zerbe, CEO of IntelGenx stated. ”We remain committed to protecting our commercial rights and are prepared to take any necessary legal steps in that regard. Making our innovative and high-quality oral thin film products available to medical and recreational cannabis consumers remains a top priority for IntelGenx.”

Recommended read: DEA Vs. HHS: Who Is To Blame For Cannabis Still Being A Schedule 1 Drug?

Benzinga reached out to Tilray for comment on this issue but did not receive a response prior to the time of this writing on Thursday morning.

DEA Supports White House Plan To Streamline Research Of Psychedelics and Cannabis

While testifying at a recent House subcommittee hearing, the Drug Enforcement Administration (DEA) and National Institute On Drug Abuse (NIDA) signaled their willingness to align with a White House proposal that seeks to streamline the process of researching Schedule I drugs.

The federal government’s treatment of Schedule I drugs, which includes LSD, MDMA, cannabis and peyote, is defined by the DEA as having “no accepted medical use and a high potential for abuse” has prevented many beneficial drugs from being readily obtained and studied by researchers.

Studies are showing that cannabis and a variety of psychedelic drugs are proving effective for treating a range of mental injuries, for instance, clinical studies of MDMA-assisted therapy to treat PTSD, which is currently in Phase III trials with the FDA.

Marijuana Moment reported that the DEA has said in written testimony that “expanding access to Schedule I research is a critical part of the DEA’s mission to protect public safety and health.”

The proposal looks to align research limitations of Schedule I drugs with those of less-restricted Schedule II drugs, which include effective and widely prescribed drugs like hydrocodone, Adderall and Ritalin. Researchers and policymakers alike have pointed out that existing protocols for studying Schedule I substances have for decades restricted essential research of therapies that could save lives.

Wells Fargo Rates Four Cannabis Stocks

Wells Fargo’s (NYSE: WFC) analyst Chris Carey initiated coverage of four stocks in the cannabis space in his latest analyst note. The cannabis stocks on Carey’s radar include Canopy Growth (NASDAQ: CGC), Scotts Miracle-Gro Co. (NYSE: SMG), Hydrofarm Holdings Group Inc. (NASDAQ: HYFM) and GrowGeneration Corp. (NASDAQ: GRWG).

Scotts Miracle-Gro, which produces consumer lawn, garden and pest control products also utilized in the marijuana space, owns the Hawthorne line of …

Full story available on Benzinga.com

Scotts Miracle-Gro, which produces consumer lawn, garden and pest control products also utilized in the marijuana space, owns the Hawthorne line of …

Full story available on Benzinga.com

More The Week In Cannabis: Isiah Thomas, Tilray, The DEA, Ohio, Mexico And More