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Marijuana should be reclassified as a Schedule III drug because the plant appears to have medical uses and is less dangerous than other drugs, according to an HHS document that was just made public.
Addressing a 252-page review, the HHS deputy secretary for Health Rachel Levine wrote that based on evaluations by FDA scientists, cannabis should become a Schedule III substance. It is currently listed as a Schedule I drug, meaning it has no recognized medical uses.
Although the review is dated August 2023, it did not come to light until Friday night thanks to attorney Matthew Zorn, who filed a lawsuit for its publication. It was first published on the website. About drugs.
In a cover letter to DEA Administrator Anne Milgram, Levine said the National Institute on Drug Abuse agrees with his recommendation.
The review carried out analyzed eight factors that influence the level of control that a drug should have. This includes the potential for abuse and the likelihood of psychological or physiological dependence.
Although the review found conflicting evidence about effectiveness in many medical conditions, the area where the evidence was strongest for cannabis was for pain treatment. There was also positive evidence that marijuana is effective for anorexia, as well as nausea and vomiting associated with chemotherapy.
And although marijuana dependence is a concern for some users, “the likelihood of serious outcomes is low,” according to FDA scientists.
The review and recommendation is sure to excite multi-state cannabis operators who have been pushing for legalization at the federal level as well as banking reforms for their industry.
The public release of the document came the same day that a dozen state attorneys general asked the DEA to reclassify marijuana as a Schedule III substance.
Multi-state operators: MedMen Enterprises (OTCQB:MMNFF), Curaleaf Holdings (OTCPK:CURLF), Acreage Holdings (OTCQX:ACRHF), Cresco Labs (OTCQX:CRLBF), Green Thumb Industries (OTCQX:GTBIF), Trulieve Cannabis (OTCQX): TCNNF), Ayr Wellness (OTCQX:AYRWF), TerrAscend (OTCQX:TSNDF), Verano Holdings (OTCQX:VRNOF) and Ascend Wellness (OTCQX:AAWH).
Canadian licensed producers: Canopy Growth (CGC), Tilray Brands (TLRY), Cronos Group (CRON), Aurora Cannabis (ACB), SNDL Inc. (SNDL), OrganiGram Holdings (OGI).
