Latest news with #drugclassification
Al Jazeera
12-08-2025
- Business
- Al Jazeera
Trump says he may reclassify cannabis as less dangerous drug
United States President Donald Trump has said his administration is 'looking at' reclassifying cannabis as a less dangerous drug. Speaking to reporters at the White House on Monday, Trump said he would make a determination on the legal classification of the drug over the next few weeks. 'That determination hopefully will be the right one,' Trump said. 'It's a very complicated subject.' Trump said that while he had heard 'great things' about medical-use cannabis, he had heard bad things about 'just about everything else' to do with the drug. 'Some people like it, some people hate it,' he said. 'Some people hate the whole concept of marijuana because if it does bad for the children, it does bad for people that are older than children.' Stocks in cannabis-related businesses soared following Trump's remarks. New York-based Tilray Brands jumped nearly 42 percent, with Canada's Village Farms International and Canopy Growth Corp closing up about 34 percent and 26 percent, respectively. Trump made his comments after The Wall Street Journal reported last week that he told attendees at a recent fundraising dinner that he was interested in reclassifying the drug. While cannabis is fully legal, including for recreational use, in 24 US states, the use and possession of the drug is illegal at the federal level. Cannabis is currently classified as a Schedule I drug, putting it in the same category as heroin, LSD and ecstasy. Under the Drug Enforcement Administration's classification system, Schedule I drugs are defined as those with 'no currently accepted medical use and a high potential for abuse'. Former US President Joe Biden proposed reclassifying cannabis as a Schedule III drug – defined as those with a 'moderate to low potential for physical and psychological dependence' – but failed to enact the change before leaving office in January.
Associated Press
11-08-2025
- Business
- Associated Press
Trump May Reclassify Marijuana - MMJ BioPharma To Escape The DEA's Seven Year Cannabis Trial Roadblock?
Trump said his administration will focus on research to unlock the medical uses of marijuana, and other priorities the marijuana industry has sought. However, will employees within the DEA continue trying to block President Trumps marijuana orders? WASHINGTON, DC / ACCESS Newswire / August 11, 2025 / President Donald J. Trump is thinking about moving marijuana to a lower drug classification, according to the Wall Street Journal and other reports. If he does, it will finally crack open the door for companies like MMJ BioPharma Cultivation - and for patients who have been waiting far too long for real, FDA-approved cannabis medicines. At a recent private fundraiser, Trump said he was looking at reclassifying marijuana from Schedule I - the same category as heroin - to Schedule III. This wouldn't make marijuana completely legal, but it would make a huge difference. It would loosen strict federal rules, open the door for more research, and let legitimate companies like MMJ BioPharma deduct normal business expenses. It could also speed up FDA clinical trials for new medicines. For MMJ BioPharma, this change would be nothing short of a lifeline. 'Over the past seven years, we've poured millions of dollars into doing everything by the book', stated Duane Boise CEO. We've done it all - except one thing: get the DEA's approval to grow the cannabis needed for our trials. Seven Years, DEA No Action Back in 2018, MMJ applied for a DEA license to grow pharmaceutical-grade cannabis for our FDA-approved research. That's the one piece we can't do without. And yet, after seven years, we're still waiting. We've met every legal requirement. We've passed every inspection. We've followed every rule. But the DEA has refused to move forward. This isn't just frustrating - it's directly against the Medical Marijuana and Cannabidiol Research Expansion Act, a law Congress passed in 2022 to speed up approvals for legitimate cannabis research. Instead of following the law, the DEA has buried our application in bureaucracy. Meanwhile, patients are left empty handed. How Trump Could Break the Deadlock When Trump reclassifies marijuana to Schedule III, it will tear down the DEA's most restrictive barriers to research. That would allow companies like ours to: The Stakes Are Personal While the DEA drags its feet, Trump is looking at issues that unite most Americans - the so-called '80-20 issues' that have wide support. Medical cannabis is one of them. Nearly everyone agrees that if a medicine can be proven safe and effective, patients should have access to it. For MMJ BioPharma, the past seven years have been a master class in patience - and pain. We've built the labs, hired the scientists, perfected the medicine, and followed the rules to the letter. Yet we've been stuck in limbo because one agency won't do its job. When Trump acts, it could finally end the waiting game. It would be a win for science, a win for patients, and a win for every company that plays by the rules. If the DEA keeps dragging its heels, it will remain a textbook example of government failure - the kind that puts politics before patients. MMJ is represented by attorney Megan Sheehan. CONTACT: Madison Hisey [email protected] 203-231-8583 SOURCE: MMJ International Holdings press release
