US President Biden signs landmark Medical Marijuana Research Bill set to significantly advance the industry’s future.
Key Points
Joe Biden has officially signed a marijuana research bill into law, making history by enacting the first piece of standalone federal cannabis reform legislation in U.S. history.
The law gives the U.S. attorney general 60 days to approve an application or request supplemental information from the marijuana research applicant.
The bill also paves the way for research institutions to grow their own cannabis or import cannabis for medical research purposes.
The bill is seen as a major step forward for federal cannabis reform across the US and Creso Pharma remains well positioned to capitalise.
The company has a strong track record of R&D, which has led to product development and commercialisation across its multiple business divisions.
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CEO and Managing Director, Mr William Lay said:
"This is a major development which sets the stage for potential future legislative developments. Any move to legalise cannabis at the federal level would provide Creso Pharma with the ability to leverage its existing, 100%-owned US subsidiary, Sierra Sage Herbs LLC., and its cannabis experience from Mernova Medicinal Inc., to rapidly enter the lucrative US market."
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