Cannabis’s move to Schedule III of the federal Controlled Substances Act marks a turning point for pharmaceutical companies’ investment in cannabis drug development by removing most of the barriers to entry that deterred them from cannabis under Schedule I and unlocking a lucrative new federal market for cannabis-based prescription drugs.
The Drug Enforcement Administration’s proposal to move cannabis to Schedule III should be finalized in early 2025, assuming there are no election-related setbacks in November. After it’s rescheduled, the Food and Drug Administration (FDA) can start approving cannabis-based drugs for sale at regular pharmacies, which unlocks a $2 trillion market ...
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