… that right!
GW Pharmaceutical plc (GWPH) $138.46 has hit the jackpot with a new treatment for rare forms of epilepsy, the first U.S. prescription drug developed from the lowly marijuana plant. GWPH plans to charge $32,500 per patient for a year’s supply of Epidiolex, also known as cannabidiol, to reduce seizures such as Lennox-Gastaut and Dravet syndromes in patients 2 years of age and older. Out-of-pocket costs are estimated at $10 per month for those in state Medicaid programs to $200 a month for private insurance plans. The uninsured patient may qualify under drug-free programs. Whatever the case, the pot drug will be in the public market.
Now what? The U.S. Food and Drug Administration finally sanctioned pot as a useful substance in direct conflict with the U.S. Drug Enforcement Administration. Such an event forces the federal drug enforcement agency to assign Epidiolex a/k/a pot oil a controlled -substance classification with distribution through specialty pharmacies that ship directly to patients and caregivers.
Wow! Thirty-seven current laws on federal and state books would be violated, especially issues concerning interstate commerce and direct distribution.
Epidiolex is just the beginning, at least 410 pot drugs are in the pipeline or planned for various treatments and approval of most appears likely. The federal government cannot turn a blind-eyes to such events and must address the real value of low marijuana.