MGC Pharmaceuticals well positioned to benefit from UN’s decision to reclassify cannabis as less dangerous drug

() () (FRA:H5O) is expected to benefit from the United Nations’ (UN) decision to remove cannabis and its derivatives from schedule IV following recommendations from the World Health Organisation (WHO).

Cannabis and its derivativities will now be contained under Schedule I of the 1961 UN Single Convention on Narcotic Drugs.

The removal of cannabis and its derivatives from schedule IV means that the UN accepts the opinion of the WHO that cannabis is not “liable to produce ill-effects” on the scale of other drugs in Schedule IV, and that cannabis has significant potential therapeutic value.

This removal, alongside other legislative changes announced this year, further demonstrates the rapidly changing political perspectives on cannabis and the use of cannabis for medicinal purposes which will make operating in the sector less challenging, more efficient and more profitable.

“Effectively validates the global medicinal phytocannabinoid market”

MGC Pharma co-founder and managing director Roby Zomer said: “The vote from the UN is very significant as it effectively validates the global medicinal phytocannabinoid market where MGC Pharma has been established and operating for a number of years.

“The…

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