Gail Javitt Cited in “The Need for Weed: Why Wall Street Is Getting Hooked on Cannabis”

Financial Times

Gail H. Javitt, Member of the Firm in the Health Care & Life Sciences practice, in the Washington, DC, office, was cited in the Financial Times, in “The Need for Weed: Why Wall Street Is Getting Hooked on Cannabis,” by Nicole Bullock. (Read the full version – subscription required.)

Following is an excerpt:

Already some US states have legalised cannabis for medical or recreational use. At the federal level, too, there is traction: the farm bill, passed late last year, opened a new front of opportunities by taking hemp off the list of controlled substances and making it permissible for US farmers to grow it for industrialised use. The bill defined industrial hemp as a variety of cannabis with a concentration of THC — the part of the plant that gets users high — of less than 0.3 per cent.

One wrinkle remains the position of the Food and Drug Administration, noted Gail Javitt of the law firm, Epstein Becker & Green in Washington, DC. The FDA has said that products making therapeutic claims around cannabis-derived products need its approval and that it remains unlawful to introduce food and dietary supplements containing CBD for interstate commerce.