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Celadon Pharmaceuticals Named First UK Company to Obtain License For Medical Marijuana Sales

Celadon Pharmaceuticals Named First UK Company to Obtain License For Medical Marijuana Sales

Tuesday saw a significant revision to Minnesota’s adult-use recreational marijuana legislation with the addition of new wording to control and safeguard the state’s expanding low-potency edibles and drinkables market.

Since last year, Minnesota has legalized low-potency products using THC derived from industrial hemp rather than full-strength cannabis. Yet, the law that authorized them lacks a strong framework for regulating goods like gummies and seltzers with dosages limited to 5 milligrams of THC, which quietly passed with many politicians seemingly oblivious of what it did.

When it came to a stop on Tuesday in the State and Local Government Committee, the hemp clauses were added to the Senate version. A similar amendment will be added to the House version of the measure next week when it returns to the Commerce Committee, said the primary House author and committee chairman, Democratic Rep. Zack Stephenson, of Coon Rapids.

The other lead author, Democratic Sen. Lindsey Port of Burnsville, told the state and local government panel, “The prohibition of cannabis is a failed system that has not achieved the desired goals. It has cost our communities a fortune, particularly communities of color.

ALSO READ: Minnesota Senate Debates Gun Regulation, Legalizing Pot, And Social Security Tax Repeal!

Celadon Pharmaceuticals Named First UK Company to Obtain License For Medical Marijuana Sales

The 142-page amendment passed on Tuesday includes “significant adjustments” to give local governments more control, but they would still be prohibited from outright banning cannabis businesses, according to Port. These provisions deal extensively with regulatory and licensing provisions to address stakeholder feedback, she said. And she claimed it ensures that the industrial hemp industry won’t incur disproportionate burdens.

As hemp-derived THC products aren’t prohibited under federal law like marijuana is, manufacturers and merchants may access financing and banking, and their business expenses are tax deductible. But, they expressed worries that the bill’s original phrasing will disadvantage their market niche by putting them in the same category as recently legalized cannabis enterprises.

ALSO READ: Minnesota Senate Debates Gun Regulation, Legalizing Pot, And Social Security Tax Repeal!

The legalization bills in the House and Senate have already cleared more than 20 committees between the two chambers, but they still need to pass a few more before going to the floor for votes. Though a version of legalization was approved by the House last year, it is uncertain whether supporters will be able to secure enough votes to pass it in the Senate, where Democrats only hold a one-seat majority. Tim Walz, a Democrat, is in favor of legalization.

At the halfway point of what has been a hectic 2023 session, Stephenson told reporters that he is “very, really good” about the chances of passing the bill this year. The bill has improved significantly since it was first introduced as a result of the hearing process, he claimed.

We are progressing as well as we could have expected, added Stephenson. “I believe there is considerable support for the bill in my caucus, and I anticipate that when we get to the floor, there will be some Republican support as well.”

Several substantial modifications still need to be made, he added, such as changing language when a fiscal study is finished to find a “sweet spot” where license costs for cannabis companies are neither too high nor too low to discourage those without capital from opening shops.

The majority of the bill’s significant amendments are likely nearing their conclusion, according to Stephenson. From a policy perspective, we “are probably getting close to a finished product,” but there will probably be some more dollar-and-cents modifications.

The campaign manager for the pro-legalization MN is Ready group, Leili Fatehi, told reporters that she is optimistic about obtaining some GOP support in the Senate and that she is certain about obtaining the necessary votes. But according to her, their current priority has been to tailor the measure such that the rules will work as intended if it is passed.

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