In a surprising move considering the current COVID-19 pandemic, the Drug Enforcement Administration (DEA) has removed the CBD-based epilepsy medication Epidiolex from UK-based GW Pharmaceuticals and their US subsidiary Greenwich Biosciences from the federal controlled substances list. This move will dramatically increase the availability of Epidiolex and hopefully open the door to more CBD based medication.
Originally approved in June 2018 by the FDA, Epidiolex holds a unique position as the only CBD based medication approved by the FDA with its purpose being to treat severe cases of epilepsy. A doctor’s prescription is still required to get the medication, but that prescription will now be viable up to a year and enjoy greater mobility.
In a press release, GW Pharmaceuticals CEO Justin Gover said “This notification from DEA fully establishes that EPIDIOLEX, the only CBD medicine approved by FDA, is no longer a controlled substance under the federal Controlled Substances Act. We would like to thank DEA for confirming the non-controlled status of this medicine.”
While GW had seen their stock price get as low as $72 in March 2020, the news seemed to rally the price back to $95 in early April 2020, still a far cry from the $187 price in July 2019 however.
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