Parent Of N.Y. Medical Marijuana Company Seeks To Make FDA-Approved Drugs

[Jacob Redmond]

The parent of a new Fulton County business has its sights set on being the first state-licensed medical marijuana company to develop medicines approved by the U.S. Food and Drug Administration.

FDA approval could make medical cannabis eligible for prescription drug coverage. The drug is not currently covered by insurance companies because the federal government classifies it as an illegal, controlled substance.

Vireo Health on Wednesday announced exclusive agreements with Ligand Pharmaceuticals to use the California-based company's Captisol technology to develop cannabinoid-based medicines. Captisol, a patented agent that makes drug compounds more stable and easier to dissolve, is used in many FDA-approved medications, according to a release from the companies.

Vireo Health is the parent of Vireo Health of New York, based in Perth, and Minnesota Medical Solutions.

Vireo's goal is to incorporate Captisol into marijuana-based medicines to create new, patent-protected, FDA-approved forms for the drugs, so they could potentially be taken by mouth, sprayed through the nose, put on the skin or nebulized.

News Moderator: Jacob Redmond 420 MAGAZINE ®
Full Article: Parent Of N.Y. Medical Marijuana Company Seeks To Make FDA-Approved Drugs
Author: Claire Hughes
Contact: Contact Page
Photo Credit: John Carl D'Annibale
Website: The Times Union

 

[420 Warrior]

Yea, we all want the FDA to approve Cannabis as medicine but the FDA will never approve any form of Cannabis as medicine as long as it's kept as schedule 1. Removing it from schedule 1 is not a new concept and not an exclusive idea to this particular company. IDK but maybe this company wants to monopolize something here? Maybe I'm wrong and I hope I am.