The cannabis industry is on the brink of significant transformation, with the potential rescheduling of cannabis from Schedule I to Schedule III. Denise Pollicella, the head of Omnus Law’s cannabis practice, shared her expert insights with Benzinga on what this monumental shift could mean for businesses, regulations, and the broader industry.
Key Themes Discussed:
- FDA Oversight and Compliance:
Denise discussed the challenges of meeting pharmaceutical-grade standards, emphasizing that this transition will require stricter testing and production protocols, driving up costs in an already competitive market.
- Interstate Commerce:
Rescheduling could unlock interstate trade, revolutionizing supply chains. States like Michigan and Pennsylvania, with mature medical markets and stringent compliance standards, could lead this shift.
- Potential Consolidation:
Denise forecasts mergers and acquisitions as companies adapt to heightened regulatory demands, highlighting the importance of strategic growth and scalability.
Conclusion:
As the cannabis sector navigates these changes, Omnus Law remains committed to guiding businesses through complex regulatory landscapes. With decades of expertise, our team ensures that clients stay ahead in this evolving industry.
Read the full article on Benzinga here.