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Head Of Nation’s Only Federally Legal Marijuana Farm Develops THC Eye Drops

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The head of the nation’s only federally approved marijuana farm has revealed that he is developing cannabis eye drops to treat glaucoma.

In a podcast interview, pharmacologist Mahmoud ElSohly, director of the University of Mississippi’s Marijuana Research Project, discussed the history of how an eye doctor discovered that cannabis can relieve the interocular pressure associated with glaucoma. But while the THC in the plant treated the symptoms, it also means patients experience the high.

“The best way to treat glaucoma is not to take a drug that will affect your brain, affect your ability to function, the whole rest of your body just to lower the pressure inside the eyes,” ElSohly argued. “The way to do this is to develop, let’s say, eye drops, eye drops from marijuana.”

Both his lab and a separate, unnamed company that licensed the idea are looking into the eye drop possibility, with the company having already begun clinical trials, ElSohly said. It’s a notable advancement because THC is lipophilic, acting like an oil, and so “it doesn’t penetrate into the inner compartments of the eye to lower the pressure.”

“Therefore, only if you take systemically—meaning if you inhale it or swallow it or something—but then you deal with all the side effects of THC,” he said in the interview, which was recorded in February and published this month. “Now we’re developing a pharmaceutical product, and it’s been licensed by the way now, that we take the THC molecule and we modify it in a certain way to allow it to go inside the eye, and once inside, it breaks off and releases THC just in the eye to lower the pressure.”

“You don’t feel any psychological activity, it doesn’t even get into your blood. It’s all localized in the eye,” he said. “We have this product now that is being licensed and being developed as an eye drop.”

Listen to the conversation about the THC eye drops, which begins around 15:40, below: 

“That’s the way to develop pharmaceuticals based on cannabis but not cannabis, based on marijuana but not marijuana,” he added during the appearance on the podcast of anti-legalization organization National Families In Action, for which ElSohly serves as a scientific advisory board member. “That’s the way to do it and develop the medicine.”

The targeted treatment of glaucoma using the novel delivery method that ElSohly described is noteworthy, but it also underscores the potential for the development of other valuable treatment options derived from marijuana that’s being inhibited under prohibition. One barrier that researchers and lawmakers alike have identified is the substandard quality of cannabis produced at ElSohly’s farm.

Currently, the University of Mississippi is the only federally approved source of research-grade marijuana, but scientists have complained about the cannabis supply, which one study found is genetically closer to hemp than products available in state-legal markets. That raises questions about the validity of studies that rely on the government’s marijuana.

The Drug Enforcement Administration said in September that it is taking steps to approve additional marijuana farms beyond ElSohly’s Mississippi operation, three years after the agency initially invited applications for such facilities.

In an earlier podcast segment released in September, ElSohly made a series of remarks that some viewed as reflective of a fundamental misunderstanding of marijuana issues.

The director characterized cannabis containing eight percent THC as “extremely high potency” and expressed confusion as to why individuals would seek out varieties in the commercial market that contain “20 percent or 15 or 18 or any of those high amounts.”

But ElSohly was thinking about marijuana consumption in the context of standardized clinical trials, where individuals would have to consume an entire joint in one sitting in order to compare the effects of a controlled dose with other subjects. Others have pointed out that consumers might prefer higher concentration products because they can achieve the desired effect without having to smoke as much.

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Marijuana Legalization Increases Home Property Values, New Study Finds

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There are plenty of marijuana NIMBYs out there, but a new study found that cannabis legalization and the presence of dispensaries actually increases home property values.

The research from Clever Real Estate draws on data from Zillow, the U.S. Census and other sources. A main takeaway is that from 2017 to 2019, “home values increased $6,338 more in states where marijuana is legal in some form, compared to states that haven’t legalized marijuana.”

Part of the reason for the increased value is that legalizing and regulating cannabis means tax revenue for states. And that revenue translates into “new investment in things such as public services and infrastructure,” the company found, driving up property value.

For every $1 million in additional tax revenue from marijuana sales, home values increase by $470, according to the study.

Take Illinois as a case in point. Last year, the state sold about $670 million in cannabis and took in $205.4 million in tax revenue. And that revenue has gone towards a wide range of causes such as supporting organizations that work to decrease street violence. If successful, reducing violence in a given community would be one simple way to increase property value.

The Clever Real Estate study also found that states that legalize for adult use see the greatest gains in home value.

“Between April 2017 and April 2021, property values rose $17,113 more in states where recreational marijuana is legal, compared to states where marijuana is illegal or limited to medicinal use,” it said. And for the states that have enacted legalization but where sales have yet to start, “home values are predicted to increase by an average of $61,343.”

The presence of cannabis dispensaries nearby also seems to be correlated with an increase in home value.

“Home values increased $22,090 more in cities with recreational dispensaries, compared to home values in cities where recreational marijuana is legal but dispensaries are not available,” the study says. “With each new dispensary a city adds, property values increase by $519.”

“When we controlled for other factors, we found that home values in areas that have legalized recreational marijuana leapt by $17,113 more than places where marijuana is illegal or only allowed for medicinal use. Even when we limited the comparison to recreational versus medicinal legalization, this disparity persisted. Places that legalize recreational marijuana saw home values increase by $15,129 more than those that only legalized medicinal use.”

Last year, a separate analysis from economists at the University of Oklahoma similarly found that states that legalize marijuana actually see a boost in housing prices, with the effect most pronounced once nearby retail outlets open for business.

“This demonstrates that [it is] not simply the benefits of increased tax revenue, but also the existence of the dispensaries themselves, that is driving the price increases,” the researchers found. “The dispensaries act as commercial amenities that the public puts a premium on being nearby.”

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Missouri Governor Vetoes Medical Marijuana Tax Deduction Bill

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The measure, if enacted, would not have changed the federal 280E provision that remains in effect against cannabis businesses.

By Jason Hancock, Missouri Independent

Missouri Gov. Mike Parson (R) vetoed legislation Friday that would have lifted a prohibition on licensed medical marijuana companies deducting business expenses on their taxes.

In his letter vetoing the measure, Parson didn’t mention the medical marijuana provisions. He said his decision to reject the bill came down to a section lawmakers included that would have provided tax relief for businesses impacted by city-wide or county-wide public health restrictions.

Parson said those provisions would have created “significant unintended consequences that could greatly harm localities.”

In vetoing the bill, however, the medical marijuana provision was also struck down.

Missourians voted to legalize medical marijuana in 2018. But under federal law, growing, transporting or selling marijuana remains a crime.

Because of this dynamic, marijuana companies differ from every other legal business in the state because they can’t deduct ordinary and necessary business expenses on their tax returns.

While federal law remains unchanged, the legislation approved nearly unanimously in both the House and Senate would have changed that for state taxes.

David Smith, a certified public accountant from St. Louis County who works with numerous medical marijuana companies, said during a Senate hearing earlier this year that Missouri’s existing law could mean an effective tax rate for those businesses of 70 percent or higher.

“Some companies may even be subject to income taxes while operating at a loss,” Smith said.

Andrew Mullins, executive director of MoCannTrade, said it was “both common sense and smart public policy to put medical cannabis businesses on a level playing field with all others that pay state business taxes.”

“While disappointed in the veto, we remain encouraged by the overwhelming bipartisan support for a measure of basic tax fairness that received near-unanimous votes in both the state House and Senate,” Mullins said in a statement to The Independent. “As our state’s newest industry continues to create thousands of new jobs and generate tens of millions in new spending each month, we look forward to again passing this policy change and seeing it signed into law.”

Another casualty of the veto was a provision providing sales tax exemptions for certain cancer treatment devices. Parson wrote in his veto letter that he supports this tax deduction and hopes lawmakers will pass it again next year.

This story was first published by Missouri Independent.

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First Full-Service Marijuana Delivery App Launches On Apple Store Following Policy Change

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Apple has long restricted marijuana companies from conducting business on its app store. But following a recent policy change, the cannabis delivery service Eaze on Thursday announced that consumers can now shop and pay for marijuana products on its iPhone app for the first time.

This marks a “major milestone for the legal cannabis market and consumers,” Eaze said in a press release. “The Eaze app allows customers to complete all aspects of delivery seamlessly: registration, ID verification, product selection, payment, and receipt to the doorstep.”

Via Eaze.

Previously, people buying marijuana through the nation’s largest cannabis delivery service had to leave the prior version of the app and submit orders through a less-convenient mobile version of the company’s web page. The Apple policy change means the service is streamlined, and it represents a significant development in the evolving relationship between Big Tech and the marijuana industry.

“Eaze has always been about using the latest developments in technology to make shopping for legal cannabis more accessible,” CEO Rogelio Choy said. “It’s hard to overstate how important this is to our company and the industry. It’s deeply gratifying to launch the Apple Store’s first fully-functional cannabis delivery app, making it even easier for our two million registered customers to legally consume.”

Via Apple/Eaze.

In contrast to Apple, Google’s Android app hub updated its policy in 2019 to explicitly prohibit programs that connect users with cannabis, no matter whether it is legal in the jurisdiction where the user lives.

“We don’t allow apps that facilitate the sale of marijuana or marijuana products, regardless of legality,” it says, adding that some examples of violations would be “allowing users to order marijuana through an in-app shopping cart feature” or “assisting users in arranging delivery or pick up of marijuana.”

It also says that “facilitating the sale of products containing THC (Tetrahydrocannabinol), including products such as CBD oils containing THC” is against its policies.

Eaze Distinguished Engineer CJ Silverio said that the “flexibility and depth of our technical team allowed us to respond immediately to the changes in Apple’s policy, and create an app that offers our customers the ideal experience for cannabis delivery.”

Chris Vaughn, CEO of the California delivery service Emjay, previously told WeedWeek that he believes Apple’s decision was informed by the continuing legalization movement in states like New York, as well as Amazon’s recent announcement that it will no longer be drug testing workers for cannabis in addition to lobbying for a federal legalization bill. He added that he thinks Google will “follow quickly” to update its own policies.

The tech industry has had a strained relationship with the marijuana industry, even as a growing number of states have decided to legalize and regulate the sale of cannabis.

Facebook, which in 2019 showed off its artificial intelligence technology that’s capable of identifying images of marijuana, continues to prohibit the commercial advertising of cannabis products, regardless of the legality of the business under state law.

Noncommercial cannabis news sites such as Marijuana Moment and state regulatory bodies like the Massachusetts Cannabis Control Commission have also been caught up in the anti-marijuana policy despite the fact that they do not promote or sell cannabis products. In some cases, it appears these organizations have been hidden from appearing in search results—a practice known as “shadowbanning.”

Despite marijuana firms being banned from Google’s app market, some of the company’s top officials seem pretty bullish about loosening cannabis laws. Google co-founder Sergey Brin joked about supplying employees with joints at a post-election meeting in 2016.

“I was asking if we could serve joints outside on the patio, but apparently these things take a little while to take effect,” Brin said, referring to the implementation of California’s cannabis legalization measure. “It was a huge, huge disappointment. I’ve been bemoaning that all week, I’ll be honest with you.”

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Photo courtesy of Martin Alonso.

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