The Indiana State House Sign Bill to Allow Farmers to Grow Industrial Hemp | CashCropToday
0 Shares 190 Views

The Indiana State House Sign Bill to Allow Farmers to Grow Industrial Hemp

February 1, 2018
190 Views

The House of the State of Indian signed a bill that will allow farmers in the state to grow cannabis’s non-psychoactive cousin, the industrial hemp plant. Currently only the Purdue University has the proper license to grow hemp via a pilot program, that was permitted to grow hemp for research purposes because of the 2014 Farm Bill. House Bill 137 will allow farmers across the state to grow industrial hemp for commercial purposes. Now the fate of the bill is in the state Senates hands.

It was only last year that the Indiana’s House and Senate both voted in favor of the legalization of Cannabidiol (CBD), which can be extracted from the hemp plant, for patients with epilepsy. In December 2017, the World Health Organization released a research report on CBD. The organization found the chemical compound, “shows that its use could have some therapeutic value for seizures due to epilepsy and related conditions. Current evidence also shows that Cannabidiol is not likely to be abused or create dependence.”

Also, just recently, GW Pharmaceuticals (NASDAQ: GWPH) announced that the company’s New Drugs Application had been accepted by the FDA for priority review. “Epidiolex® (cannabidiol or CBD), an investigational treatment for seizures associated with Lennox-Gastaut syndrome (LGS) and Dravet syndrome, two rare and difficult to treat conditions of childhood-onset epilepsy.”

Link to Press Release

One thing is for certain, the industrial hemp and CBD is growing exponentially and is expected to be grow to a multi- billion-dollar market by 2021.

Sources:

https://www.gwpharm.com/about-us/news/gw-pharmaceuticals-announces-acceptance-nda-filing-epidiolex®-cannabidiol-treatment

https://www.indystar.com/story/news/politics/2018/01/31/indiana-house-votes-allow-farmers-grow-cannabis-plants-low-thc/1076470001/

http://www.who.int/medicines/access/controlled-substances/5.2_CBD.pdf

You may be interested

Green Growth Brands Debuts on CSE Under Symbol “GGB”
CCT Voice
9 views
CCT Voice
9 views

Green Growth Brands Debuts on CSE Under Symbol “GGB”

Editor - November 13, 2018

Green Growth Brands has announced this morning that their company has debuted on the Canadian Securities Exchange (CSE) under the ticker symbol “GGB.” The company is financially…

Green Thumbs Industries to Acquire Integral Associates Assets for $290M
Manufacturing
8 views
Manufacturing
8 views

Green Thumbs Industries to Acquire Integral Associates Assets for $290M

Editor - November 13, 2018

Green Thumbs Industries (CSE: GTII) (OTCQX: GTBIF) has announced this morning that the company has signed an agreement to acquire Integral Associates. The company’s assets are being…

MariMed Enters Strategic Partnership with Hemp CBD Producer GenCanna
Market Watch
36 views
Market Watch
36 views

MariMed Enters Strategic Partnership with Hemp CBD Producer GenCanna

Editor - November 12, 2018

MariMed Inc. (OTCQB: MRMD) has announced this morning that the company has created a strategic partnership with GenCannaGlobal Inc. Under the terms of the agreement the two companies…

Leave a Comment

Your email address will not be published.

Most from this category

%d bloggers like this: