The Drug Enforcement Administration has approved Syndros, a cannabis-based medication developed by pharmaceutical company Insys Therapeutics, for Schedule II status under the Controlled Substances Act, according to a Chicago Tribune report.

Syndros is an oral remedy that uses THC to treat nausea and vomiting, two of the most common symptoms caused by chemotherapy. The drug was pre-approved by the FDA last summer as a treatment for nausea, vomiting, and weightloss in cancer and AIDS patients.

If that name Insys sounds familiar, it’s probably because this is the pharma group that donated $500,000 last September to help defeat Arizona’s cannabis legalization campaign; and now the company has received DEA approval for its own cannabis-based drug. During the campaign, the company said it opposed the legalization measure because, “it [would fail] to protect the safety of Arizona’s citizens, and particularly its children.” Now, non-medical cannabis users in Arizona must still face felony charges for possessing even small amounts of the plant.

However, if safety were truly Insys’ biggest concern, they might rethink their aggressive marketing strategies for Subsys — a medication containing fentanyl, a dangerously powerful and addictive opiate that can be 50-100 times more powerful than Morphine.

“It appears they are trying to kill a non-pharmaceutical market for marijuana in order to line their own pockets,” a spokesperson for Arizona’s legalization campaign said last year.

It’s clear that in a world where anyone and everyone would be allowed to cultivate their own medicine, giant pharma companies such as Insys would inevitably lose revenue. However, according to Kevin Gallagher of Craft Concentrates and the Cannabis Business Alliance, Big Pharma interests may ultimately be surprised by the zeal and persistence of cannabis patients and advocates.

“This is a completely unique substance that is so readily available, and it’s so easy to take advantage of its healing nature, … it’ll be very interesting to see how that plays out,” Gallagher said in an interview with Westword.

“These pharmaceutical companies still think they’re going to win the battle in creating essentially fake cannabis and having to even compete with the real cannabis industry, but they’re not looking at the effects of certain terpenes or certain cannabinoids,” Gallagher said.

More and more Americans succumb to prescription opiate overdoses each year, while there remain zero recorded deaths contributed to the over-consumption of cannabis.

Do you own a cannabis industry business? Create a listing in our directory and get discovered by new clients - Click Here
.

Tags: , | Categories: Medical Marijuana News

Learn about cannabis businesses:

View the directory | Get featured here

  • eBottles 420

    The ultimate online resource for packaging supplies: we offer multiple options for every item you would possibly need, from vape cartridges to concentrate jars to child-resistant bottles.

  • HempStaff

    HempStaff is an industry leader in Marijuana Industry Recruiting and Dispensary Training. We strive to find the perfect match for Employers and Employees in the Cannabis Industry. From Dispensary Managers and Master Growers to Cannabis Chefs and Trimmers, we find the right match for both our clients and candidates. We are currently working with marijuana business owners across America to help them locate qualified employees as well as providing Dispensary Training for the entry level employee in states with new markets.

  • Portable Smoke

    Portable Smoke is your online destination for purchasing portable discreet items for your smoking needs. We recognize that smoking may be a discreet and a recreational activity to participate in alone or with trusted friends. As a result, we specialize in selling grinders and bowls that you can hide right under everyone’s nose.

  • PayQwick, Inc.

    PayQwick’s mission is to bring well-established, proven payment processing, regulatory compliance and banking services to the licensed recreational and medical marijuana industries, thereby reducing the risk of violent crime, illegal money laundering and violation of state marijuana regulations. PayQwick serves state licensed Producers, Processors, Wholesalers, Distributors, Dispensaries and Retailers.

  • Denali Accountants

    We offer a complete bookkeeping and accountancy service to self-employed individuals and small businesses. We have been providing these services for 30 years and have built up a strong client base of small businesses. We understand your needs and deliver a personal service catering to the specific needs of your business. We are diamond QuickBooks Pro advisors!

  • Hay & Associates

    We are a full-service Accounting firm licensed in CA. We offer a broad range of services for business owners, executives, and independent professionals. We are affordable, experienced, and friendly.

  • Distru

    Software built to streamline distribution and manufacturing. Distru provides inventory, order, and customer management for cannabis companies in a centralized platform.

  • CORE Security Solutions

    CORE Security Solutions, Inc. provides security services to a wide array of clients, including the rapidly growing cannabis industry. We are fully licensed and insured by the California Bureau of Security and Investigative Services (BSIS). We currently provide security services to several local cannabis dispensaries in the Bay Area and secure transport and delivery services for cannabis products and proceeds throughout California. Our security specialists are all licensed and our transport vehicles are equipped with secure storage and GPS tracking.

  • CannaSafe Solutions

    CannaSafe Solutions is the one-stop-shop for all the safety needs of your cannabis growhouse, dispensary, lab, or edibles manufacturing facility. We provide all of the safety equipment and apparel you need to protect your employees, your plants, and your business.

  • Releaf App

    Releaf App is a patent pending mobile app that enables patients to track their live sessions with cannabis and record exactly how it’s helping them. It then provides intelligent reporting to help patients learn what types of cannabis and intake methods are working best in treating their symptoms. Patients can share these reports with doctors and/or budtenders to discuss their treatment and identify their best options.

  • New Approach Bookkeeping LLC

    New Approach Bookkeeping provides cannabis companies with their day-to-day, monthly, quarterly, and yearly financials. Our services include full cycle bookkeeping, HR business consulting, cash management, and payroll services for the cannabis industry. We have over 3 years experience and understand the 280e publication and how it affects all entities of the cannabis industry.

  • Ravenna Interactive

    Ravenna offers branding, websites, SEO and social marketing services designed to help grow your canna-business. With a foundation in strong communication and integrity we help our clients achieve their growth and digital marketing goals.

Want a job in the cannabis industry?

Sign up to apply for unlimited jobs and get discovered by companies who are hiring

Post Your Resume View all jobs

Recent Job Postings

Subscribe for daily cannabis news, announcements, and business insights.

Stay informed about the latest cannabis industry news, policy progress, and business developments.