Aphria (NASDAQ:APHA) and
Tilray (NASDAQ:TLRY). Benzinga spoke with Aphria CEO and chairman
Irwin D. Simon, who will maintain those two positions in the new company, and Tilray CEO
Brendan Kennedy, who will serve in the new corporation’s board of directors. The executives shared details on how the deal came to be, and their expectations for the future, which, they say, doesn’t include massive layoffs.
Cantor Fitzgerald’s analyst Pablo Zuanic praised the merger. The Canadian cannabis sector is in need of consolidation due to the oversupply problems and “historically low flower retail prices,” he explained.
Green Market Report CEO Debra Borchardt told Benzinga the Aphria/Tilray merger “was certainly a good deal for Tilray shareholders, while the Aphria shareholders will probably have to wait a bit before they see the benefits of this deal. The combined company will definitely be a powerhouse of revenue, there is no question about that.”
The Week In Cannabis: Tilray-Aphria Merge, Aurora Continues Layoffs, Financings, Earnings, M&A Benzinga 12/18/2020
Aphria (NASDAQ: APHA) and
Tilray (NASDAQ: TLRY). Benzinga spoke with Aphria CEO and chairman
Irwin D. Simon, who will maintain those two positions in the new company, and Tilray CEO
Brendan Kennedy, who will serve in the new corporation’s board of directors. The executives shared details on how the deal came to be, and their expectations for the future, which, they say, doesn’t include massive layoffs.
Cantor Fitzgerald’s analyst Pablo Zuanic praised the merger. The Canadian cannabis sector is in need of consolidation due to the oversupply problems and “historically low ï¬ower retail prices,” he explained.
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December 17, 2020
In the waning days of the Senate’s 2020 session, the legislative body has passed a bill making it easier for researchers to study the effects of marijuana use and its medical application. Late on Tuesday, the bill passed with bipartisan support, sponsored by Sens. Dianne Feinstein (D-Calif.), Brian Schatz (D-Hawaii), and Chuck Grassley (R-Iowa), Marijuana Moment reported. The bill’s passage comes less than a week after the House passed a similar measure.
The Senate’s proposed law, entitled the Cannabidiol and Marihuana Research Expansion Act, was introduced last year. If enacted, it will simplify the application process for researchers interested in studying cannabis, and will also encourage the Food and Drug Administration (FDA) to approve cannabis-derived medications, according to Sen. Grassley’s press release.
Whether the MORE Act passes the Senate remains uncertain, but some cannabis legislation is finding success.
On Tuesday night, the Senate passed the Cannabidiol and Marihuana Research Expansion Act. The move follows the House s passage of the bill last week.
The Significance Of The Bill
The bill would address several areas of research and development if enacted into law, according to Marijuana Moment. It also intends to revise the research application process for studies centered on cannabis.
Other critical parameters in the legislation would allow physicians to discuss marijuana risks and benefits with patients.
Additionally, the bill would also encourage the Food and Drug Administration (FDA) to develop medicines derived from cannabis while requiring the department of Health and Human Services (HHS) to file a report detailing the potential benefits of cannabis use.
NORML
Members of the Senate advanced legislation on Wednesday that seeks to expand the pool of federally licensed entities permitted to grow marijuana for clinical research purposes. For over five decades, federal regulators have only authorized a single licensee – the University of Mississippi – to cultivate cannabis plants for use in FDA-approved clinical studies.
The legislation, Senate Bill 2032: The Cannabidiol and Marihuana Research Expansion Act, tasks the US Attorney General with authorizing scientists to engage in marijuana-specific clinical research trials, and also provides the AG with the power to approve applications form multiple entities to “manufacture marijuana for research purposes.” Under the proposal, the AG’s office would need to act upon pending manufacturing applications within 60 days of receiving them.