Japan’s Parliament passed a bill Wednesday legalizing medical products derived from cannabis. The news comes some three weeks after the measure was first approved in the Lower House.
The approved legislation also closes loopholes in the current ban against cannabis by criminalizing use, reports Kyodo News.
Up until now, Japan has not penalized marijuana use, aiming to protect hemp farmers, who may accidentally absorb it while cultivating commercial hemp, which has been strictly regulated. Lawmakers have now decided to tighten the law around cannabis use, due to the concerns that the lack of stricter laws is promoting substance abuse among youth.
With the new law, cannabis possession and cultivation remain banned in Japan. Consumption is now punishable with a prison sentence of up to seven years.
Previously, substances containing compounds derived from marijuana plants have been only allowed in clinical trials, but patient groups have been pushing for change. They have been seeking for approval of cannabis-derived CBD medicines, such as Epidiolex, which is approved in the United States and Europe for conditions such as severe forms of epilepsy.
The CBD medicine became a part part of Jazz Pharmaceuticals’ JAZZ portfolio, following the acquisition of GW Pharmaceuticals plc. in 2021.
The revised law is expected to be enacted within a year from promulgation, while changes to cannabis cultivation licenses are expected in two years.
The bill designates cannabis as a banned substance under the Narcotics and Psychotropics Control Law.
Photo: Benzinga edit with images by David Edelstein on Unsplash and nneem on Pixabay
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Cannabis is evolving – don’t get left behind!
Curious about what’s next for the industry and how to leverage California’s unique market?
Join top executives, policymakers, and investors at the Benzinga Cannabis Market Spotlight in Anaheim, CA, at the House of Blues on November 12. Dive deep into the latest strategies, investment trends, and brand insights that are shaping the future of cannabis!
Get your tickets now to secure your spot and avoid last-minute price hikes.