London-based medicine company will soon launch a new medicine namely Epidiolex for the treatment of Rare Epilepsy disease. Around last April 2018, Food and Drug Administration, USA has approved the drug as Schedule 5 and declared it as an important drug for treating patients who are suffering from rare epilepsy disease. Epidiolex will be one medicine that contains Cannabidiol.
Cannabis is not fully legalized in the US medical industry. Despite being illegal in several states, medicines that contain cannabis or marijuana are available in many dispensaries and stores across the United States of America. GW Pharmaceutical, London, has recently received positive feedback from not only FDA Clinics but also FDA advisories are hopeful about the medicine as well. Patients have to consume Epidiolex orally as per the doctors’ prescription.
Cannabis is said to be a scheduled 1 drug. As Epidiolex contains Cannabidiol or CBD, it was also considered as Schedule 1 drug. However, the Drug Enforcement Administration has approved Epidiolex as Schedule 5 drug. Accordingly, Schedule 5 drugs have less abusive effect and high potential in medicine industry. The Food and Drug Administration has clearly announced that Epidiolex contains purified CBD that has low potential abuse and highly useful in medical industry.
As of now, the manufacturing company, GW Pharmaceuticals have not released the official pricing for the medicine. However, the officials have stated that patients may spend up to $60,000 annually if the patient does not have any medical insurance or the insurance does not cover this particular cost.
This will be one of the biggest investments in Cannabis Medicines in the USA. Investors, as well as the company, are hopeful about the positive feedback they have received from the US Food and Drug Administration. However, the testing process is still going on the basis of the efficiency of the drug. Once the dosage and the usage of Epidiolex will release, the medicine can be available in any medical store in the USA.
This is not the first time when a medicine that contains CBD or marijuana has approved as efficient medicine by FDA. However, as Federal Law has not approved cannabis as a legal component, medical marijuana payment processing is much more difficult than any other medicine payment process. As the States do not have a proper payment or banking facility for this industry, dispensaries are working through merchant accounts across the United States.
It is obvious that Epidiolex involves not only a huge investment but also consumers have to spend a massive amount to consume it for treatment. As there is the absence of point of banking for MMJ Dispensaries, merchants accounts by private sectors are a big help here. These merchant accounts have all the banking solutions such as debit card, credit card, swift payment process and so on. These facilities are much helpful for the MMJ dispensaries and medicine manufacturers, as it lowers down the risks involved in this industry.