The value of GW Pharmaceuticals PLC (NASDAQ: GWPH) reached a record high in stock value after the DEA changed its stance on Federal Drug Administration (FDA) approved drugs that contain the non-psychoactive chemical in cannabis, cannabidiol (CBD).
The DEA announced on Thursday, September 27th, it now places CBD containing drugs that have the approval of the FDA into Schedule V, which is the category the DEA views drugs as the least likely for abusive usage. The types of drugs within Schedule V are drugs that treat common ailments like coughs or allergies.
The new scheduling does not affect the scheduling of cannabis and it remains within Schedule 1 along with heroin and LSD.