Oklahoma Governor Signs Bill to Allow Clinical Trials on Cannabidiol

Yesterday, Oklahoma Governor Mary Fallin signed a bill that will allow state approved researchers to conduct clinical trials on the cannabis derivative known as cannabidiol (CBD). The bill will authorize studies on the effects of CBD on children who suffer from epilepsy.

Republican Governor Fallin is not a marijuana advocate. She has made it clear that she is against the legalization of medical and recreational marijuana. The bill establishes a partnership between the Oklahoma Bureau of Narcotics, the commissioner of health and the Oklahoma University Medical Center, which will oversee clinical trials.

“This bill will help get sick children potentially life-changing medicine,” Fallin said. “By crafting the legislation in a way that allows for tightly controlled medical studies, we can ensure we are researching possible treatments in a responsible and scientific way.”

Insurers do not cover the cost of treatments

In February, the Oklahoma State House of Representatives passed House Bill 2154. The bill was sponsored by Republican Representative Jon Echols and Republican Senator Brian Crain. The bill is known as “Katie and Cayman’s Law,” named after a young relative of Echols and a family-friend of Crain, both of whom suffer from seizures.

Minority Leader Scott Inman unsuccessfully tried to attach an amendment to the bill that would require health insurers to cover the treatments. This is something that insurers generally do not do because of the drug’s experimental status.

Without the amendment, Inman said, “only those wealthy enough to afford the treatments” will benefit from the bill.

Parents urge lawmakers to soften marijuana laws

Increased publicity about children who suffer from seizures benefitting from oil extracted from marijuana has set off a wave of legislation like never seen before. Parents of epileptic children across the United States are urging lawmakers to soften their states’ marijuana laws to allow CBD to be used to treat patients in need.

In mid-April, Idaho became the 13^th state to pass a limited marijuana program. Idaho Governor Butch Otter initially vetoed the bill, but then he said that he would issue an executive order requiring the state’s Department of Health and Welfare to study the effects of CBD oil on patients who suffer from epilepsy.

Currently, 36 states and the District of Columbia have passed some form of legal medical marijuana. Marijuana has medical benefits and it is only a matter of time before the federal government will reform its policies so as to be in line with the needs of a significant number of people.

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Michael Berger is Managing Partner of StoneBridge Partners, LLC and Founder of Technical420.com. Prior to entering the cannabis industry, Michael was an Equity Research Analyst at Raymond James Financial covering the Energy Sector. Michael has been featured in publications such as The Street, Bloomberg, US Money News, and hosts various cannabis events across North America.

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