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Pot sales exceed $1 million on first day
#1
DENVER - Pot shops did record sales compared to the "medical marijuana days" on Wednesday when recreational marijuana opened. Pot shop owners across Colorado believe they collectively made more than $1 million statewide.

LEARN MORE ABOUT LEGALIZED MARIJUANA IN COLORADO

Supporters, critics and other states are waiting to see what will happen in Colorado on day two and beyond. In Perth, Australia, headlines say "Move Over Amsterdam."

Long lines and blustery winter weather greeted Colorado marijuana shoppers testing the nation's first legal recreational pot shops Wednesday.

It was hard to tell from talking to the shoppers, however, that they had waited hours in snow and frigid wind.

"It's a huge deal for me," said Andre Barr, a 34-year-old deliveryman who drove from Niles, Mich., to be part of the legal weed experiment. "This wait is nothing."

The world was watching as Colorado unveiled the modern world's first fully legal marijuana industry - no doctor's note required (as in 18 states and Washington, D.C.) and no unregulated production of the drug (as in the Netherlands). Uruguay has fully legalized pot but hasn't yet set up its system.

Colorado had 24 shops open Wednesday, most of them in Denver, and aside from long lines and sporadic reports of shoppers cited for smoking pot in public, there were few problems.

"Everything's gone pretty smoothly," said Barbara Brohl, Colorado's top marijuana regulator as head of the Department of Revenue.

It may seem like everyone was excited for the legalization, but there were vociferous critics too. It's a good reminder that 35 percent of Colorado voted against Amendment 64.

Colorado residents must be 21 or older to buy marijuana in Colorado. But just like alcohol, there's a good chance people underage might find a way to get their hands on the drug.

State regulators were out on Wednesday, making sure no one under 21 was able to buy marijuana. The pot shop 9NEWS went to on Wednesday was very diligent about checking everyone's ID.

9NEWS spoke with one doctor from Denver Health who treats kids with substance abuse issues. He says addiction numbers have gone up since Colorado approved medical marijuana. While there are no long-term studies on the effects of pot on adults, there has been research done on kids.

The doctor 9NEWS spoke with says marijuana can do some real damage to young people who are still growing.

Marijuana skeptics, of course, watched in alarm. They warned that the celebratory vibe in Colorado masked dangerous consequences. Wider marijuana availability, they say, would lead to greater illegal use by youth, and possibly more traffic accidents and addiction problems.

"It's not just a benign recreational drug that we don't have to worry about," said Dr. Paula Riggs, head of the Division of Substance Dependence at the University of Colorado-Denver medical campus.

Colorado has hundreds of pending applications for recreational pot retailers, growers and processors. So it's too soon to say how prices would change more people enter the business, increasing supply and competition.

http://www.9news.com/news/article/371498...-first-day
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#2
New York to legalize medical use of marijuana

Days after the world’s first legal recreational cannabis dispensaries were opened in Colorado, the New York Governor Andrew Cuomo is to announce the legalisation of medical marijuana for those with  serious illnesses in his state.

New York will join 20 other US states and Washington DC in permitting the sale, possession and use of marijuana for medical purposes. Washington state has also legalised recreational marijuana.

According to The New York Times, Governor Cuomo will unveil the plans in his annual State of the State address on Wednesday. Several bills to legalise the drug have made it through the New York state assembly only to be stalled in the Republican-controlled state senate.

Governor Cuomo intends to overrule the senate with an executive order, allowing 20 New York hospitals to prescribe cannabis to patients suffering from serious  conditions.

Governor Cuomo’s change of heart reflects a growing shift in public opinion on the issue of marijuana  legalisation.

Recent polls suggest about half of the US population now supports an end to its  prohibition.

http://www.independent.co.uk/news/world/...39806.html
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#3
As cannabis is widely legalized, China cashes in on an unprecedented boom

Almost 5,000 years ago, Chinese physicians recommended a tea made from cannabis leaves to treat a wide variety of conditions including gout and malaria. Today, as the global market for marijuana experiences an unprecedented boom after being widely legalised, it is China that again appears to have set its eyes on dominating trade in the drug.

The communist country is well placed to exploit the burgeoning cannabis trade with more than half of the patents relating to or involving cannabis originating in China. According to the World Intellectual Property Organisation (Wipo), Chinese firms have filed 309 of the 606 patents relating to the drug.

About 147 million people – around 2.5 per cent of the world's population – use cannabis, according to the World Health Organisation. And medicinal properties of the drug are increasingly being recognised. It can be used to treat conditions ranging from the nausea caused by chemotherapy for cancer patients and chronic pain to cerebral palsy, multiple sclerosis and epilepsy.

Last month, Uruguay became the first country to legalise marijuana in its entirety – from growing the crop to processing and use. Yesterday it appeared that a second South American country, Peru, could follow Uruguay's example and legalise cannabis production. The former director of the Peruvian National Drug Control Commission, Ricardo Soberon, said: "The possibility of removing the criminal element from the cannabis trade – a drug that is a lot less dangerous than others – is the answer to 50 years of repeating the same strategies with no results."

Last week, the US state of Colorado decriminalised the recreational use of cannabis and people in Washington state have also voted to legalise marijuana, although stores are not expected to open until later in the year. Shares in companies involved in cannabis soared after Colorado's move. One firm, MediSwipe Inc, had its stock jump by nearly 70 per cent on 2 January. The legal trade of cannabis in the US alone could be worth $10bn (£6bn) by 2018. And analysts say it is China that is once again at the forefront of exploiting new economic opportunities.

"Because cannabis in Western medicine is becoming accepted, the predominance of Chinese patents suggests that pharmaceutical sciences are evolving quickly in China, outpacing Western capabilities," Dr Luc Duchesne, an Ottawa-based businessman and biochemist, wrote in InvestorIntel. "CTM [Chinese traditional medicine] is poised to take advantage of a growing trend. The writing is on the wall: Westernised Chinese traditional medicine is coming to a dispensary near you."

Many of the Chinese patents are for herbal treatments. One, filed by the Yunan Industrial Cannabis Sativa Co, refers to an application made from whole cannabis sativa seeds to make "functional food" designed to improve the human immune system. Another, by an inventor called Zhang Hongqi, is for a "Chinese medicinal preparation" for treating peptic ulcers. It uses an array of ingredients, including cannabis sativa seed. The filing says it has "significant therapeutic effectiveness and does not cause any adverse effect".

There is also a patent filing from China for a treatment for constipation, which is made using fructus cannabis and other ingredients such as "immature bitter orange", Chinese angelica and balloon flower. This, it is claimed, treats constipation's root causes and symptoms resulting in "obvious curative effects".

However, only one company in the world has developed cannabis-based drugs as medicines that have been recognised by regulators in the West following the long, costly process of clinical trials. GW Pharmaceuticals, based in Wiltshire, makes Sativex for the treatment of symptoms of multiple sclerosis and cancer pain, and Epidiolex for childhood epilepsy.

A spokesman for the company, which is the only one licensed to carry out research on cannabis in the UK, said China had a long history of working with herbal medicines. "In that sense it doesn't come as a surprise. This is a country with thousands of years of working with plants in medicines," he said of the patent filings.

In December, Jamaica announced it was forming its first medical marijuana company, called MediCanja. Henry Lowe, a scientist and executive chairman of MediCanja, said medical cannabis could help "transform Jamaica's fledgling economy". He added: "Given Jamaica's history with ganja, we could be the hub for medical ganja in Latin America and the Caribbean."

Peter Reynolds, leader of Cannabis Law Reform (Clear), a UK-based campaign group, said China had another advantage over other countries in selling cannabis as it is one of the largest producers in the world of industrial hemp, a form of cannabis with a low amount of the psychoactive compound THC. "The Chinese are smarter and they are on to all the good ideas," Mr Reynolds said. "The potential for cannabis as a medicine is monumental."

But smoking cannabis remains illegal in China. In April last year, the South China Morning Post reported that it was a popular drug among the country's young people despite the threat of lengthy prison sentences.

Mr Reynolds said the UK possessed world-leading expertise on cannabinoids, and there was a "terrible, terrible irony" that the Government was so hostile to its use. "We're in a situation now where cannabis is available on prescription [in the UK], but it's almost impossible to get because it costs so much more," he said.

The opening up of a legal trade in non-medical marijuana is not without its critics. Uruguay's decision to remove all legal restrictions on use was condemned by the International Narcotics Control Board, the body charged with monitoring international treaties on narcotics. "Cannabis is not only addictive but may also affect some fundamental brain functions, IQ potential and academic and job performance, and impair driving skills," it said in a statement. "Smoking cannabis is more carcinogenic than smoking tobacco."

http://www.independent.co.uk/news/world/...39191.html
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