NEW YORK, NY--(Marketwired - January 07, 2014) - This week executives at Nuvilex, Inc. (OTCQB: NVLX) expect New York state to join 20 other states and the District of Columbia in allowing the use of marijuana for medical purposes. In 2013, Nuvilex formed its wholly-owned subsidiary, Medical Marijuana Sciences, Inc., and since then has watched the nation become more and more accepting of legalizing marijuana for medicinal purposes and in some states even for recreational use. This week, New York State’s Governor, Andrew Cuomo, is expected to address the issue when he delivers his State of the State address.
Governor Cuomo is reportedly ready to change his long held opinion opposing medical marijuana when he announces his support for it in his State of the State address. The polls in the state show that 82 percent of New Yorkers approve of medical marijuana, and in an election year, those polls could be the impetus behind the reversal.
Governor Cuomo’s plan is expected to be more restrictive than other states however in that it permits medical marijuana use for minor ailments and allows only 20 hospitals across the state to prescribe marijuana to patients with cancer, glaucoma or other diseases that meet standards to be set by the New York State Department of Health.
Dr. Gerald Crabtree, COO at Nuvilex and its subsidiary, Medical Marijuana Sciences, stated, “Although the expected approval of the use of marijuana for medicinal purposes in New York State is somewhat more restrictive than those in other states, it should nonetheless give further support to those who believe in marijuana’s effectiveness in treating various diseases -- a belief that appears to be supported by many reports in the scientific literature. This expected approval also gives Nuvilex, through its subsidiary Medical Marijuana Sciences, Inc., further belief that the Company’s pursuit of treatments for two of the deadliest forms of cancer, namely cancers of the brain and pancreas, which will use constituents of marijuana, will be encouraged by those in the ever-increasing number of states that approve the use of medical marijuana.”
Entering an election year, the cannabis industry expects to see the rhetoric heat up once again in favor of allowing the use of marijuana in both medical research and for patients to legally use it for medicinal purposes. For companies like Nuvilex moving towards medical research using the drug, this represents one more hurdle cleared and one step closer to capturing half the nation being in approval.
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