Federal update: DOJ partially rescheduled medical cannabis to Schedule III (April 28, 2026 final order). State-licensed medical operators may apply for expedited DEA registration through June 27, 2026; DEA hearing on full rescheduling set for June 29, 2026.

GW Pharmaceuticals

GW Pharmaceuticals plc, founded in the United Kingdom in 1998 by Geoffrey Guy and Brian Whittle, pioneered plant-derived cannabinoid pharmaceuticals. Its two principal products are Sativex (nabiximols), a 1:1 THC:CBD oromucosal spray approved in numerous countries for multiple sclerosis spasticity, and Epidiolex/Epidyolex (cannabidiol), approved by the U.S. FDA in June 2018 for Lennox-Gastaut and Dravet syndromes and later for tuberous sclerosis complex–associated seizures. Jazz Pharmaceuticals plc (Nasdaq: JAZZ) completed its acquisition of GW Pharmaceuticals on May 5, 2021, for approximately $7.2 billion in cash and stock. As of April 2026, Epidiolex remains commercially active under Jazz, exceeding $1 billion in 2025 net product sales (a 9% year-over-year increase), with patent protection extended into the late 2030s following ANDA settlements; Sativex contributed a much smaller revenue stream. Jazz continues to generate new Epidiolex clinical data, including the EpiCom trial. → See also: NASEM, Cochrane review.