Purdue Pharma Pleads Guilty to Criminal Charges Over Oxycontin, House to Vote on Legal Pot This Week, More... (12/1/20)

It's now legal to possess and grow your own marijuana in Arizona, the House Rules Committee takes up the MORE Act on Wednesday, Purdue Pharma pleads guilty to three federal criminal charges, and more.

House Rules Committee Takes Up Marijuana Legalization Bill Tomorrow Ahead of Looming Floor Vote. The House Rules Committee takes up the MORE Act (HR 3884) tomorrow, paving the way for a House floor vote on the bill later this week. House Judiciary Committee Chairman Jerrold Nadler (D-NY) sent the bill to the Rules Committee with some modifications, the most significant of which revolve around taxation. The bill originally imposed a 5% tax on marijuana products, but Nadler has amended the bill to remove that language and replace it with a scheme that would allow increases in the tax rate until it reaches 8%.

Arizona Marijuana Legalization Now in Effect. Marijuana is now legal in the state. It became so after the state secretary of state certified the election results, affirming that Prop 207 indeed passed. It is now legal to possess up to an ounce of marijuana and up to five grams of concentrates and to grow up to six plants for personal use. The legal, regulated marijuana market won't be in effect until sometime next year.

Virginia Legislative Working Group Issues Report Outlining Path to Legalization. A working group on marijuana legalization requested by the legislature issued its report Monday and concluded that the end of pot prohibition "cannot be created quickly." First, the state needs to invest in data collection, craft new regulations, and undertake a public education campaign, the report said. That pushes legalization down the road: "Setting up an adequate regulatory structure will require a significant up-front investment, in time, patience, and budgetary resources," the report reads. The report sets an 18-24-month timeline for legalization and up to five years before there is a fully developed legal marijuana industry.

Heroin and Prescription Opioids

Purdue Pharma Pleads Guilty to Federal Criminal Charges Over Oxycontin Role in Opioid Crisis. OxyContin maker Purdue Pharma pleaded guilty Tuesday to one count of conspiracy to defraud the United States and violate the Food, Drug, and Cosmetic Act, as well as two counts of conspiracy to violate the Federal Anti-Kickback Statute. The move came after a plea deal agreed to in October that also includes a historic $3.544 billion fine and a $2 billion criminal forfeiture. The company will now be dissolved and its assets used to incorporate a "public benefit company" designed to serve the public, not the company's bottom line.