NEW YORK, NY--(Marketwired - Jan 21, 2014) - Nuvilex, Inc. (OTCQB: NVLX) executives had to perk up when they heard the news coming from The New Yorker magazine's interview with President Obama released this past Sunday. The president spoke in terms that seem to suggest he's in favor of relaxing the country's marijuana laws. Obama said, "As has been well documented, I smoked pot as a kid, and I view it as a bad habit and a vice, not very different from the cigarettes that I smoked as a young person up through a big chunk of my adult life. I don't think it is more dangerous than alcohol."
Well as we all know, alcohol is legal to drink, and the president stated he doesn't think marijuana is any more dangerous than alcohol, so one could conclude with rules, he might favor legalizing marijuana especially for medicinal purposes. Nuvilex, a Silver Spring, Maryland, biotech firm that entered the medical marijuana arena in early 2013 with its subsidiary, Medical Marijuana Sciences, Inc., expects to eventually become a leader in the space when the company begins its work to develop treatments for hard to treat cancers using marijuana.
President Obama's relaxed language coming to fruition on a national scale, would be a great advantage to a company like Nuvilex that will eventually have to make decisions on where and when to begin research that will likely be based on the legalization of marijuana and the rules surrounding that legalization.
Obama even seemed to be more supportive of the drug's recreational use in states like Colorado and Washington as well, but for reasons of fairness. He said, "It's important for it to go forward because it's important for society not to have a situation in which a large portion of people have at one time or another broken the law and only a select few get punished."
This shift in language suggesting acceptance by Obama, lines up with his Attorney General's office in 2013 relaxing federal prosecution of marijuana offenses and not challenging new state laws on marijuana.
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