Former Congressman Who Fought Marijuana Legalization Joins Cannabis Company Board
FeaturedMarijuana IndustryMarijuana Industry News October 11, 2019 MJ Shareholders 0
A former GOP congressman with a long track record of opposing marijuana legalization efforts is now cashing in on the legal cannabis industry.
FSD Pharma, a Canadian company that is a licensed producer of “pharmaceutical grade cannabis” through its subsidiary FV Pharma and researches cannabinoid-based therapies, announced on Friday that former Rep. Steve Buyer (R-IN) joined its board of directors. Missing from the press release is mention of his legislative history that includes repeated actions to oppose federal protections for state-level marijuana reforms.
From 1998 to 2000, Buyer cosponsored two resolutions and one bill aimed at condemning legalization and upholding federal prohibition. His opposition extended to limited medical cannabis reforms, too, voting five times from 2003 to 2007 against an amendment to protect state laws and the patients and providers complying with them from federal prosecution.
One of the anti-marijuana resolutions he signed onto passed the House but did not advance in the Senate. As introduced, it characterized cannabis as “both dangerous and addictive” and stated that “Congress is unequivocally opposed to legalizing marijuana for medicinal use, and urges the defeat of State initiatives that would seek to legalize marijuana for medicinal use.”
The version that passed, which Buyer voted for, expressed concerns that “ambiguous cultural messages about marijuana use are contributing to a growing acceptance of marijuana use among children and teenagers” and noting that federal authorities can enforce prohibition “through seizure and other civil action, as well as through criminal penalties.”
The separate bill he cosponsored sought to declare state laws that allow cannabis use as “null and void.”
“[I]t is the intent of the Congress to supersede any and all laws of the States and units of local government insofar as they may now or hereafter effectively permit or purport to authorize the use, growing, manufacture, distribution, or importation by an individual or group of marijuana or any controlled substance which differs from the provisions of the Controlled Substances Act and the Controlled Substances Import and Export Act or regulations issued pursuant thereto,” it read.
It’s not quite clear what changed for Buyer, but his appointment to the board of a major marijuana company that has benefitted from the successful reform movement he opposed is sure to raise questions.
In response to Marijuana Moment’s query about what accounted for the former congressman’s evolution on the issue, FSD Pharma President Zeeshan Saeed simply replied, “3M options as all other Directors and $40k cash comp.”
Hours later, Saeed clarified that he intended to send that reply to another journalist.
Raza Bokhari, executive co-chairman and CEO of FSD Pharma, said in a subsequent email that he’s known Buyer for years and believes that while he “remains opposed to recreational use of cannabis,” he “has come to recognize the potential of cannabinoid molecule in drug development targeting auto-immune diseases, especially the role of synthetic cannabinoids and other cannabinoids targeting the endocannibinoid system of the human body.”
The former congressman has been on “a very personal journey, with his wife being plagued with an auto-immune disease that has no cure and others in her family also that suffer from auto-immune diseases,” Bokhari said.
He added that Buyer has personally invested a quarter of a million dollars in the company and compared him to former House Speaker John Boehner (R-OH), who also joined the marijuana industry after opposing cannabis reform while serving in Congress.
In a press release announcing the appointment, Buyer said the “opportunity to participate in FSD’s growth at this stage is exciting” and that he’s “attracted by FSD’s medical research to tame and define the unknown by challenging the edges of medical science to provide relief to people suffering from fibromyalgia and other serious illnesses.”
In welcoming Steve Buyer to the FSD Pharma Board of Directors and announcing a share consolidation, the Company has made an immense positive stride forward https://t.co/aAP9cM2kAi
— FSD Pharma (@FsdPharma) October 11, 2019
One industry that the former congressman’s actions did assist while in office and later went on to work for as a lobbyist is Big Tobacco. Buyer raised eyebrows in 2009 when he opposed legislation to regulate the tobacco industry and argued in a House floor speech that a person is just as likely to experience the health consequences of cigarettes if they were to smoke dried lettuce or grass. He insisted that it’s “smoke that kills, not the nicotine.”
Shortly after retiring, Buyer joined tobacco company Reynolds American as a lobbyist and paid consultant.
There have been several reports that noted Buyer’s decision not to run for reelection in 2010 came amid controversy over a foundation he founded. The Frontier Foundation was supposed to provide educational funding for students, but while it raked in tens of thousands from pharmaceutical interests such as Ely Lilly and PhRMA over a three-year period, it reportedly hadn’t distributed a single scholarship.
His retirement came months after USA Today and the Indianapolis Star reported on the foundation’s activities.
But now, Buyer is entering the cannabis space, and the company described his experience in the pharmaceutical industry and Congress as an asset.
“In welcoming Steve Buyer to the FSD Pharma Board of Directors and announcing a share consolidation, the Company has made an immense positive stride forward” FSD Pharma CEO Raza Bokhari said. “Steve’s addition has further strengthened the independence and profile of the FSD Pharma Board of Directors; his broad leadership experience and pharmaceutical industry relationships will help enhance our visibility, especially among U.S. Institutional investors and on U.S. Capitol Hill.”
Buyer also previously served as a special assistant U.S. attorney and an Indiana deputy attorney general.
This story has been updated to include additional comment from FSD Pharma’s CEO.
Inside Mitch McConnell’s Private Lunch Meeting With The Marijuana Industry
Photo courtesy of Philip Steffan.
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