According to CBC, Canada is one of only two countries, together with the Netherlands – that currently exports cannabis, allowing firms in Canada to take instant benefit of recent medical cannabis legalizations in more than 20 countries. CBC reported that the, “offerings in today’s Canada medical marijuana market differ little from those used recreationally – the smokable plant and, more recently, oil extracts. More than 70 companies have licenses from the federal drug regulator, Health Canada, to cultivate, produce and sell medical marijuana, with more than half those licenses granted in 2017 or 2018.”
According to a report published by Forbes, Brightfield Group estimates that the global cannabis industry was worth USD 7.7 Billion at the end of 2017 and is projected to cross the USD 30 Billion mark by 2021.
Numerous scientific studies of the cannabinoid chemical have resulted in two FDA-approved medications in a pill form. The two main cannabinoids from the cannabis plant are THC and CBD, which are used for medical purposes as treatments for various conditions such as increasing appetite, reduce nausea, decreasing pain, inflammation, and muscle control problems.
Cannabis related and legal marijuana stocks in the news recently are:
Cronos Group Inc. (NASDAQ:CRON) CRON is a globally diversified and vertically integrated cannabis company with a presence across four continents. On June 25, 2018, the Company announced that it has entered into a strategic distribution partnership with Delfarma Sp. Zo.o. Founded in 2004, Delfarma is a privately owned pharmaceutical wholesaler and was the first company in Poland to introduce international parallel import of medicinal products from European Economic Area countries. Delfarma distributes directly to over 5,000 pharmacies and more than 200 hospitals, a distribution network that reaches approximately 40% of the Polish domestic market. Under the initial five-year exclusive distribution agreement, Cronos Group’s global subsidiaries will supply Peace Naturals branded cannabis products to Delfarma for distribution within Poland.
Canopy Growth Corporation (NYSE:CGC) CGC is a world-leading diversified cannabis and hemp company, offering distinct brands and curated cannabis varieties in dried, oil and Softgel capsule forms. Continuing the theme of securing major supply agreements in every Canadian province and territory with announced supply plans, Canopy Growth Corporation recently announced that cannabis grown in its Delta and Aldergrove facilities, its other sites across the country, and products from its CraftGrow partners, will be sold in fine retailers, both government-operated and private, across the province of British Columbia post-prohibition. Canopy Growth entered into a supply MOU with the BC Liquor Distribution Branch to make available 5,719 kg of high-quality cannabis products in the first 12-months following October 17th, 2018. The quantity referenced is a delivery requirement agreed to in the MOU, not an internal allocation. “Investing in a reliable, national production footprint early has made all the difference as provincial partners assess potential supply sources,” said Mark Zekulin, President & Co-Chief Executive Officer. “We’ve established a strong presence in BC with state-of-the-art greenhouse facilities in Delta and Aldergrove and we can’t wait to see the BC bud we’re currently growing and harvesting at both sites readily available on store shelves.”
GW Pharmaceuticals plc (NASDAQ:GWPH) GWPH is a biopharmaceutical company focused on discovering, developing and commercializing novel therapeutics from its proprietary cannabinoid product platform in a broad range of disease areas. The Company, along with its U.S. subsidiary Greenwich Biosciences, recently announced that the U.S. Food and Drug Administration (FDA) has approved EPIDIOLEX® (cannabidiol) oral solution for the treatment of seizures associated with Lennox-Gastaut syndrome (LGS) or Dravet syndrome in patients two years of age or older. EPIDIOLEX is the first prescription pharmaceutical formulation of highly-purified, plant-derived cannabidiol (CBD), a cannabinoid lacking the high associated with marijuana, and the first in a new category of anti-epileptic drugs (AEDs). Product availability is pending rescheduling which is expected to occur within 90 days. LGS and Dravet syndrome, which develop in childhood, are rare, severe forms of epilepsy that are notoriously treatment-resistant. Most patients with LGS and Dravet syndrome require multiple seizure medications and the majority are resistant to currently approved AEDs. The day-to-day impact of these conditions is significant with high rates of early mortality. “Today’s approval of EPIDIOLEX is a historic milestone, offering patients and their families the first and only FDA-approved CBD medicine to treat two severe, childhood-onset epilepsies,” said Justin Gover, GW’s Chief Executive Officer.
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