Optimism Grows for Cannabidiol (CBD) Products Market on Heels of recent FDA Endorsement
Palm Beach, FL – (October 30, 2018) – The rapidly developing and growing CBD market continues to be fueled by innovations in product development. CBD-based products are already a major player in the world of health and wellness, but it is also making its presence felt in other consumer markets including traditional food and beverage, as well as pet care. Cannabidiol (CBD), in particular, has made major headway as a potent source of relief from everyday symptoms suffered by people worldwide such as anxiety, PTSD, depression, as well as helping people wean off substance addictions and dangerous prescription medication such as opioids. The FDA approved Epidiolex, the very first CBD-derived pharmaceutical that was found to be effective in people suffering from seizures related to rare cases of epilepsy called Lennox-Gastaut Syndrome and Dravet syndrome. It’s not difficult to see why optimism surrounds the CBD space in terms of growth, especially since it is highly associated with the general health and wellness industry, which is currently a $3 trillion dollar space in and of itself. Scientific advancements have allowed CBD to play a role in a variety of different products and its evolution will only continue behind increased research and development. Active cannabis companies in the markets this week include PotNetwork Holdings, Inc. (OTC:POTN), MariMed Inc. (OTC:MRMD), Neptune Wellness Solutions Inc. (NASDAQ:NEPT) (TSX:NEPT), The Supreme Cannabis Company Inc. (TSX-V:FIRE.V) (OTC:SPWRF), Medical Marijuana Inc. (OTC:MJNA).
PotNetwork Holdings, Inc. (OTCPK:POTN) BREAKING NEWS: PotNetwork Holdings announced today that, as the U.S. CBD market grows and expands, the Company is aggressively developing new products and moving forward on its strategy of exploring and initiating FDA registrations, patents and trademarks specific to certain of its new proprietary, Diamond CBD products.
The Company had previously announced that it had engaged major law firms in Fort Lauderdale, Florida and Washington, D.C. to handle intellectual property (“IP”) matters, and for regulatory guidance on FDA submissions and related matters pertaining to the evaluation of the feasibility of FDA approval and registrations for certain Diamond CBD formulations.
Kevin Hagen, CEO, stated, “We believe that the future success of our Company is linked to carving out proprietary niche markets specific to unique, product formulations. Today, we are pushing forward with this strategy specific to human health and wellbeing issues under the guidance of our Scientific Advisory Board, who will oversee preliminary patient clinical trials in accordance with FDA guidelines and procedures. Our goal is to establish a unique company positioning in key markets with this initiative.” He added, “We are fortunate to be working with both talented doctors, scientists and legal advisors, who can help us achieve this goal. We believe that this strategy will further benefit the building of overall shareholder value.” Read this and more news for POTN at: https://financialnewsmedia.com/news-potn
Other recent developments in the cannabis industry include and companies on watch:
MariMed Inc. (OTCQB:MRMD) opened the week by announcing it has finalized the acquisition of BSC Group, a highly respected cannabis firm headquartered in New Jersey that over the last three years has been engaged in competitive licensing, consulting and operations management across the country. BSC founders and managing partners, Brian Staffa and Amber Staffa, will join the MariMed leadership team, bringing under the MariMed umbrella their extensive cannabis expertise, resources, intellectual property and a vast network of highly specialized affiliates spanning regulated fields of commercial cannabis, food and beverage, commercial agriculture, pharmaceuticals, regulatory compliance, consumer psychology, and the applied sciences. Brian and Amber will help guide MariMed’s strategy for new markets like New Jersey, where lawmakers inch closer to consensus on adult use legislation. New Jersey represents just one of the markets being eyed by MariMed as they aggressively pursue new opportunities across the U.S. and abroad with their added bandwidth.
Neptune Wellness Solutions Inc. (NASDAQ:NEPT) (TSX:NEPT) is a health and wellness products company, with more than 50 years of combined experience in extraction, purification and formulation of value-added, differentiated science-based products. This year in August the company filed two applications with the United States Patent and Trademark Office (USPTO) for patents related to the extraction of cannabis material. The extraction processes provide highly-efficient methods to obtain cannabinoids and other desired compounds from the cannabis plant at a greater purity than conventional methods. Both processes are pplicable to marijuana and hemp and will be incorporated into the company’s Good Manufacturing Practices (GMP)-certified extraction facility in Sherbrooke, QC upon approval of the applicable licensing to produce cannabis extract (pursuant to the Access to Cannabis for Medical Purposes Regulations). As a late-stage applicant, Neptune is currently working with Health Canada authorities to complete the licensing process.
The Supreme Cannabis Company Inc. (TSX-V:FIRE.V) (OTCQX:SPRWF) last week announced that 7ACRES branded High-End Cannabis™ is available exclusively through Canada’s provincially regulated adult-use channels. More information about 7ACRES and its products can be found at 7ACRES.com. 7ACRES’ Jean Guy strain is now available online in British Columbia , and the Company expects that Jean Guy will be online in Alberta , Ontario , Nova Scotia and Prince Edward Island next week, and in Manitoba in early November. The balance of 7ACRES’ full product lineup will be available shortly thereafter online and in brick-and-mortar stores. “In 2013 we started our journey to develop 7ACRES into Canada’s leading brand for premium cannabis flower, delivering on consumer expectations for aroma, visual appeal and flavour,” said John Fowler , President of Supreme Cannabis & Founder of 7ACRES. “We’re now excited to make 7ACRES available to adult cannabis enthusiasts and consumers looking for a superior sensory experience when consuming cannabis. Our mantra at 7ACRES is ‘RESPECT THE PLANT’. We believe that by respecting the plant, the people who care for it and the people who ultimately consume it, we have built a culture of continual improvement where consumers can expect that each flower experience is better than the last.”
Medical Marijuana Inc. (OTCPK:MJNA) recently announced that its subsidiary Phyto Animal Health has signed a distribution agreement with Liiv Organics to sell its wide variety of cannabidiol (CBD) products. “We are thrilled to sign this agreement with Liiv Organics and bring our high-quality line of hemp CBD animal products to a company that puts natural health and wellness first,” said Phyto Animal Health CEO Ian Quinn. “Our company is excited to expand our distribution reach and expand access to many new customers across the nation.” Through this distribution license, Liiv Organics will sell Phyto Animal Health’s Bacon Apple Donut CBD treats, its line of CBD liquids and CBD concentrates. Liiv Organics will no longer sell any other brand’s CBD pet products, besides their own “Pet Calming Blend”, and will exclusively sell Phyto Animal Health products. Liiv Organics is a CBD manufacturer and distributor. Based in Newport Beach, CA, the company aims to provide a variety of CBD oils, edibles, vaporizers, beauty products and pet products that are all made with natural, organically grown ingredients. All of their products are thoroughly tested and derived from hemp.
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