Research Solidifies the Medical Benefits as Global Cannabis Value Grows

01:56 08/06/2018

Factors influencing the medicinal cannabis industry include the growing acknowledgment of medicinal benefits, stronger demand for cannabis in the treatment of various diseases and a rising number of research and development activities. Sales of cannabis products for recreational (adult use) use are also expected to increase, as Canada’s California's new recreational cannabis laws went into effect this year.

Recent legislative victories for the cannabis industry are expected to have a highly positive impact on the economy. "The cannabis sector currently employs an estimated 125,000 to 160,000 full-time workers," industry analyst and Editorial Vice President of MJBizDaily, Chris Walsh, explained at The Marijuana Business Conference & Expo, according to a report from Fortune. "To put this in perspective, there are potentially more full-time marijuana industry workers than there are librarians or kindergarten teachers throughout the country - and over 6 times the number of coal miners in the U.S.”

A report by Energias Market Research predicts that the global medical cannabis market will grow significantly, from USD 8.28 Billion in 2017 to USD 28.07 Billion in 2024 and at a CAGR of 19.1% from 2018 to 2024.

Marijuana/cannabis companies actively making moves are:

Innovative Industrial Properties Inc. (NYSE:IIPR) IIPR  is a self-advised Maryland corporation focused on the acquisition, ownership and management of specialized industrial properties leased to experienced, state-licensed operators for their regulated medical-use cannabis facilities. Earlier this month, the Company announced that it closed on the acquisition of a property located at 96 Palmer Road in Monson, Massachusetts, which comprises approximately 55,000 sq. ft. of industrial space situated on approximately 5.4 acres. The purchase price for the property was USD 12.75 Million. Concurrent with the closing of the purchase, the Company entered into a long-term, triple-net lease agreement with Holistic Industries Inc., which intends to continue to operate the property as a medical-use cannabis cultivation and processing facility in accordance with Massachusetts medical-use cannabis regulations. The initial term of the lease is 20 years, with three options to extend the term for three additional five-year periods.

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. On June 25, 2018, the Company announced that the U.S. Food and Drug Administration has approved EPIDIOLEX® oral solution for the treatment of seizures associated with Lennox-Gastaut syndrome or Dravet syndrome in patients two years of age or older. EPIDIOLEX is the first prescription pharmaceutical formulation of highly-purified, plant-derived cannabidiol, a cannabinoid lacking the high associated with marijuana, and the first in a new category of anti-epileptic drugs. Product availability is pending rescheduling which is expected to occur within 90 days.

Zynerba Pharmaceuticals, Inc. (NASDAQ:ZYNE) ZYNE  is a clinical-stage specialty pharmaceutical company dedicated to developing and commercializing innovative pharmaceutically-produced transdermal cannabinoid treatments for rare or near-rare neuropsychiatric diseases with high unmet medical needs.

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. The Company recently provided the following updates on its medical cannabis program and to re-affirm its strong commitment to medical cannabis, the patients who depend on it, and the Healthcare Professionals who prescribe it.

This article has been provided by a Chasing Markets contributor. All content submitted by this author represent their personal opinions, and should be considered as such for entertainment purpose only. All opinions expressed are those of the writer, and may not necessarily represent fact, opinions, or bias of Chasing Markets.
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