IGC Set to Enter California Cannabis Market

02:53 08/14/2018

India Globalization Capital, Inc. IGC  announced that it has designated California as a priority market for Hyalolex, its lead cannabis-based supplement for treating and managing Alzheimer's patients.

IGC  has two lines of business, a legacy infrastructure business and a cannabis pharmaceutical business that has developed a lead product for Alzheimer's patients. The Company recently announced that it is working on using blockchain to address issues specific to the cannabis industry that address transactional difficulties, product labeling, product identification assurance (PIA), and product origin assurance (POA). The company is based in Maryland, USA.

"The cannabis market is showing explosive growth and we are aggressively moving forward with our vision of owning and marketing the leading brands for large medical indications such as Alzheimer's, Parkinson's, PTSD, pain, veterinary medicine and cancer. With 8 patents filed, IGC has made significant strides towards achieving these goals and building value for our shareholders as a NYSE American listed company," stated Ram Mukunda, CEO of IGC.

India Globalization Capital’s (NYSE:IGC) IGC  management team has been actively meeting with California-based manufacturers and distributers to assemble the requisite combination of partners to efficiently bring Hyalolex to dispensaries, patients and caregivers in California. Our "Drops of Clarity" marketing program will highlight the potential benefits of Hyalolex as a supplement to cannabis physicians as well as to caregivers and patients via both a digital format and through grassroots outreach.

"California is considered to be the largest addressable U.S. market for cannabis with an environment that strongly embraces its acceptance. This represents a significant opportunity for Hyalolex and our brands, as such we are currently coordinating the necessary steps to efficiently and rapidly introduce our product to high-density regions in the state. It should be noted that according to U.S. Census data, California has an estimated population of 39.54 million and that total is larger than all of Canada," continued Mukunda.

"In fiscal 2018, the Company's focus was to develop and lay the foundation to commercialize cannabinoid-based alternative therapies for indications such as Alzheimer's disease, Parkinson's disease and pain. According to the Alzheimer's Association, "Alzheimer's is a brain disease that causes a slow decline in memory, thinking and reasoning skills". The name Hyalolextm is derived from the Greek prefix 'hyalo' meaning glass-like, clear, transparent. The Company's marketing and branding campaign, therefore, is entitled 'Drops of Clarity'. This initiative will commence in several states where the Company will highlight the potential benefits of Hyalolextm as a supplement to authorized cannabis physicians as well as to caregivers and patients via both a digital format and through grassroots outreach. The Company expects to utilize this methodology, in conjunction with licensing arrangements with manufacturers, to expand its reach into multiple U.S. markets and Canada. Education and product differentiation are key components for 'Drops of Clarity'," said Ram Mukunda, Chief Executive Officer of IGC.

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.
Most Read