The cost of medical expenses can pile up very quickly for some. According to a survey conducted by Eventbrite, an average American spends approximately USD 199 each month on self-medication. In total, a typical American can spend upwards of USD 143,280 in their lifetime to treat themselves. Self-medicating is considered purchasing an over-the-counter (OTC) drug to treat a simple condition like headaches or a common cold. However, often times, medical attention is required for more severe cases. Certain therapies and treatments can cost thousands of dollars, potentially even hundreds of thousands depending on the severity of the condition. For instance, treatment of epilepsy (VNS therapy) in the U.S. can cost as much as USD 20,000, which includes implants and a surgical procedure. However, the cost of the surgery can vary throughout parts of the U.S. and can increase over time, according to the Epilepsy Foundation of Greater Chicago. Due to the rising costs of medical treatments, researchers and medical institutions have sought out alternatives to offer consumers cheaper options. Notably, cannabis has become a popular alternative within the healthcare marketplace, as specifically, CBD or cannabidiol is being leveraged across global markets because of its therapeutic benefits. Researchers have discovered that CBD can effectively be used to treat a variety of medical conditions, including cancer, arthritis, multiple sclerosis, and even epilepsy. Remarkably, the U.S. Food and Drug Administration approved the first-ever cannabis-based drug in 2018, Epidiolex, which is used to treat Dravet syndrome and Lennox-Gastaut syndrome, a form of epilepsy common among children. However, the FDA explicitly stated that more positive and large-scale clinical trials are required before the agency can approve more cannabis-based treatments. And as a result, scientists and researchers are now undergoing vigorous trials to uncover the efficacy of CBD. According to data compiled by Acumen Research and Consulting, the global cannabidiol market is projected to reach a market value of USD 22 Billion by 2026. Additionally, the market is expected to grow at a CAGR of 33% over the forecast period from 2019 to 2026. Pressure BioSciences, Inc. (OTC: PBIO), Zynerba Pharmaceuticals, Inc. (NASDAQ: ZYNE), Neptune Wellness Solutions Inc. (NASDAQ: NEPT) (TSX: NEPT), Sorrento Therapeutics, Inc. (NASDAQ: SRNE), iAnthus Capital Holdings, Inc. (OTC: ITHUF) (CSE: IAN)
Zynerba Pharmaceuticals, Inc. (NASDAQ:ZYNE), the leader in innovative pharmaceutically-produced transdermal cannabinoid therapies for rare and near-rare neuropsychiatric disorders, today announced that the Company will be added as a member of the U.S. all-cap Russell 3000 and small-cap Russell 2000 Indexes at the conclusion of the 2019 Russell indexes annual reconstitution. The annual reconstitution will conclude and the newly reconstituted indexes will begin running at the open of the U.S. markets today, July 1, 2019.
With the spread of pharmaceutical therapy, the cannabidiol market is positioned to experience immense growth in the shortcoming years. Cannabidiol, or CBD, is a derivative found within the cannabis plant. While CBD stems from the cannabis plant, it does not offer the same effects that cannabis is commonly associated with. Instead, CBD offers consumers a more relaxing and therapeutic effect as opposed to a psychoactive “high.” Typically, legally sold CBD is derived from the hemp plant, which falls within the cannabis family. Compared to its marijuana counterpart, hemp generally contains less than 0.3% THC levels, which cannot cause any cerebral-altering effects. Henceforth, many medical institutions are evaluating the efficacy of CBD and potentially leveraging it for medical applications. Furthermore, current studies have linked CBD to the successful treatment of a number of ailments such as cancer, chronic pain, multiple sclerosis, and epilepsy. Primarily, most studies have returned promising results and as a result, the U.S. Food and Drug Administration ultimately approved Epidiolex, the first ever cannabis-derived drug, in order to treat epilepsy among children. The approval of Epidiolex marked a historic milestone for the cannabis industry because it is the first time a cannabis-based product has been recognized by a U.S. agency since the prohibition era began. The FDA’s decision highlights the medical importance that CBD can offer for consumers. However, in order to progress further in the medical cannabis marketplace, the FDA said it requires more large-scale positive clinical trials to fully understand CBD. Nonetheless, more and more countries around the world are beginning to explore opportunities within the CBD industry. Significant economic, political, and legislative shifts across the world are expected to impact the approval of CBD. According to data compiled by Reports and Data, the global CBD market is expected to grow from USD 1.04 Billion in 2018 to USD 16.32 Billion by 2026. Additionally, the market is projected to witness a CAGR of 27.7% during the forecasted period. Pressure BioSciences, Inc. (OTC: PBIO), Zynerba Pharmaceuticals, Inc. (NASDAQ: ZYNE), Charlotte’s Web Hldgs Inc. (OTC: CWBHF) (CSE: CWEB), The Green Organic Dutchman Holdings Ltd. (OTC: TGODF) (TSX: TGOD), MariMed, Inc. (OTC: MRMD)
Cannabis has emerged as a global and disruptive market over recent year due to a group of the countries moving towards legalization. Notably, Canada’s legalization of adult-use marked a historic milestone within the cannabis industry as it became just the second country and the first G-7 nation to fully legalize cannabis. However, most analysts have diverted their attention towards the U.S. because of the opportunities available within the region. The U.S. has not federally legalized cannabis as of yet but has granted states their own jurisdiction whether to legalize cannabis or not. Now, more than half of the U.S. has legalized cannabis for medicinal applications, while a little over a fifth have legalized its recreational use. While the U.S. has not federally legalized either medical or recreational cannabis, it is still the largest market within the global market space. The U.S. remains as the global cannabis industry driver because of its early adoption, dating back to 1996 when California became the first state to legalize medical cannabis. Moreover, Colorado and Washington made remarkable progress when the two states became the first to ever legalize recreational cannabis in 2014. Since then, the two states have collectively delivered billions of dollars annually off of cannabis sales. Recently, Illinois became the 11th state to legalize cannabis, joining states such as California, Vermont and Michigan in a cohort growing partnership. With Illinois’ passage, more states, including New Jersey and New York, are expected to follow in the near future. Barclays analysts have speculated that if the U.S. cannabis market was legalized today, it could be worth roughly USD 28 Billion. Furthermore, Barclays predicts that the market will grow to USD 41 Billion by 2028 on a pre-tax basis. Barclays compiled the data from a 2017 survey that indicated that approximately 26 million Americans above the age of 12 “were users of marijuana,” or nearly 10% of the total U.S. population. MediPharm Labs Corp. (OTCQX: MEDIF) (TSX-V: LABS), GW Pharmaceuticals plc (NASDAQ: GWPH), Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON), Zynerba Pharmaceuticals, Inc. (NASDAQ: ZYNE), Sorrento Therapeutics, Inc. (NASDAQ: SRNE)
Marijuana has been classified as one of the most abused drugs in the entire world and despite its status as a controlled substance, it was highly accessible to consumers in regions around the globe. Marijuana is part of the cannabis family of plants and due to its psychoactive properties, it was virtually illegal in almost every country during the prohibition era. However, several countries have conducted clinical trials to better understand the efficacy of marijuana’s chemicals as well as the entire cannabis plant. Researchers concluded that cannabis can be leverage for its therapeutic benefits to treat a variety of medical conditions. In addition, certain regions around the world believe that cannabis can be an economic growth driver. And as a result, a select few regions have legalized or decriminalized the recreational use of cannabis. According to New Frontier Data, there were approximately 263 million cannabis users worldwide among ages 15 to 65 in 2018 and the North American region dominated the marketplace with the most consumers. The data also suggested that approximately 15.1% of the North American region had used cannabis during 2018 and on average, 6% of the global population had used cannabis during the year. The region boasts a higher cannabis user base compared to other areas because of its early adoption as North America’s cannabis legalization dates back to the 1990s when several U.S. states legalized medical cannabis. Now, more than half the U.S. has adopted medicinal cannabis legislation and some U.S. states have begun to legalize recreational cannabis after Colorado and Washington took the initial step in 2014. Then in 2018, Canada moved to fully legalize cannabis, following in Uruguay’s steps and becoming the second nation to ever do so. According to data compiled by GlobaInfoResearch, the global marijuana market is expected to reach USD 7.97 Billion in 2019. By 2024, the research suggests that marijuana is projected to exceed a value of USD 35.0 Billion while registering a CAGR 28%. Pasha Brands Ltd. (OTC: CRFTF) (CSE: CRFT), Molson Coors Brewing Company (NYSE: TAP) (TSX: TPX), Zynerba Pharmaceuticals, Inc. (NASDAQ: ZYNE), iAnthus Capital Holdings, Inc. (OTC: ITHUF) (CSE: IAN), Sorrento Therapeutics, Inc. (NASDAQ: SRNE)
Zynerba Pharmaceuticals, Inc. (NASDAQ:ZYNE), the leader in innovative pharmaceutically-produced transdermal cannabinoid therapies for rare and near-rare neuropsychiatric disorders, today announced that the U.S. Patent and Trademark Office has issued US Patent No. 10,314,792, titled “Treatment of Autism Spectrum Disorder with Cannabidiol” which includes claims directed to methods of treating autism spectrum disorder by administering a therapeutically effective amount of synthetic cannabidiol.
The cannabis industry has moved into the spotlight throughout the recent years due to the widespread legalization efforts seen around the world. The public support has risen substantially over the past two decades as clinical trials debunked common stereotypes. Now, according to Pew Research Center, over 62% of Americans support the legalization of marijuana, which has nearly doubled since 2000. The public’s opinion heavily factors into government decisions across the world, but notably, the advocacy from celebrities has played a major role in the industry. Prominent public figures such as Seth Rogan, Snoop Dogg, Wiz Khalifa, Melissa Etheridge, and Willie Nelson have all voiced their positive stance on cannabis. For instance, Melissa Etheridge has long endorsed cannabis for its medical therapeutic effects after she was diagnosed with breast cancer back in 2004. Following her successful recovery, Etheridge believes that cannabis will completely reshape the healthcare and medical industry in the near future. Moreover, Willie Nelson and Wiz Khalifa have also launched their own lines of cannabis-branded products primarily for recreational purposes. For instance, Wiz Khalifa has his own personal strain called Khalifa Kush, however, it is supposedly unavailable to the public. According to Wikileaf, Khalifa Kush is an indica-dominant hybrid strain with THC levels between 26% to 29% and the strain is predominantly known for its stimulating effects. Breeders designed the strain for uplifting cerebral effects along with relaxing body effects and high-quality strains such as Khalifa Kush are quickly becoming increasingly sought after, regardless of the price per gram. However, every individual consumer has different tastes and tolerance levels, meaning that cultivators would need to produce strains to appeal to each specific demographic. In order to obtain these specialized strains, cultivators can alter the biological makeup of the strain throughout the growing process. Strains can either be highly potent or offer a simple relaxation effect. And as a result, the cannabis marketspace is becoming more attractive to both novice users and even the more experienced or frequent users. According to data compiled by Ameri Research, the global legal marijuana market was valued at USD 14.3 Billion in 2016. By 2024, legal marijuana global sales are projected to reach USD 63.5 Billion while exhibiting a CAGR of 21.1% from 2017 to 2024. Pasha Brands Ltd. (CSE: CRFT), Molson Coors Brewing Company (NYSE: TAP) (TSX: TPX), Innovative Industrial Properties, Inc. (NYSE: IIPR), Aphria Inc. (NYSE: APHA) (TSX: APHA), Zynerba Pharmaceuticals, Inc. (NASDAQ: ZYNE)
Zynerba Pharmaceuticals, Inc. (NASDAQ:ZYNE), the leader in innovative pharmaceutically-produced transdermal cannabinoid therapies for rare and near-rare neuropsychiatric disorders, today announced that Ray Mannion, Zynerba’s Vice President of Manufacturing, will provide a formal presentation during the U.S. Food and Drug Administration’s (FDA) Public Hearing on Scientific Data and Information about Products Containing Cannabis or Cannabis-Derived Compounds. As noted in the Federal Register, the public hearing is scheduled from 8:00 a.m. to 6:00 p.m. ET tomorrow, May 31, 2019.
As the cannabis industry begins to heat up, companies are aggressively seeking employees to fill positions. Decades ago, the cannabis plant was being reintroduced into states such as California, Oregon, Alaska, and Washington. Since then, California and nine more states and the District of Columbia have legalized recreational cannabis use. Moreover, countries across the world have begun to decriminalize or legalize cannabis on some level as, notably, Canada became the second nation ever to legalize cannabis entirely back in late 2018. The rapid expansion and development of the industry further highlight the profound impact cannabis is having around the world. Furthermore, ZipRecruiter reported that cannabis jobs openings increased by 445%, outpacing even the technology (254%) and healthcare (70%) industries. Primarily, positions such as brand ambassadors, sales associates, product managers, and delivery drivers are firmly in demand, according to Glassdoor. Specifically, brand ambassadors and sales associates each accounted for 5% of the job openings, representing the largest share for individual positions while professional and technical fields accounted for 53% of the job openings in 2018. Glassdoor reported that the large discrepancy in the job sector is due primarily to the wide range of available positions. Nevertheless, as the cannabis industry begins to accelerate, it is expected that more professional and corporate roles will be in demand to help businesses comply with tax laws and regulations. Additionally, this workforce integration is also expected to result in the market sustaining its growth, as according to data compiled by Grand View Research, the global legal marijuana market is expected to reach USD 146.4 Billion by 2025 while registering a CAGR of 34.6%. WeedMD Inc. (OTC: WDDMF) (TSX-V: WMD), Zynerba Pharmaceuticals, Inc. (NASDAQ: ZYNE), Organigram Holdings Inc. (NASDAQ: OGI) (TSX-V: OGI), Charlotte’s Web Hldgs Inc. (OTC: CWBHF) (CSE: CWEB), Sorrento Therapeutics, Inc. (NASDAQ: SRNE)
In recent years, the cannabis industry has witnessed immense support from countries across the world. Numerous national governments have their own unique perspective regarding the plant, however, most still have not moved to legalize cannabis because of the stigma surrounding its psychoactive nature. Nonetheless, cannabis has already tapped into several of the largest global markets. For instance, Canada became the first and only G-7 nation to legalize cannabis entirely in late 2018. Meanwhile, among the other G-7 nations, France, Germany, Italy, the United Kingdom and the U.S. have all adopted partial or full medical cannabis legislation. The only G-7 nation to not have adopted any form of cannabis legislation is currently Japan. Overall, many Asian countries enforce stricter regulations, which result in severe consequences if violated. As such, cannabis companies have not had much luck tapping into the Asian markets. However, South Korea and Thailand are two Asian countries that decided to take steps forward and dive into the cannabis industry. South Korea’s medical cannabis program launched in early March and paved the way for select THC and CBD-based medication imports. In particular, Canopy Growth Corporation is among the several Canadian multinational firms looking to enter the South Korean market. Similarly, Thailand has moved to legalize medical cannabis, with many expecting the legislation to be implemented next year after Thailand’s military-appointed National Legislative Assembly voted 166 to 0 in favor of legalizing medical cannabis. The profound movement stirring throughout Asia further highlights the impact that cannabis is making on a global scale. Moreover, ongoing international legalization efforts are expected to accelerate and further bolster the market in the near future. According to data compiled by MarketsandMarkets research, the cannabis market was valued at USD 10.3 Billion in 2018. By 2023, the market is expected to reach USD 39.4 Billion while registering a CAGR of 30.7% during the forecast period. Canopy Rivers Inc. (OTC: CNPOF) (TSX-V: RIV), Anheuser-Busch InBev SA/NV (NYSE: BUD), Aphria Inc. (NYSE: APHA) (TSX: APHA), Zynerba Pharmaceuticals, Inc. (NASDAQ: ZYNE), New Age Beverages Corporation (NASDAQ: NBEV)