Tetrahydrocannabinol – or THC – may be the most popular cannabinoid thanks to its ability to produce a ‘high’ for users, but cannabidiol – or CBD – has become the focus of the medical community. Since cannabis remains illegal in the U.S. on a federal level, non-psychoactive hemp plants have become a popular source of CBDs that can be used for therapeutic or wellness purposes ranging from pain relief to skin care.
According to the Hemp Industry Association, annual retail sales of hemp products grew at a 10.4% clip to surpass $570 million in 2015. Industrial applications still account for most of the market, but hemp foods, personal care products, supplements, and hemp-derived CBD products have experienced a growing market share. Hemp Business Journal’s CBD Report projects that hemp-based CBD products will become a $450 million market by 2020.
In this article, we will look at how Medical Marijuana Inc. (OTC Pink: MJNA) is well positioned to capitalize on this market’s explosive growth over the coming quarters.
CBD’s Wellness Role
The Hemp Business Journal’s CBD Report highlights the growing role of CBDs for wellness, projecting that approximately 40% of the $450 million market will be devoted to pharmaceuticals by 2020. Charlotte’s Web is perhaps the best example of a CBD-dominant form of cannabis that could potentially alleviate the symptoms of epilepsy and other medical conditions, but hemp-based alternatives could provide a legal pathway to the same outcomes.
For example, GW Pharmaceuticals plc’s (NASDAQ: GWPH) Epidiolex is a 99% CBD and 0.1% THC pharmaceutical compound that’s undergoing FDA-sanctioned clinical trials for the treatment of Dravet Syndrome – a rare form of epilepsy that’s difficult to treat. The company’s Sativex – a pharmaceutical compound containing a 1:1 ratio of CBD and THC – was also approved by Canadian authorities for the treatment of pain associated with multiple sclerosis.
Google Scholar has archived more than 2,000 research papers discussing CBD’s role in the treatment of various medical conditions this year. With hemp-based CBDs widely available to researchers in the United States, a growing number of researchers have become interested in the cannabinoid’s potential across a spectrum of diseases. These published papers could eventually sway the medical community and open the door to new therapeutics.
Building a Global Presence
Medical Marijuana Inc. is building a global footprint in the CBD industry with its Real Scientific Hemp Oil (“RSHO”) – a hemp-derived pure CBD oil that’s available over the counter – until the scientific community catches up. With distribution across all of the United States and numerous countries around the world including Mexico, Columbia, and Brazil, the company has become a leader in providing pure CBD oils that have been shown to be effective in treating epilepsy, pain, and other conditions.
In addition to its over-the-counter products, the company has a 45.5% stake in AXIM Biotech Inc. (OTCQB: AXIM), which owns the patent for chewing gum as a delivery method for cannabinoids. The company will soon start Phase III clinical trials for their combination CBD/THC gum MedChew™ RX for the treatment of spasticity associated with multiple sclerosis and, once approved by the EMA, the gum will be offered across the European Union.
The company also holds a portfolio of other companies focused on distributing and marketing CBDs and advancing the science of cannabinoids. For example, its Kannaway subsidiary is focused on marketing cannabinoids throughout the United States with a variety of different products targeting areas like skincare, while its Kannalife subsidiary holds an exclusive license from the NIH for the commercialization of US Patent 6,630,507 for neuroprotection.
Recently, Medical Marijuana Inc. was featured in a Forbes article discussing growth in the CBD market. In the article, Debra Borchardt, a cannabis-focused contributor, outlines the state of the market and the company’s leadership position within the market. The company makes it clear that its products are derived from high-quality hemp grown in Austria with products that include Dixie Botanicals and Real Scientific CBD Oils.
Looking Ahead
Medical Marijuana Inc.’s (OTC Pink: MJNA) focus on over-the-counter pure CBD oil and pharmaceutical products that take advantage of cannabinoids make it one of the most advanced companies in the space. Investors looking for a diversified play on CBDs that’s already generating tangible revenue may want to take a closer look at the company and its many subsidiaries focused on all areas of the industry.
For more information, visit the company’s website at www.medicalmarijuanainc.com.
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