NEW YORK, February 28, 2017 /PRNewswire/ --
The legal cannabis industry has a very important accomplishment to brag about - job creation. A new research published by New Frontier Data projects that the legal cannabis market will create more than a quarter of a million new jobs by 2020, a bigger number of new jobs than is expected from manufacturing or even the government, according to the Bureau of Labor Statistics. The legal cannabis market was worth an approximately $7.2 billion in 2016 and is projected to grow at a compound annual growth rate of 17%, according to the research. Medical cannabis sales are projected to grow from $4.7 billion in 2016 to $13.3 billion in 2020. Sales of cannabis for recreational use are estimated to increase from $2.6 billion in 2016 to $11.2 billion by 2020. ChineseInvestors.com (OTC: CIIX), Cara Therapeutics Inc. (NASDAQ: CARA), Insys Therapeutics Inc. (NASDAQ: INSY), Zynerba Pharmaceuticals Inc. (NASDAQ: ZYNE), GW Pharmaceuticals (NASDAQ: GWPH)
Founder and CEO of New Frontier Data, Giadha Aguirre De Carcer, commented, "These numbers confirm that cannabis is a major economic driver and job-creation engine for the U.S. economy." Forbes reported: "While we see a potential drop in total number of U.S. jobs created in 2017, as reported by Kiplinger, as well as an overall expected drop in GDP growth, the cannabis industry continues to be a positive contributing factor to growth at a time of potential decline. We expect the cannabis industry's growth to be slowed down to some degree in the next three to five years, however with projected total market sales to exceed $24 billion by 2025, and the possibility of almost 300,000 jobs by 2020, it remains a positive economic force in the U.S."
ChineseInvestors.com (OTCQB: CIIX) announced yesterday that the "company CEO Warren Wang attended Shangdong Yibao Biologics Co. Ltd.'s annual conference, and, by invitation, delivered a five-minute speech to celebrate the 18th anniversary of Yibao Biologics.
As an attendee of the conference, Wang learned how direct sales of the health products industry operate in China, and how to apply this information to build the sales team of CIIX's ChineseCBDoil.com retail website. "The market for direct selling of natural products in the United States has considerable depth, and varies from the Chinese market in many ways. It was an honor to attend this year's Yibao Biologics conference, where I was able to gain valuable market insight as well as present my own expertise to fellow attendees," says Wang.
ChineseInvestors.com recently launched http://www.ChineseCBDoil.com , marking the company's official entry into the CBD hemp oil markets. "ChineseInvestors.com will continue to sell CBD health products through online retailing methods… we will gradually open offline selling channels and combine word-of-mouth marketing with Internet retailing. Our goal is to benefit more Chinese people with reliable logistics network and commodity channels, as well as to provide leading positions in products and resources. Due to the huge size of the Chinese direct selling market, we hope to further expand our market share through investment and alliance in and with direct selling companies," concludes Wang.
Cara Therapeutics Inc. (NASDAQ: CARA) is a clinical-stage biotechnology company focused on developing and commercializing new chemical entities designed to alleviate pain and pruritus by selectively targeting peripheral kappa opioid receptors. Cara is developing a novel and proprietary class of product candidates that target the body's peripheral nervous system and have demonstrated initial efficacy in patients with moderate-to-severe pain without inducing many of the undesirable side effects typically associated with currently available pain therapeutics. The Company's CR701 is a peripherally-restricted, mixed-CB1/CB2 receptor agonist that interacts with cannabinoid receptor subtypes, with no off-target activities. CR701 is in preclinical-stage of development.
Insys Therapeutics Inc. (NASDAQ: INSY) is recognized for its advances surrounding a progressive line of innovative drugs and novel drug delivery systems that improve the quality of patients' lives. The company is currently researching on its cannabidiol oral solution for the treatment of subjects with Prader-Willi Syndrome. The primary objectives of this study are to assess the efficacy of Cannabidiol Oral Solution on hyperphagia-related behavior in subjects with Prader-Willi Syndrome, and to assess the efficacy of Cannabidiol Oral Solution on body weight in subjects with PWS.
Zynerba Pharmaceuticals Inc. (NASDAQ: ZYNE) is a clinical-stage specialty pharmaceutical company dedicated to the development of innovative transdermal synthetic cannabinoid treatments. Zynerba develops therapeutic candidates based on proprietary transdermal technologies that, if successfully developed, may allow sustained, consistent and controlled delivery of therapeutic levels of two cannabinoids: cannabidiol, a non-psychoactive cannabinoid, and tetrahydrocannabinol. Transdermal delivery has the potential to reduce adverse effects associated with oral dosing. The Company's CBD gel, ZYN002, is the first and only synthetic CBD formulated as a patent-protected permeation-enhanced gel.
GW Pharmaceuticals (NASDAQ: 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. GW is advancing an orphan drug program in the field of childhood epilepsy with a focus on Epidiolex® (cannabidiol), which is in Phase 3 clinical development for the treatment of Dravet syndrome, Lennox-Gastaut syndrome, Tuberous Sclerosis Complex and Infantile Spasms.
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