HOLLYWOOD, Calif., Aug. 12, 2013 /PRNewswire/ -- Medbox, Inc. (OTC Markets: MDBX) (www.medboxinc.com), a leader in providing consulting services and patented inventory control, compliance, and dispensing systems to the medical and retail industries, announced that they have been featured in The Wall Street Journal MarketWatch.
The article states that the medical marijuana industry, now legal in 20 states and Washington, D.C., could double next year, to $3 billion. "And owners and shareholders of some companies — including Medbox (MDBX), whose stock is up more than 800% in the past year, has certainly benefited from legalization."
The article points out that under federal law, selling, producing, possessing and consuming marijuana is still a crime. However, Medbox is not engaged in the business of selling, producing, processing or consuming marijuana, and makes its revenues through consulting and sales of its patented inventory control system. This important distinction may be one of the reasons why Medbox has become a darling stock on Wall Street.
Furthermore, shareholder and company growth may be fueled by increased acceptance of medical marijuana nationwide, and shifting trends that point out that marijuana is not the evil, addictive substance it was once portrayed to be.
In fact, according to the latest research from the Gallup Organization, fewer young people are trying cannabis now than in 1985.
As reported by the Huffington Post, "In 1985, 56 percent of Americans aged 18-29 had tried marijuana. The figure now for that age group is just 36 percent."
"The data also dismisses the myth that making marijuana legal will encourage use, especially by young people," Dr. Bruce Bedrick, CEO of Medbox commented. "Medical marijuana has a legitimate place in a doctor's arsenal to treat a variety of serious conditions."
CNN Chief Medical Correspondent Dr. Sanjay Gupta made headlines last week when he wrote that he changed his mind and was now in favor of medical marijuana.
"I mistakenly believed the Drug Enforcement Agency listed marijuana as a Schedule 1 substance because of sound scientific proof," Dr. Gupta penned. "They didn't have the science to support that claim, and I now know that when it comes to marijuana, it doesn't have a high potential for abuse, and there are very legitimate medical applications. In fact, sometimes marijuana is the only thing that works," he added.
"We have been terribly and systematically misled for nearly 70 years in the United States, and I apologize for my own role in that," Dr. Gupta wrote.
Until 1943, marijuana was part of the United States drug pharmacopeia. One of the conditions for which it was prescribed was neuropathic pain. "It is a miserable pain that's tough to treat," Gupta said. "While marijuana has long been documented to be effective for this awful pain, the most common medications prescribed today come from the poppy plant, including morphine, oxycodone and dilaudid," he added.
"Here is the problem," Gupta stated. "Most of these medications don't work very well for this kind of pain, and tolerance is a real problem."
"Most frightening to me is that someone dies in the United States every 19 minutes from a prescription drug overdose, mostly accidental. Every 19 minutes. It is a horrifying statistic. As much as I searched, I could not find a documented case of death from marijuana overdose," Gupta said.
"It is perhaps no surprise then that 76% of physicians recently surveyed said they would approve the use of marijuana to help ease a woman's pain from breast cancer."
As for the future, Gupta wrote, "Looking forward, I am especially intrigued by studies like those in Spain and Israel looking at the anti-cancer effects of marijuana and its components. I'm intrigued by the neuro-protective study by Lev Meschoulam in Israel, and research in Israel and the United States on whether the drug might help alleviate symptoms of PTSD," he added. "I promise to do my part to help, genuinely and honestly, fill the remaining void in our knowledge."
"As more states consider legalizing medical marijuana, we hope the myths of the past will be replaced by the science of the present," Dr. Bedrick commented. "And that patients who could benefit from this natural plant will not be denied access."
For more information on Medbox, visit: www.thedispensingsolution.com.
To view the Wall Street Journal MarketWatch article, visit: http://www.marketwatch.com/story/10-things-medical-marijuana-wont-tell-you-2013-08-09?pagenumber=1
To read the Huffington Post article, visit: http://www.huffingtonpost.com/russ-belville/marijuana-legalization_b_3709636.html?ncid=edlinkusaolp00000009
To read Dr. Sanjay Gupta's article on CNN, visit: http://www.cnn.com/2013/08/08/health/gupta-changed-mind-marijuana
About Medbox, Inc:
Medbox is a leader in the development, sales and service of automated, biometrically controlled dispensing and storage systems for medicine and merchandise. Medbox has offices throughout the world, including New York, Arizona, Connecticut, Massachusetts, Tokyo, London and Toronto, and has their corporate headquarters in Los Angeles.
Medbox provides their patented systems, software and consulting services to pharmacies, dispensaries, urgent care centers, drug rehab clinics, hospitals, prison systems, hospice facilities, and medical groups worldwide.
Medbox, Inc. is a publicly traded company, and is quoted on the OTC Markets, ticker symbol MDBX.
For more information on Medbox, please contact the Medbox Investor Relations Department at (800) 762-1452 or go online to www.medboxinc.com.
Forward-Looking Statements: The statements in this press release constitute forward-looking statements within the meaning of federal securities laws. Such statements are based on our current beliefs and expectations and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control. In addition, such forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Potential risks and uncertainties include, but are not limited to, technical advances in the industry, political conditions and economic conditions in the states considering such legislation. We do not take any obligation to update any forward-looking statement to reflect events or developments after a forward-looking statement was made.
SOURCE Medbox, Inc.