NEW YORK, October 4, 2017 /PRNewswire/ --
A market report by Ameri Research Inc. indicates that the global legal cannabis market was valued at $14.3 billion in 2016 and is projected to grow at a CAGR of 21.1% from 2017 to 2024. During the forecast period, the projected demand of cannabis will continue to rise for both recreational and medical use with estimated global sales value to reach $63.5 billion. A major component of the legal cannabis industry is the CBD market. Matt Karnes of Greenwave Advisors has commented about the growth of the CBD market saying, "In terms of the CBD market size, I estimate an almost $3 billion market by 2021. Right now, there are 15 states that allow CBD only - this is in addition to the 28 states plus DC that have legalized medical marijuana," Forbes reported. Chineseinvestors.com, Inc. (OTC: CIIX), Terra Tech Corp. (OTC: TRTC), CV Sciences, Inc. (OTC: CVSI), GW Pharmaceuticals plc (NASDAQ: GWPH), Zynerba Pharmaceuticals Inc (NASDAQ: ZYNE)
Including the illicit market, consumer spending on cannabis in North America amounted to an estimated $56.1 billion in 2016, 88% of it outside legal channels, according to data published by Arcview Market Research. "This enormous amount of illicit consumer spending sets cannabis apart from most other major consumer-market investment opportunities throughout history. In contrast to comparable markets which quickly grew from zero to tens of billions of dollars, such as organic foods, home video, cell phone, or the internet, the cannabis industry doesn't need to create demand for a new product or innovation - it just needs to move demand for an already widely popular product into legal channels. Troy Dayton, CEO of Arcview Market Research explained.
Chineseinvestors.com, Inc. (OTCQB: CIIX) just two days ago announced that it has, "appointed Skin Care Industry veteran and Shanghai beauty influencer, Fannie (Chun Fang) Tang as Marketing Director of its wholly-owned foreign enterprise, CBD Biotechnology Co., Ltd. effective immediately. Ms. Tang will report directly to CBD Biotechnology's CEO, Summer Yun, and will be responsible for developing and implementing branding strategies for CBD Biotechnology's CBD Magic Hemp Series skin care line in China. With over 20 years' experience in the industry, Tang was highlighted in the book entitled Shanghai Beauty 26 as a leading influencer in Shanghai's beauty culture. Ms. Tang served as the CEO of L.D. Waxson Group's China Division until it was acquired in 2012 by India's third largest software services provider, Wipro Limited, for $144 million. L.D. Waxson, a leading skin care company with manufacturing facilities in China and Malaysia, and a strong footprint in Singapore, Malaysia, China, Taiwan, Hong Kong and Thailand, reported revenues of approximately $68m prior to its acquisition in 2012. It's portfolio of brands included the skin care lines Bioessence and Ginvera, and Ebene, a popular healthcare brand."
"With over twenty years of marketing and branding experience in the skin care and cosmetics industry, I believe CBD Biotechnology is extremely fortunate to be working with Ms. Tang," says Yun. "Ms. Tang's concept of 'Beauty Derives from Nature and Creation' aligns with CBD Biotechnology's vision to develop an innovative, natural skin care band. Moreover, Ms. Tang has proven success in the industry in this region. Through her efforts, we are confident that CBD Biotechnology will position itself to become a leader in China's skin care industry."
In September 2017, CBD Biotechnology completed the filing process with the China Food & Drug Administration for its first three products in the CBD Magic Hemp Series line, namely the CBDBIO TECH Brightening and Refreshing Moisturizer, the CBDBIO TECH Perfecting Shield Primer, and the CBDBIO TECH Peptide Collagen Solution, which are expected to be formally launched this month. The CBD Magic Hemp Series skin care line will be marketed through multiple sales channels, including online sales, app sales, and third party distribution relationships with online celebrities and market influencers."
Terra Tech Corp. (OTCQX: TRTC) is a vertically integrated cannabis-focused agriculture company. On September 19, 2017, the company announced that it has signed its second Craft Cultivator to grow the Company's proprietary high grade "IVXX" cannabis flowers and oils. The farm, Cultivar Inc., is located in Salinas, California and is approved for up to six acres of cannabis cultivation, to be grown in high tech, climate-controlled greenhouses. This new partnership follows the launch of Terra Tech's "Craft Cultivation" model in May 2017, when the Company signed its first Craft Cultivator, an experienced cannabis cultivator in Honeydew, California.
CV Sciences, Inc. (OTCQB: CVSI) operates two distinct business segments: a drug development division focused on developing and commercializing novel therapeutics utilizing synthetic CBD; and a consumer product division in manufacturing, marketing and selling plant-based CBD products to a range of market sectors. Recently, the company announced that it will be presenting at this year's MicroCap Conference on October 5th in New York City. Joseph Dowling, Chief Financial Officer of CV Sciences, Inc. will be delivering a presentation to attendees providing details about the company's lead drug candidate, CVSI-007, which utilizes synthetically-formulated CBD for the treatment of smokeless tobacco addiction. In addition, Mr. Dowling will discuss the Company's success within its consumer CBD products division, review recent Company highlights and be available for one-on-one meetings.
GW Pharmaceuticals plc (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), for which GW has commenced a rolling NDA submission with the FDA for the treatment of Dravet syndrome and Lennox-Gastaut syndrome. The Company continues to evaluate Epidiolex in additional epilepsy conditions and currently has ongoing Phase 3 clinical trials in Tuberous Sclerosis Complex and Infantile Spasms. On August 07, 2017, the company announced financial results for the third quarter ended 30 June 2017. Revenue for the nine months ended 30 June 2017 was £6.1 million ($7.9 million) compared to £8.6 million for the nine months ended 30 June 2016.
Zynerba Pharmaceuticals Inc (NASDAQ: ZYNE) announced earlier in September positive top line results from an open label exploratory Phase 2 FAB-C (Treatment of Fragile X Syndrome Anxiety and Behavioral Challenges with CBD) clinical trial evaluating ZYN002 cannabidiol (CBD) gel in pediatric and adolescent patients with Fragile X syndrome (FXS). The study successfully met its primary endpoint, achieving a 46% improvement (p<0.0001) in the total score of Anxiety, Depression, and Mood Scale (ADAMS) at week twelve compared to baseline. The FDA has granted Zynerba Orphan Drug designation for the use of CBD as treatment of patients with FXS. Orphan Drug designation is granted to novel drugs that treat a rare disease or condition affecting fewer than 200,000 patients in the U.S., and provides benefits including a seven-year period of U.S. marketing exclusivity upon marketing approval for the designated indication and may provide a rapid path to market authorization.
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