PALM BEACH, Fla., Sept. 30, 2020 /PRNewswire/ -- Medical grade CBD products market is poised for significant increase in revenues for the next several years. It seems that every new industry report has higher projections that the earlier reports. Data Bridge Markets Research itself has proffered some of these reports. One such report on CBD Oil extracts said that the CBD oil extract market is expected to gain market growth in the forecast period of 2020 to 2027 projecting that the market will rise to USD 25.57 billion by 2027 growing at a CAGR of 21.0% in the above-mentioned forecast period. It stated that the growing awareness amongst the patients regarding the benefits of CBD oil will help in driving the growth of the market. Another report from Data Bridge addressing the global CBD oil market itself, said that CBD oil market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with a CAGR of 38.4% in the forecast period of 2020 to 2027 and expected to reach USD 27,939,481.97 million by 2027. Mentioned in today's commentary include: Tilray, Inc. (NASDAQ: TLRY), Rapid Therapeutic Science Laboratories, Inc. (OTCPK: RTSL), Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON), Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI), Aleafia Health Inc. (TSX: AH) (OTCQX: ALEAF).
Data Bridge added this about the global CBD extract market saying: "Legalization of cannabis-based CBD products, rising preferences of oil and tinctures extracted from cannabis, adoption of CBD-based products in various medical treatments, growing retail sector will likely to enhance the growth of the CBD oil extract market in the forecast period of 2020-2027. On the other hand, growing number of research activities for the growing number of benefits along with government approvals will further boost various opportunities that will lead to the growth of the CBD oil extract market in the above mentioned forecast period.
Rapid Therapeutic Science Laboratories, Inc. (OTCPK: RTSL) Breaking News: Rapid Therapeutic Enters Letter of Intent to Expand Production Capability to 3,000,000 MDI and $100,000,000 in Revenue Annually - Rapid Therapeutic Science Laboratories (the "Company" or "RTSL"), a SEC fully-reporting, growth-oriented aerosol manufacturing and marketing company focused on employing FDA-approved Metered Dose Inhaler (MDI) technology to deliver cannabinoid compounds, such as CBD, CBG, and CBN, announces it has signed a letter of intent (LOI) to acquire all of the assets of Razor Jacket, LLC based in Hillsboro, Oregon in a cash and stock transaction.
Razor Jacket currently supplies medical grade CBD and CBG Isolate to RTSL. These isolates are the active ingredient in RTSL's base formulas. An "isolate" is the ultra-pure form of any single cannabinoid, having no other chemical ingredients. This vertical acquisition assures RTSL of access to up to 150 kilograms a month of 99.9% pure isolate. Any isolate not consumed in RTSL' primary products will be marketed as medical or pharmaceutical grade isolate directly to the health and wellness space. Without adding any additional capital, the lab can make sufficient production to assure RTSL can make in excess of 3,000,000 MDI units annually. Further, the acquisition will reduce RTSL's cost of goods sold by approximately 50% per MDI unit.
RTSL's CEO Donal R. Schmidt, Jr. states "there are a lot of manufacturers in the market who make fairly good isolate, but not good enough to use in the pulmonary route of administration. Razor Jacket's highly customized state-of-the-art lab, which we are relocating to north Texas, is unrivaled and parts of its GMP which is unique in the isolate arena is going to be patented by RTSL as part of the trade. We also inherit a formidable marketing and scientific team with deep and important ties to the pharmaceutical space who are also relocating fulltime to Dallas. This broadens our footprint and moves us closer to our ultimate goal of having a full cGMP facility and ultimately FDA approved products. Plus by controlling our own isolate manufacturing we significantly improve the time previously spent on quality control related to sourcing of finished product. It is a real cost saver to us.
RTSL's Sr. VP, Sean Berrier, states "we formally tested over 70 other isolate manufacturers' CBD the last two (2) years. No one else's product was even close in quality. We essentially vetted everyone in the market. Razor Jacket's product is far superior to everyone else's in my opinion. Bringing them on board a real advantage in this space."
Razor Jacket's CEO Ryan Johnson, states "we look forward to relocating to Dallas. The aerosol space is a perfect fit for the medical grade isolate we have been producing. Our unique relationship with major pharmaceutical players gives us a strategic advantage in how to make medical grade products as well as position the company for a potential buyout from big pharma."
Schmidt also states. "Ryan Johnson will head up Marketing for RTSL and sit on the board of RTSL under a designation of board rights. I am looking forward to working with someone of his caliber in sales and marketing." Read the full Press Release and more for RTSL at: https://www.financialnewsmedia.com/news-rtsl
In other active company news in the markets this week:
Tilray, Inc. (NASDAQ: TLRY), a global leader in cannabis research, cultivation, production, and distribution, recently announced that Australian researchers have published preliminary results finding that one of the company's GMP-produced products is showing promise reducing nausea and vomiting for cancer patients undergoing chemotherapy in a world's first clinical trial.
Results published in Annals of Oncology found a significant improvement in the control of chemotherapy-induced nausea and vomiting. A quarter of the patients taking medicinal cannabis experienced no vomiting and nausea, compared to 14 percent of people who took a placebo. The pilot phase of the study ran for two-and-a-half years with 81 participants enrolled. To be included in the study, patients had to have already experienced nausea and vomiting during chemotherapy despite having taken nausea prevention medication.
Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI), the parent company of Organigram Inc., a leading licensed producer of cannabis, recently announced it has partnered with Medical Cannabis by Shoppers™ ("Shoppers") on Phase 2 of Shoppers' Pilot Program powered by software partner TruTrace Technologies Inc. (CSE: TTT) (OTCQB: TTTSF) ("TruTrace").
The program is designed to genetically finger-print all participating cannabis products, tracking them throughout the supply chain, from genome to patient, in order to provide real-time information about the composition of each cannabis product used by Medical Cannabis by Shoppers customers. Organigram will provide cannabis products to Shoppers for use in the tracking program. Standardized and validated testing of medical cannabis, ensuring consistent quality and efficacy, are critical to the product's value as a viable treatment option. Likewise, product information such as strain composition and potency can help healthcare practitioners and patients make more informed and confident decisions about their medical cannabis treatment regimens.
Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) recently announced that on September 15, 2020, the Company was recognized by the Toronto Stock Exchange as the third top-performing company on the Toronto Stock Exchange's 2020 TSX30 list, a flagship program recognizing the 30 top-performing TSX stocks over a three-year period based on dividend-adjusted share price appreciation.
"Cronos Group's recognition by the TSX30 initiative is a welcomed acknowledgment of all the hard work we have put into building Cronos Group over the past three years," said Mike Gorenstein, Executive Chairman, Cronos Group. "We're looking forward to continuing to build and create long-term value for our shareholders by focusing our efforts on R&D, innovation and creating quality products."
Aleafia Health Inc. (TSX: AH) (OTCQX: ALEAF) recently announced the launch and release of 510 vape cartridges which represent the Company's first Cannabis 2.0 product format in market. "This is an important milestone which represents just the first step in our entering the adult-use market in a meaningful way, while strengthening our expanding medical cannabis market share. We look forward to an exciting sequence of product launches in the months ahead, as we continue to bring new innovative formats to market, while expanding our core portfolio," said Aleafia Health CEO Geoffrey Benic.
Expanded Product Portfolio Highlights included: 510 Vape Cartridges: Sold under the Symbl™ adult-use and Emblem™ medical brands, the vapes are inspired by Aleafia Health's signature cultivars. The custom-made, unique terpene blends deliver robust flavours and consistent effects. They contain CO2-extracted distillate mixed with a custom blend of botanically sourced terpenes. No fillers or artificial flavours are used, offering consumers and patients an authentic experience; Sublingual Strips: Full production and packaging of the first production lot of cannabis-infused sublingual strips is underway, with a near-term launch expected. Featuring a rapid onset time and novel form factor, the sublingual strips offer patients and consumers a discreet, consistent experience; Confectionary Edibles: Initial production of confectionary edibles has also begun at the Company's Paris Facility following extensive research & development.
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