Last month, the United States Drug Enforcement Administration (DEA) placed Epidiolex, a proprietary oral solution of pure plant-derived cannabidiol (CBD), as a Schedule V drug of the Controlled Substances Act (CSA). This new placement is the least restrictive schedule of the CSA and much less restrictive than CBD’s Schedule 1 classification.
Epidiolex’s recent approval from the Food and Drug Administration (FDA) permits GW Pharma (GWPH) to now market its CBD drug to the masses. This is the first FDA-approved drug that contains a purified drug substance derived from marijuana, another historic milestone recently reached for the marijuana industry.
This move by the DEA takes a general glance at how the FDA is operating, placing “certain drug products that have been approved by the (FDA) and which contain (CBD) in schedule V of the Controlled Substances Act (CSA),” according to the DEA order. Although, Epidiolex is currently the only drug that meets the aforementioned criteria, numerous other companies in the space may be hopeful to the idea that these restrictions will diminish in the future. This news has recently generated increased investor attention to several marijuana stocks.
Integrated Cannabis Company (ICNAF) (ICAN) develops, manufactures, and distributes botanically-based consumable products in Canada and internationally, offering hemp-based CBD nutraceutical infused products under the X-SPRAYS brand and a THC-infused spray product. The company has a distribution agreement with Empower Clinics, throughout 15 of its locations in the U.S and completed a letter of agreement for collaboration on X-SPRAYS products with Canadian-licensed producer GTEC Holdings Ltd. (GTEC) (GGTTF) for the Canadian medicinal and recreational markets.
Most recently, the company announced the successful completion and positive results of a controlled trial of its proprietary sleep product, resulting in improvement in patients’ sleep patterns combined with the unexpected, but highly desirable, decrease in the level of pain. The positive results published in the peer reviewed journal, International Journal of Pharmacy and Life.
New Age Beverage (NBEV) is an organic and natural healthy functional beverage company intending to become the world’s leading healthy beverage company. Earlier this week, the company unveiled its portfolio of CBD-infused beverages at the North American Convenience Store held at the Las Vegas Convention Center on October 8, 2018.
The company has been in talks regarding pre-orders and is lining up retailers seeking to be first to retail the products in states where they are legal, according to Bloomberg. The intended national launch with major retailers and distributors will be as soon as the Farm Bill is enacted, utilizing the company’s existing national distribution footprint.
Michael Cunningham, SVP of sales commented, “The demand and interest for these products is unlike I have ever seen in my career. Customers loved the taste of New Age’s CBD-infused products and many of them committed to bring in the products for sale.
India Globalization Capital, Inc. (IGC) has two lines of business, a legacy infrastructure business and a medical cannabis business that has developed its flagship product for Alzheimer’s patients. The company announced yesterday the filing of a provisional method and composition patent application (IGC-509) on October 4, 2018 with the U.S. Patent and Trademark Office for the treatment of fatigue and energy restoration. This patent filing is part of a series of steps in the development and commercialization plan to create a branded, hemp/CBD sugar-free energy drink.
This news followed the previously announced distribution and partnership agreement for several products including a sugar free, energy drink called ‘Nitro G’ and intention to create a branded, hemp/CBD-infused version of the formulation that addresses market demand for energy drinks with the inclusion of healthy properties derived from hemp including CBD.
“According to a Grand View Research forecast, the global energy drinks market is projected to be almost $85 billion by the year 2025, with non-alcoholic beverage sales expected to account for a significant portion of the market. This represents a unique opportunity for the development and commercialization of a CBD-infused, sugar free energy beverage,” said Ram Mukunda, CEO.
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