The medicinal market within the overarching and extremely active cannabis industry has long been dominated by medicinal products based in cannabidiol, or CBD. CBD medicines have leveraged a compound from cannabis that does not create a high, but it is believed to have a wide variety of health benefits, including fighting inflammation and other everyday ailments. Greenwave Advisors estimates the CBD market as a whole could reach $3 billion in the United States within three years. Industry specialists believe that CBD could outstrip the rest of the cannabis sector in size in the next few years as a wide variety of end-use product potential is helping CBD based products gain mainstream use and global acceptance. Active cannabis companies in the markets this week include Earth Science Tech, Inc. (OTC:ETST), Canopy Growth Corporation (NYSE:CGC) (TSX:WEED), Tilray Inc. (NASDAQ:TLRY), Aurora Cannabis Inc. (NYSE:ACB) (TSX:ACB), MedMen Enterprises Inc. (CSE:MMEN) (OTC:MMNFF).
Earth Science Tech, Inc. (OTCQB: ETST) BREAKING NEWS : Earth Science Tech, an innovative biotech company focused on the cannabidiol (CBD), nutraceutical and pharmaceutical fields, medical devices, and research and development, today announces that the new genuine CBD/Propovit throat spray formula developed through a strategic partnership with Bionatus is nearly market-ready.
As previously announced, ETST collaborated with Bionatus to improve the Propovit throat spray. The result is a new strawberry-flavored formulation enriched with ETST full-spectrum cannabinoids derived from industrial hemp.
Dr. Michel Aube, ETST's CEO and chief science officer states, "We are very excited to see this project in the final stage. We have developed a product that we believe will have properties not found in any other product on the market, and we thank our team and our partner Bionatus for their diligence and innovation on this formulation. "
The main active ingredient in Propovit is propolis, a compound derived from the Brazilian green bee and packed with strong antioxidants as well as potent anti-bacterial, anti-viral, anti-fungal and anti-inflammatory properties. The new formulation combines the effect of Propovit and ETST's cannabinoids to help diminish the symptoms of throat infections via fine drops that spread the hemp oil widely onto the oromucosal part of the mouth.
ETST also plans to conduct clinical trials on the genuine CBD/Propovit formula to measure the combined effects of these two powerful components on throat infections. Read this and more news for ETST athttps://www.financialnewsmedia.com/news-etst
Other recent developments in the cannabis industry include:
Canopy Growth Corporation (NYSE:CGC) (TSX:WEED) on Thursday announced it has finalized an all-cash transaction to acquire Storz & Bickel GmbH & Co. KG, related entities, and IP (collectively, "Storz & Bickel" or "S&B") for a purchase price of up to approximately €145 million. With a 22-year track record of breakthrough innovations, Storz & Bickel is widely recognized as the global leader in vaporizer design and manufacturing. Based in Tuttlingen, Germany, Storz & Bickel are designers and manufacturers of medically approved vaporizers, most notably the Volcano® Medic and the Mighty® Medic. Storz & Bickel has spent the last two decades developing an automated and internationally certified factory, achieving ISO 13485 certification in 2009. The company has exported devices to 50 markets around the world.
Tilray Inc. (NASDAQ:TLRY) earlier this week announced it partnered with researchers at the Lambert Initiative for Cannabinoid Therapeutics at the University of Sydney to complete a study examining the effects of cannabis on driving and cognitive function. "The Effects of Medicinal Cannabinoids on Driving" study was a double blind, placebo-controlled study that compared the effects of two varieties of cannabis - a variety containing high levels of THC and a variety containing a 1:1 balanced ratio of THC:CBD - to a placebo, which contained neither THC nor CBD. Tilray supplied the cannabis varieties for the study from its Good Manufacturing Practices (GMP) certified facility in Nanaimo, British Columbia. "We studied the extent to which cannabis affects driving and specifically, whether CBD moderates the effects of THC," says Thomas Arkell, a Lambert Initiative researcher, who oversaw the trial. "The two main objectives of the six-month study were to characterise and understand how vaporized cannabis effects people's driving and to establish whether there are differences in the effects of cannabis containing either high THC and very little CBD or a 1:1 balanced ratio of THC and CBD".
Aurora Cannabis Inc. (NYSE:ACB) (TSX:ACB) on Thursday announced that the company, through its wholly owned subsidiary Aurora Europe GmbH, has been selected by the Luxembourg Health Ministry for the supply of medical cannabis to that country and an initial purchase order for approximately 20 kilograms has been received. The Company has received all required authorizations (import and export licenses) and has commenced its first shipment of high-grade medical cannabis to Luxembourg's Division de la Pharmacie et des Medicaments, representing the second time the Company has received an order directly from a European government. "To our knowledge, Aurora is the first medical cannabis producer selected by the Luxembourg Health Ministry to supply dried cannabis flower," said Neil Belot, Chief Global Business Development Officer.
MedMen Enterprises Inc. (CSE:MMEN.CN) (OTCQX:MMNFF) recently announced it has closed the acquisition process of Omaha Management Services, LLC's Monarch Dispensary. Omaha Management Services, a subsidiary of WhiteStar Solutions LLC, operated the Monarch Dispensary which happened to be the first cannabis dispensary of its kind in Scottsdale, Arizona. According to the terms of the agreement, MedMen will assume possession of Whitestar's co-manufacturing and licensing agreement with "Kiva, Mirth Provisions and HUXTON for the state of Arizona." The Monarch Dispensary which held a cannabis license issued by the state of Arizona and operated a cannabis cultivation and processing facility will be instrumental in introducing MedMen into the lucrative cannabis market. The acquisition deal was settled in 80% equity and 20% cash.
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