Medical Cannabis Data Shows Strong Sales and Growth

NEW YORK, November 28, 2017 /PRNewswire/ --

According to a research published by Hexa Research, the U.S. medical cannabis market size was valued at USD 5.44 billion in 2016, and is expected to be valued $19.48 billion by 2024. The medical cannabis market is still in stage of development and is expected to grow significantly during the forecast period owing to rising consumer demand. Consumer attitude towards the herb is continuing to shift in a positive direction in part thanks to its medical benefits for Arthritis, Migraine, Cancer and more. In the U.S it's estimated that more than 50 million adults and 3 million children have arthritis. The demand for medical cannabis for arthritis alone is expected to grow at a CAGR of 17.8% over the projected period. Veritas Pharma Inc. (OTC: VRTHF), GW Pharmaceuticals plc (NASDAQ: GWPH), 22nd Century Group Inc. (NYSE: XXII), Cara Therapeutics Inc. (NASDAQ: CARA), Cannabis Sativa, Inc. (OTC: CBDS)

Giadha Aguirre De Carcer, CEO and Founder, New Frontier Data, explained, "The United States constitutes 35% of the global pharmaceutical market, the largest market in the world, and a major driver of the U.S. economy. It is one of many industries that will be impacted by the growth of the legal cannabis market and we are already starting to see that trend in legal medical states where use of key prescription drugs is down by 11%. If cannabis were to be adopted nationally, we would begin to see a trend of patients turning to medical cannabis as a substitute or complement to pharmaceuticals." 

Veritas Pharma Inc. (OTC: VRTHF) also listed on the Canadian Stock Exchange under the Ticker 'VRT'. Just announced breaking news earlier today that, "its research arm, Cannevert Therapeutics Ltd. ("CTL") filed a provisional patent application to US Patent and Trademark Office (the "USPTO") on September 13, 2017 for use of a specific cannabis strain to enhance the actions of opioid analgesics. An acknowledgement letter from the USPTO was received recently which provided a filing number of US 62/558,021 for this application.

Opioids are substances that are derived from the opium poppy plant. They bind to the human body's own opioid receptors to provide pain relief or 'analgesia' for patients with acute or chronic pain when prescribed legally; morphine is an example opioid analgesic. Use of these drugs for a brief time is considered safe for pain management. However, when they are overprescribed and/or frequently misused, they produce a sense of euphoria along with relieving pain. Hence, drug dependence can occur despite using them as prescribed over prolonged periods with the potential of fatal overdose. Opioid overdose contributed to more than 33,000 deaths in 2015 according to US Centers for Disease Control and Prevention. Heroin and fentanyl are the most widely known opioids for their illegal, recreational use, abuse potential and fatal overdoses. Cannabis contains substances called cannabinoids that appear to bind to human body's own cannabinoid receptors to also produce similar effects to those of the body's opioids in mediating analgesia and behavioral effects. However, they do not have the same drug dependence or overdose potential. When cannabinoids and opioids are combined, they appear to augment each other's effects synergistically. Therefore, the combination may allow for opioids to be used at lower doses with fewer side effects for the treatment of pain and related addiction. According Coherent Market Insights*, the global opioids market was approximately USD $17b in 2015 and is forecasted to moderately increase to near USD $26b in 2024. It indicates that legal cannabis is expected to impact the opioids market growth as it gets adopted as a safe alternative pain relieving therapy to opioids and it is increasingly being used to address related addiction. According to the World Drug Report 2016, approximately 17 million people suffered from opioid drug abuse.

Veritas CEO, Dr. Lui Franciosi stated, "We are pleased with Cannevert's latest submission to protect its discovery of a cannabis strain that could potentially reduce the dose and side effects of clinically used opioids while maintaining a good pain relieving effect for patients." Dr. Franciosi goes on to say, "This strain could be also potentially useful in addressing the current fentanyl crisis throughout North America. If we're targeting pain or opioid addiction, we want to deliver a scientifically tested, standardized product that clinicians can rely upon…"

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. On November 21, 2017, the company, along with its US subsidiary Greenwich Biosciences, announced that new results from completed Phase 3 trials of Epidiolex® (cannabidiol or CBD) in Lennox-Gastaut syndrome (LGS) and Dravet syndrome, along with other supportive data, will be presented at the American Epilepsy Society (AES) Annual Meeting, December 1-5, 2017, in Washington D.C. Epidiolex, GW's lead cannabinoid product candidate is a pharmaceutical formulation of purified cannabidiol (CBD), which is in development for the treatment of several rare childhood-onset epilepsy disorders.

22nd Century Group Inc. (NYSE: XXII) is a plant biotechnology company focused on genetic engineering and plant breeding which allows the increase or decrease of the level of nicotine in tobacco plants and the level of cannabinoids in cannabis/hemp plants. The Company's primary mission in cannabis is to develop proprietary hemp/cannabis strains for important new medicines and agricultural crops. n September 2014, 22nd Century's wholly-owned subsidiary, Botanical Genetics, LLC, entered into a worldwide license agreement with Anandia Laboratories Inc. Under the terms of the agreement, our Company was granted an exclusive sublicense in the United States and a co-exclusive sublicense in the remainder of the world, excluding Canada, to patents and patent applications relating to the cannabis plant that are required for the production of cannabinoids, the major active ingredients in the cannabis plant. The Anandia sublicense continues through the life of the last to expire patent, which is expected to be 2035.

Cara Therapeutics Inc. (NASDAQ: CARA) is a clinical-stage biopharmaceutical company focused on developing and commercializing new chemical entities designed to alleviate pain and pruritus by selectively targeting peripheral kappa opioid receptors. Cara is developing lead molecules that selectively modulate peripheral CB receptors without targeting CNS cannabinoid receptors.  Cara's most advanced CB compound, CR701, is in preclinical development. Dr. Joseph Stauffer CMO Cara Therapeutics: "Cannabinoid Receptor Agonists like CR701 have the potential to provide improved pain relief for patients suffering from neuropathic pain."

Cannabis Sativa, Inc. (OTCQB: CBDS) is engaged in the licensing of cannabis related intellectual property, marketing and branding for cannabis based products and services, operation of cannabis related technology services, and ancillary business activities. On August 2, 2017, the company announced that it has acquired a controlling interest in PrestoCorp, an online telemedicine platform providing access to knowledgeable physicians for a safe and confidential way to get a medical marijuana recommendation using secure video conferencing technology. Appointments through PrestoDoctor's website are generally completed in 10-15 minutes, and can be scheduled and completed in the same day. This convenience eliminates the need for patients to travel to an in-person appointment or wait in line at a clinic.

Subscribe Now! Watch us report from NYSE https://www.youtube.com/FinancialBuzzMedia

Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz

Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz

Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/

About FinancialBuzz.com 

FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the 'Site') is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. Financialbuzz.com has not been compensated directly by any of the companies mentioned here in this editorial. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions, recommendations or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For this release, FinancialBuzz.com has been compensated five thousand dollars for financial news dissemination and pr services by a non-affiliate third party for veritas pharma inc. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use. Please visit: http://www.financialbuzz.com.

Media Contact:
info@financialbuzz.com
+1-877-601-1879

Url: http://www.FinancialBuzz.com

SOURCE FinancialBuzz.com