PALM BEACH, Florida, September 13, 2018 /PRNewswire/ --MarketNewsUpdates.com News Commentary
The massive impact of CBD on the healthcare product industry continues to be widely apparent as consumers increasingly show a preference for alternative methods of medicine. A new report by the Brightfield Group estimates the CBD market is growing at a faster rate than anticipated. The market is projected to reach sales of $22 Billion by 2022, with growth happening as the result of increased investment, the evolution of distribution channels and other factors. As the market continues to grow, mainstream retailers will be eyeing federal deregulation in order to get a piece of this lucrative pie. Active companies in the Cannabis markets this week include Cannabis Strategic Ventures, Inc. (OTC:NUGS), Sugarmade, Inc. (OTCPK:SGMD), Pyramidion Technology Group, Inc. (OTCPK:PYTG), Tilray Inc. (NASDAQ:TLRY), GW Pharmaceuticals plc (NASDAQ:GWPH).
Cannabis Strategic Ventures, Inc. (OTCPK:NUGS) BREAKING NEWS: Cannabis Strategic Ventures is pleased to announce a joint venture agreement with True Promise Beauty to develop a new skincare line infused with cannabidiols (CBD). Under the terms of the agreement, Cannabis Strategic Ventures will have access to True Promise Beauty's proprietary hemp derived CBD infused formulas and products and access to established distribution channels.
"The True Promise Beauty partnership provides Cannabis Strategic Ventures deep beauty industry knowledge and a robust distribution network to compete in the bourgeoning CBD beauty industry," commented Simon Yu, CEO of Cannabis Strategic.
The True Promise Beauty team is led by Gail Johnson, Principal; an Emmy Nominated makeup artist, and a team of chemists with proven track records for producing skincare products that have been featured on The Ellen DeGeneres Show, Good Day LA, the LA Times, and multiple other news outlets.
The agreement between the companies calls for the True Promise Beauty team to develop a proprietary CBD skincare line as part of Cannabis Strategic Ventures brand portfolio, with initial distribution targeting existing distribution networks in the United States.
Yu added, "We are excited to welcome Gail and the True Promise Beauty to the Cannabis Strategic Ventures portfolio and look forward to combining our expertise and resources in the cannabis and beauty industries to create industry leading CBD Skincare products."
The infusion of Cannabidiol better known as CBD, has been recognized as one of the many compounds specifically found in the Hemp and Cannabis plant to help fight inflammation and reduce sebum production in the skin. It is believed that Hemp-derived CBD, unlike THC, does not give the user a "high" feeling but more provides therapeutic effects for psoriasis, atopic dermatitis and eczema. According to recent estimates from the Grand View Research Group, the skincare market is projected to grow to a $177 billion market by 2024; while research firm Brightfield Group projects the CBD market to hit $1 billion in the next three years. Read this and more news for Cannabis Strategic Ventures at: http://www.marketnewsupdates.com/news/nugs.html
Other recent developments and major influences in the cannabis industry include:
Sugarmade, Inc. (OTCPK:SGMD), one of the largest publicly traded hydroponics supply companies, yesterday announced SeeThruEquity has initiated coverage on the Company with a price target of $0.30, with the reporting adding, "Sugarmade appears well-positioned to target the large and growing opportunity to supply hydroponics equipment and supplies to the legal cultivation market in the United States through its master marketing agreement with BizRight." Jimmy Chan, CEO of Sugarmade commented, "Having Sugarmade highlighted by SeeThruEquity is important to this management team. Over the past two years, Sugarmade has almost completely restructured. We have entered one of the fast growing sectors of the American economy, reduced debt levels, added a significant number of personnel, moved our headquarters, and most importantly, positioned our Company for substantial growth. Based on our growth rates, we now believe our $30 million revenue guidance for next year is very conservative. We welcome SeeThruEquity's research coverage and look forward to supplying its analyst a steady stream of news on high quality developments regarding our progress.
Pyramidion Technology Group, Inc. (OTCPK:PYTG) yesterday announced that Dr. David M. Feldbaum MD, Fellow, American College of Surgeons (FACS), has been appointed to the Board of Advisors for PYTG. David M. Feldbaum MD, FACS is certified in vascular surgery by the American Board of Surgery. Dr. Feldbaum completed a surgical residency at Montefiore Medical Center/Albert Einstein College of Medicine in New York City, and a vascular surgery fellowship at the Carolinas Heart Institute in North Carolina. He is affiliated with the Memorial Healthcare System, and Westside Regional Medical Center. He is also a member of the voluntary faculty clinical instructor of surgery at the University of Miami School of Medicine. Dr. Feldbaum's presence on the Board of Advisors seeks to bolster its already credential-filled advisory capacity by offering instrumental input on the implementation of whole-care wellness plans, and specific case-relevant treatment plans, related to his area of expertise. Dr. Feldbaum has a unique interest in Medical Cannabis affairs and is a strong advocate of the use of Cannabidiol (CBD) products as part of a health and wellness program for many patients.
Tilray Inc. (NASDAQ:TLRY), a global leader in cannabis research, production and distribution, announced this week that Tilray 2:100, a product produced at Tilray's federally licensed, Good Manufacturing Practice (GMP)-certified facility in Canada, was successfully imported into the United Kingdom, to supply a pediatric patient in need. The changing regulatory measures in the United Kingdom (UK) previously prohibited the use of medical cannabis. However, in July 2018, Home Secretary Sajid Javid announced that clinicians will now legally be able to prescribe cannabis-derived medicines to patients with an exceptional clinical need noting "recent cases involving sick children made it clear to me that our position on cannabis-related medicinal products was not satisfactory."
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. The Company, along with its U.S. subsidiary Greenwich Biosciences, announced last month that the U.S. Food and Drug Administration (FDA) has approved EPIDIOLEX® (cannabidiol) oral solution for the treatment of seizures associated with Lennox-Gastaut syndrome (LGS) or Dravet syndrome in patients two years of age or older. EPIDIOLEX is the first prescription pharmaceutical formulation of highly-purified, plant-derived cannabidiol (CBD), a cannabinoid lacking the high associated with marijuana, and the first in a new category of anti-epileptic drugs (AEDs). Product availability is pending rescheduling which is expected to occur within 90 days. LGS and Dravet syndrome, which develop in childhood, are rare, severe forms of epilepsy that are notoriously treatment-resistant. Most patients with LGS and Dravet syndrome require multiple seizure medications and the majority are resistant to currently approved AEDs.
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