Global Market for Cannabinoid-Based Pharmaceuticals Expected to Reach $50 Billion by 2029

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Dec 03, 2020, 08:45 ET

PALM BEACH, Fla., Dec. 3, 2020 /PRNewswire/ -- The medical segment of the cannabis explosion over the last decade, has not always been in the forefront… but its day is coming. The revenues from cannabinoid-based pharmaceuticals is projected to rise over the next several years. Cannabis – also known as marijuana – contains active ingredients called cannabinoids. Cannabinoids are compounds found in the cannabis plant. The most well-known cannabinoids are cannabidiol (CBD) and tetrahydrocannabinol (THC). However, there are over 200 known cannabinoids, including rare cannabinoids like cannabigerol (CBG), cannabinol (CBN), tetrahydrocannabivarin (THCV), and more. These rare cannabinoids are even more potent in their medical benefits than CBD and don't contain the psychoactive properties of THC. Clinical trials to test the effects of cannabis-based drugs are ongoing, but potential treatments have already been identified for cancer pain, glaucoma, and epilepsy, which will help the cannabinoid-based pharmaceuticals market to grow. Statista reports that: "On the assumption that the federal prohibition on cannabis ends by 2020, the value of the consumer market for cannabinoid-based pharmaceuticals in the United States is forecast to grow to 25 billion U.S. dollars in 2025 and be worth 50 billion U.S. dollars in 2029." Active Companies active today in the cannabis related markets include: Tilray, Inc. (NASDAQ: TLRY), Rapid Therapeutic Science Laboratories, Inc. (OTC: RTSL), Aphria Inc. (NASDAQ: APHA) (TSX: APHA), Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON), KushCo Holdings, Inc. (OTCQX: KSHB).

A report from Drug Topics added that: "These rare cannabinoids are an inexpensive and natural way to work with your body… Early studies are showing the efficacy of cannabinoids against a large variety of indications. There have been over 50 clinical trials on cannabinoids, which have provided a significant amount of data on their health benefits. For example, preclinical and clinical studies have suggested a potential value for CBD in some neuropsychiatric disorders, including epilepsy, anxiety and schizophrenia. That's just the tip of the iceberg of the types of benefits that cannabinoids have been shown to provide… Cannabinoid-based pharmaceuticals will overtake the market as rare cannabinoids become cheaper and more plentiful." It continued: "There are new medical treatments that rare cannabinoids will create. Rare cannabinoids like CBG/CBGA, CBN/CBNA, THCV/THCVA, and THCA all have significant evidence of major health benefits. For example, there have been many clinical trials on CBG/CBGA indicating its potential to help fight inflammation, pain, and nausea."

Rapid Therapeutic Science Laboratories, Inc. (OTCPK: RTSL) Breaking News: Rapid Therapeutic Selects Clinical Research Center to Start Clinical Trials Using its Proprietary CBD and CBG Formulation - 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, announced today that it has selected Accent Clinical Research Professionals, LLC ) ("ACCENT") of Allen, Texas to administer RTSL' first round of human research of its proprietary CBD and CBG blended MDI. RTSL expects to sign the formal agreement by December 31, 2020.

ACCENT is a clinical research center, specializing in Phase I-IV pharmaceutical and device studies dedicated to providing high quality and reliable research data to sponsors striving to advance today's medicine while rigorously maintain the safety of patients. The principal investigator of the MDI for the clinical trials is Dr. Neal C. Lawrence, M.D. and Dr. Charles L. Powell, M.D. will be the medical advisor to RTSL.

RTSL's CEO, Donal R. Schmidt, Jr. states, "Our decision to go with Accent (www.amrprofessionals.com) and the two physicians we chose was quite simple. Accent is known for quality and integrity which has made them a preferred provider for some of the largest pharmaceutical companies. In addition, both physicians are active in research and thoroughly believe in the long-term potential of cannabinoids for use in conjunction with modern treatment modalities. And finally, this team gives RTSL access to a patient pool of over 150,000 trial candidates in the DFW Metroplex with more than ten (10) years of medical data per disease indication.

We intend to run an eight (8) leg study looking at support for anxiety, chronic pain, ADHD, inflammation (this will include COVID-19 pulmonary rehabilitation and recovery), arthritis, insomnia, and depression. We are also discussing testing on "long-haul" Covid-19 recovery patients as well. Each study will have 50 volunteer patients with significant documented disease histories going back more than a decade. The initial protocols will focus on both objective and subjective results which will then be further narrowed for the next round of testing. Eventually, we will narrow our focus to normalize dosage relative to blood plasma levels of each cannabinoid or blend thereof." 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 leading company in the manufacture, research and distribution of medical cannabis, recently announced that it has entered into a co-promotion agreement with Hormosan for its full-spectrum cannabis extracts in Germany effective 1 January 2021.

Hormosan is primarily focused on pain therapy and neurology and is part of the Lupin Group, an international entity that sells innovative drugs and generics. Hormosan will support Tilray in its marketing and sales activities of full spectrum cannabis extract in Germany. Through this strategic partnership, the expertise of both Tilray and Hormosan will be leveraged to expand Tilray's presence in the German market.

Aphria Inc. (NASDAQ: APHA) (TSX: APHA), a leading global cannabis company inspiring and empowering the worldwide community to live their very best life, recently announced it has closed the accretive, strategic acquisition (the "Acquisition") of SW Brewing Company, LLC ("SweetWater Brewing Company" or "SweetWater"), one of the largest independent craft brewers in the United States ("U.S.") based on volume. Beginning with the flagship 420 beverage offerings, SweetWater has created an award-winning lineup of year-round, seasonal and specialty beers, a portfolio of brands closely aligned with a cannabis lifestyle.

"We are excited to take this significant step forward to build upon our existing foundation in cannabis with the acquisition of SweetWater and their complementary cannabis lifestyle brands. Together, our company will further diversify our product offering, broaden our consumer reach and enhance loyalty with consumers," commented Irwin D. Simon, Aphria Inc.'s Chairman and Chief Executive Officer. "We are very pleased to welcome Freddy Bensch to our management team and the entire SweetWater organization to the Aphria family. We look forward to expanding our addressable market and leveraging SweetWater's existing infrastructure to accelerate Aphria's entry into the U.S. ahead of federal legalization of cannabis to fuel sustainable profitable growth."

Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) recently announced its 2020 third quarter business results. "The opportunities before Cronos Group are more exciting than ever and I am honored to have brought the company to this important inflection point as we bring on Kurt Schmidt to serve as our new President and CEO," said Mike Gorenstein, Executive Chairman of Cronos Group. "We look forward to continuing to launch innovative cannabinoid products in Canada and to expand our portfolio of U.S. hemp-derived CBD brands. Internationally, we're pleased with the progress we have made in Israel and as regulations continue to evolve, we will look to establish ourselves as a leader in the markets in which we operate."

"In such a short period of time, Mike and the Cronos team have achieved several impressive milestones," said Kurt Schmidt, President and CEO of Cronos Group. "From being the first pure-play cannabis company to list on the NASDAQ, to scaling operations worldwide, Cronos Group is well-positioned to continue to thrive. Joining as President and CEO is a unique opportunity for me to bring my expertise in building outstanding brands, high performance teams and results-driven organizations to Cronos Group. I look forward to helping this Company achieve many more exciting milestones." Net revenue of $11.4 million in Q3 2020 increased by $5.6 million from Q3 2019. The increase year-over-year was primarily driven by continued growth in the adult-use Canadian cannabis market, the inclusion of the Redwood acquisition in our financial results and growth in the Israeli medical cannabis market, partially offset by non-recurring wholesale revenue in the Canadian market in Q3 2019 and strategic price reductions on various adult-use cannabis products in certain Canadian provinces in Q3 2020.

KushCo Holdings, Inc. (OTCQX:KSHB), a premier provider of ancillary products and services to the legal cannabis and CBD industries, recently has teamed up with United Pacific, one of the largest independent owners and operators of gas stations and convenience stores in the Western United States, with more than 350 locations across California, Nevada, Oregon, Washington, and Colorado.

Since 1955, United Pacific has been offering motor fuels products under the 76, Conoco, Shell and United Oilbrands, and convenience items through the We Got It! Food Mart, My Goods Market, and Circle K brands. KushCo will work with United Pacific to curate customized "CBD Wellness Centers" across 350 United Pacific locations. Each wellness center will feature custom displays provided by the brands and designed by KushCo.

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