The legalization of cannabis will take a leap during Election Day if California along with four other states decide to allow the use of recreational consumption. Many have fought to pass the laws for medical intentions that may help aid illnesses or symptoms. If California passes the law this November, it could put pressure on other states to legalize the drug as well.
By the end of 2016, the regulated cannabis sector in the U.S. is anticipated to rise over $7 billion if California says yes, as reported by ArcView Market Research and New Frontier. This evaluation is an astounding 26 percent improvement compared to last year, compelled mostly by recreational sales and demand of cannabis. Regulated recreational cannabis sales had surpassed nearly a billion dollars in 2015 compared to $351 million in 2014.
If the medical or recreational cannabis laws were passed, technology platform for cannabis consumers like MassRoots Inc. will be able to utilize this opportunity and begin registering consumers and specific businesses within the state at minimal cost. MassRoots is not associated with the production or sale of cannabis, rather the company is one of the largest and most active technology platforms for cannabis consumers, businesses and activists with over 900,000 registered users.
Canadian licensed producers of medical cannabis, Aphria Inc. and MassRoots had entered into one of the very first international partnerships between two cannabis companies. Under the agreement, MassRoots will assist Aphria to build its brand amongst its Canadian user base. Aphria will reimburse MassRoots a cash fee in dollars for every patient that was referred. “We are thrilled to partner with Aphria to help expand their patient base while opening a new revenue stream for our business,” stated Isaac Dietrich, MassRoots CEO. “As a technology platform, MassRoots is available in every state and country that regulates the production of cannabis and we could not be more excited to have a partner of Aphria’s caliber in the Canadian market.”
“We are confident that the current political climate coupled with increasing demand in regulated cannabis markets presents a tremendous growth opportunity for MassRoots. Going forward, MassRoots will remain focused on introducing new monetization channels within our mobile applications while exploring strategic partnerships to expand our platform’s capabilities.” stated MassRoots CEO Isaac Dietrich.
American Cannabis Company Inc. has a new design and consulting contract with a Canadian firm to produce a cannabis Licensed Producer facility within the provinces of the Atlantic. Creating an indoor facility will be the start of the project. Next, operations related to this project will launch with the cultivation of a substitute crop, and then switch to cannabis production as soon as operational licensing is tenable. Upcoming plans call for the creation of green houses and further indoor development.
United Cannabis Corp. has announced that its joint venture with Jamaica-based Cannabis Research & Development, will commence a trial program in partnership with the Rastafari Studies Centre for Cannabis Research, University of West Indies, Mona, to create protocols for the growth of Ital Standards that in turn be used as a monitor for the processing, cultivation and consumption of marijuana. The Joint Venture’s original task will be to take note and confirm the genetics of the Centre’s preliminary plantings, and to provide an outlook in the development of suitable standards and training approaches for the future.
Insys Therapeutics Inc. focuses on developing and commercializing advanced and innovative drug delivery systems that helps increase the quality of the lives of patients. The company uses its sublingual spray technology along with its ability to able to develop pharmaceutical cannabinoids. Their product pipeline is concentrated on developing medicines that directly address regions of unmet medical necessities, which include pain, opioid dependence, the reversal of opioid-induced respiratory depression, prevention of nausea and vomiting, and ovarian and gastric cancer. Furthermore, its product addresses the substantial unmet needs of severe pediatric epilepsies such as Dravet Syndrome, infantile spasms, and Lennox-Gastaut Syndrome.
Biopharmaceutical company, GW Pharmaceuticals PLC- ADR announced positive results of the second randomized, double-blind, placebo-controlled Phase 3 clinical trial of its medicine, Epidiolex®. Epidiolex handles seizures linked with a rare and severe form of childhood-onset epilepsy, the Lennox-Gastaut syndrome. In this trial, Epidiolex was added to the patient’s current treatment and achieved the primary endpoint for both dose levels with high positive impact. According to the trial, patients taking Epidiolex 20mg/kg a day reached a median reduction in monthly drop seizures of 42 percent compared with a reduction of 17 percent in patients taking placebo and patients taking Epidiolex 10mg/kg a day showed a median reduction in monthly drop seizures of 37 percent compared with a reduction of 17 percent in patients taking placebo.
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