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StaffStaffApril 23, 2018
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6min2000

This is your Daily Hit of cannabis news for April 23, 2018:

On The Site:

Maricann & Broken Coast Add More Capacity

Aphria Inc. (APHQF) announced that its subsidiary, Broken Coast Cannabis received a license amendment from Health Canada that provides Broken Coast with an additional 18,000 square feet of production space as part of its Phase III expansion, bringing total production space to 44,000 square feet.

In addition to Broken Coast, Maricann Group Inc. (MRRCF) announced that it received all of the necessary approvals from Health Canada to commence cultivation in Phase One of the company’s new facility in Langton, Ontario, Canada. This is Maricann’s third license issued by Health Canada. Maricann is currently undertaking an expansion of its cultivation and support facilities in Canada in a 942,000 sq. ft.  build out, with a designed expected capacity of producing 95,000 kg (based on conservative estimates) of dry cannabis flower per year to support existing and future patient growth.

Is YouTube Blocking Spanish Cannabis Channels?

For many Spanish-speaking cannabis users, Marihuana Television is their go-to source for all things cannabis. Featuring how-to guides and up-to-date news, Marihuana Television looks like any other mainstream YouTube channel but with cannabis; which is why many were shocked to find that the channel had been deleted with no explanation.

In Other News:

Nutritional High International Inc.

Nutritional High International Inc. (SPLIF) announced that it signed an agreement to purchase California-based Pasa Verde, LLC. a leading cannabis extraction and toll processing facility in Sacramento, California. Pasa Verde operates a 17,600 sq ft extraction facility in Sacramento’s “Green Zone” and was the first operator in Sacramento to receive its Conditional Use Permit. Pasa Verde’s large-scale facility is located in a fully-serviced industrial area and has excellent space and infrastructure to house a significant extraction and marijuana-infused products operation – capable of production volumes suitable for the California market which is expected to reach US$6.5 billion in annual sales by 2020.

Emblem Corp. 

Emblem Corp. (EMMBF) announced that it purchased C$2.5 million of units of Fire & Flower Inc. at a price of C$0.80 per unit as part of a larger unit offering conducted by Fire & Flower. According to the company statement, each unit consists of one common share in the capital of Fire & Flower and one common share purchase warrant entitling the holder thereof to acquire one (1) additional Fire & Flower Share at a price of C$1.05 per share for a period of two (2) years, subject to adjustments in certain events.

General Cannabis Corp.

General Cannabis Corp. (CANN) announced that it completed the closing of a private placement transaction with various private parties, including existing and new investors in General Cannabis. The company issued $5.54 million of senior secured promissory notes and an aggregate of 4,432,000 warrants to purchase common stock at the closing.  The notes bear interest at 8.5% per annum and are secured by all of the Company’s assets.  The warrants have an exercise price of $2.35 per share.  The proceeds of this debt raise will be used primarily to fund the company’s expansion and for working capital.

ABCD Cannabis Data

ABCD, a data-driven media campaign outlet, has released new data which reveals the number of marijuana head and grow shops in 120 cities around the world. This research, which builds on the 2018 Cannabis Price Index released earlier this year, reveals which locations around the world are ready to embrace cannabis legalization.

  • With a total of 156, Los Angeles, USA has the most headshops.
  • Madrid, Spain has the largest amount of grow shops, with a total of 68.
  • Tokyo, Japan has the most expensive cannabis, at 32.66 USD per gram, while Quito, Ecuador has the least expensive marijuana, at 1.34 USD per gram.
  • Based on the average US marijuana tax rates currently implemented, New York City could generate the highest potential tax revenue by legalizing weed, with 156.40 million USD per year. New York City also has the highest consumption rate of cannabis, at 77.44 metric tons per year.

 


William SumnerWilliam SumnerApril 23, 2018
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5min1630

Every day around the world, content is being created and deleted in a never-ending cycle that mirrors our own circle of life. For the most part, the content that gets deleted from social media platforms, such as YouTube or Facebook, gets deleted for good reason. Sometimes the content is illegal or it violates community policy. But then sometimes content gets deleted for the wrong reasons, political reasons.

And when content gets deleted for political purposes, those affected are left crying foul and wondering what is it they did to earn their deletion. One need only look as far as Marihuana Television, a Spanish-language YouTube Channel, to find a perfect example.

For many Spanish-speaking cannabis users, Marihuana Television is their go-to source for all things cannabis. Featuring how-to guides and up-to-date news, Marihuana Television looks like any other mainstream YouTube channel but with cannabis; which is why many were shocked to find that the channel had been deleted with no explanation.

Although cannabis itself is illegal in most of the developed world, cannabis content is not. While you may not be able to purchase a cannabis ad on Facebook or YouTube; you can watch, create and share cannabis contently freely on the internet. On YouTube alone, there are hundreds of thousands of cannabis-centered channels, which is what makes Marihuana Television’s deletion all the more strange.

Typically in order to determine whether or not to ban/delete an account or channel, YouTube uses a strike system. If a user violates YouTube community standards or violates copyright law, the user will get a strike. Just like baseball, it’s three strikes and you’re out; unless it’s a particularly egregious violation, in which case the user is instantly banned.

But by all accounts, Marihuana Television was compliant with YouTube policy. There was no warning and there were no strikes, the channel was simply deleted. The creative minds behind Marihuana Television think the channel’s deletion is part of a wider effort on behalf of YouTube to censor Spanish-language cannabis content on the platform, and in a statement, they issued a fiery condemnation of the site.

“From Marihuana Television we want to denounce cannabis censorship, freedom of expression and information after the closure of our channel. During the last 6 years, our Youtube channel has been a reference of information on the cannabis culture in Spanish,” reads the statement. “Therefore, Marihuana Television will continue to be faithful to its founding principles. We will keep fighting for the right to inform the millions of people throughout the world who use marijuana in a responsible way.”

Although tracking the exact number of cannabis videos and channels that have been unfairly deleted on YouTube is incredibly difficult, if not next to impossible, there is some anecdotal evidence to bolster the claims made by Marihuana Television.

Some Spanish-language cannabis YouTube channels similar to Marihuana Television, such as Growbarato and Lamarihuana.com, have found themselves either deleted or issued strikes from YouTube in recent weeks. Other channels, such as Undergrow TV, have issued their own statements condemning the censorship and some have started petitions asking YouTube to stop their censorship of cannabis-related videos.

Although the path forward for the people behind Marihuana Television is not entirely clear, the group is currently considering taking legal action if possible. For the time being, however, Marihuana Television will continue creating content, only this time it will be shared on Vimeo instead of YouTube.


Debra BorchardtDebra BorchardtApril 23, 2018
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6min3490

Aphria Inc. (APHQF) announced that its subsidiary, Broken Coast Cannabis received a license amendment from Health Canada that provides Broken Coast with an additional 18,000 square feet of production space as part of its Phase III expansion, bringing total production space to 44,000 square feet. As a result of the amendment, Broken Coast’s production capacity will nearly double to 4,500 kg annually.

“We’re pleased to receive Health Canada approval on our Phase III expansion, which will enable us to quickly ramp up production of our small-batch, premium, high-quality B.C. bud,” said John Moeller, Co-founder and President of Broken Coast. “We expect the first crop cultivated and produced at the expansion to be available for sale by the end of July.” Vic Neufeld, CEO of Aphria added, “This is an important milestone for Broken Coast and for Aphria as we continue to bring online more capacity to meet the anticipated demand in the Canadian market.”

In addition to Broken Coast, Maricann Group Inc. (MRRCF) announced that it received all of the necessary approvals from Health Canada to commence cultivation in Phase One of the company’s new facility in Langton, Ontario, Canada. This is Maricann’s third license issued by Health Canada. Maricann is currently undertaking an expansion of its cultivation and support facilities in Canada in a 942,000 sq. ft.  build out, with a designed expected capacity of producing 95,000 kg (based on conservative estimates) of dry cannabis flower per year to support existing and future patient growth.

Kris Krane of 4Front Ventures worries that it is too much cannabis being grown for the market. “There’s a ton of capacity being built, but the Canadian market will only be so big and the international market they are banking on is an unknown,” Krane noted that Canada is a terrible place for large-scale cultivation. “There is not a lot of sun and labor costs are high,” he added.

The big argument for these massive expansions is that Canada will be legalizing adult-use marijuana and sales are expected to begin later in 2018. Krane points out that Canada’s entire population is roughly 36 million, which is smaller than the state of California. The California marijuana market is estimated to be $5 billion by 2019 according to BDS Analytics, but Canada is pricing these companies and their expansions as if the market will be larger.

This is why many of these companies crowing about enormous cultivation facilities are courting foreign countries for their product. Krane though believes that relationship won’t last. “The European markets will eventually buy their cannabis from countries like the Balkans, Turkey or even North Africa,” said Krane.  He thinks these companies may make money in the short term, but in the long term, he doesn’t think its sustainable.

Krane even believes that ultimately cannabis will end up being grown in Latin American countries where other commodities are grown due to the abundance of sun and cheap labor. That’s assuming countries allow imported cannabis. “I still believe Columbia or Mexico will embrace growing cannabis and take market share,” Krane said.

This dynamic is already being played out in Oregon where the Willamette Weekly reported that the state grew more cannabis than there was demand causing prices to plunge. Marijuana farmers grew 3x more than the residents could consume. It is expected that the summer months will bring even more marijuana into the market regardless of the demand. There are rumors that some of the Oregon cannabis is making it way down to California dispensaries, even though that diversion is illegal.

Some small cultivators can’t make it with prices getting cut in half and are selling at low-ball offers to out-of-state players according to the story. The story also claims that many farmers are left with pounds of product that they can’t sell. Of course, every new market goes through a period of boom and bust. Krane believes he is seeing the boom of Canada’s cannabis expansion and expects the bust isn’t too far away.


StaffStaffApril 20, 2018
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3min7001

 KCSA Strategic Communications (“KCSA”), a fully-integrated communications agency specializing in public relations, investor relations and social media announced today that it has acquired Salar Media Group (“SMG”), a leading public relations and marketing firm specializing in the cannabis industry. SMG founder and CEO, Cynthia Salarizadeh, will join KCSA as a managing partner. Terms of the transaction were not disclosed.

“Along with the three core industry focus areas of KCSA – Technology, Healthcare and Financial Services – we are committed to expanding our considerable communications expertise across the entire supply chain in the cannabis industry,” said Todd Fromer, Managing Partner of KCSA Strategic Communications. “We are excited to welcome Cynthia and to integrating her experience and expertise in cannabis into our already robust offering.”

Since its inception, SMG has positioned itself as one of the cannabis industry’s leading public relations firms, representing many of the most respected brands and producing some of the most recognized conferences and events in the space.

SMG will remain a holding company for the media properties and projects that Salarizadeh is part of, such as the Green Market Report, the cannabis entrepreneur tech platform AxisWire.com slated to launch next week, the Industry Power Women production of Wonder Women of Weed, and the weekly broadcast of CannaBIZ & Company.

“Over the past couple of years I have watched KCSA establish a position of leadership in providing expert communications counsel to the cannabis industry. The opportunity to join KCSA was too good to pass up, and I look forward to working closely with the entire KCSA team,” said Ms. Salarizadeh.  “KCSA’s vast infrastructure, combined with SMG’s knowledge of the cannabis industry, will uniquely position us to offer unparalleled service and support to our clients from around the globe.”

This move brings together two of the largest names in cannabis public relations. KCSA Communications now has the advantage of housing one of the most influential operators in cannabis communications.


StaffStaffApril 20, 2018
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4min1300

The promotions for 4/20 continue to get bigger and splashier with free pound raffles becoming the trend for this year

Denver

Diego Pellicer (DPWW) in Denver has a promotion where with each purchase between April 1 and April 27 enters customers into a raffle for a chance to win. The grand prize “pound” winner will receive a total of 16 ounces of marijuana, to be purchased in separate increments for $1 each ($1,600 retail value). The second place winner will receive a total of $28 grams of cannabis concentrate, also to be purchased in separate increments for $1 each ($504 retail value). The third place winner of the legendary seven-gram Cannagar will receive it for only $1 ($225 retail value). The winners will be drawn on April 27 at 4:20 p.m.

The first 250 people in the store on April 20, 2018, will receive a limited edition Diego Pellicer t-shirt with a silhouette of Diego Pellicer himself as well as a gift bag with coupons. In addition, the store has taken over the front cover and back page of the local Westword entertainment guide and included a golden ticket insert redeemable for various prizes. Look for coupons including $15 for an 1/8 oz., $18 grams of concentrate and 20 percent off edibles all week.

Las Vegas

Las Vegas cannabis dispensary The+Source is giving away one free pound of flower and hosting blazing block parties at both locations starting at 10 a.m. on Friday, April 20.

A pound of cannabis will be given away at a raffle held at 4:20 p.m. at the Las Vegas location. Patrons may qualify by earning green tickets from Friday, April 13 through Thursday, April 19.  One green ticket will be earned for every $200 spent or three for every $420 spent throughout the week at The+Source.

Local cannabis vendors and related companies including Matrix, Dixie, CW Nevada, O.penVAPE, VERT, District and Integral Associates will host pop-ups for merchandise giveaways, eating competitions, live entertainment and more.

4/20 specials that will be offered from Friday, April 13 through Thursday, April 19 will include flavored 500 mg disposable pens for $20, one half-ounce of Pineapple Express or Tangie popcorn buds for $100, Dixie 80 mg Awakening Mints for $10 and 20 percent off all O.penVAPE, VERT and District edible products.

Hello Guv’ner – Arizona

Arizona’s independent candidate for Governor Noah Dyer announced a 420 Raffle.

The campaign will raffle off 4 prizes of $420 each to be given to 4 Arizona medical marijuana cardholders for use at the dispensary of their choice.  To enter the raffle, participants simply need to sign Noah¹s online petition.

Dyer has been a vocal supporter of both medical marijuana and adult-use cannabis.  He is the only candidate with a comprehensive common sense cannabis policy. Noah has been openly critical of Doug Ducey and other politicians who have harassed cardholders, doctors, dispensaries, and other businesses and members of the cannabis community.


William SumnerWilliam SumnerApril 20, 2018
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6min2460

What are your plans for 4/20? If you’re like the majority of cannabis users, that answer lies somewhere between a giant joint and a bag of chips. But if you live in a state where cannabis isn’t legal, or you’d just rather have a drink instead, there’s still a way for you to celebrate the holiday: hemp and cannabis inspired beer.

Hemp beer and cannabis inspired beer is exactly what it sounds like; beer that has been brewed with parts of the hemp plant or beer that’s been infused with cannabidiol (CBD).

Although you won’t find any beers infused with THC due largely to government regulations, you will still find plenty of beers that have both aroma and flavor of cannabis. Here are some hemp and cannabis inspired beers to help make your 4/20 the highlight of the year.

The Hemperor HPA

While some beers shy away from the fact that their beer is brewed with hemp, preferring instead to play up its connection to cannabis, The Hemperor HPA dives head first into its hempen identity. The HPA in its name stands for Hemp Pale Ale, a clever designation coined by the brewers behind The Hemperor, New Belgium. With a 7% ABV(alcohol by volume), the beer pours clear and golden and has a heavy cannabis aroma that will make you think you just lit up a joint. Brewed with hemp hearts, The Hemperor has a medium body with a hop-heavy earthy flavor.

Humboldt Brown Hemp Ale

Brewed with toasted hemp seeds, Humboldt Brown Hemp Ale is a medium bodied brown ale that goes great with a burger. Brewed by the Humboldt Brewing Company, the beer pours with nice dark brown color and has an ABV of 5.7% . It has an aroma of roasted nuts, dark malts, and just a hint of caramel. There is a slight dry sweetness to it with just a bit of bitterness to balance everything out and give you that warm herbal flavor that you’ve come to expect from cannabis.

Hop Hash Easy IPA

This Indian Pale Ale is brewed by the Sweetwater Brewing Company, best known for its cannabis inspired (but certainly not infused) Sweetwater 420 Extra Pale Ale. Like many of its brewed brethren, the Hop Has Easy IPA is loaded with hops. Adding to its pungent and floral aroma is the inclusion of Amarillo Hop Hash, which gives it a somewhat gooey, resinous feel and a crisp tropical citrus fruit flavor. The ABV on this hempen brew is 4.2% and pours with an opaque golden color.

Two Flowers IPA

Unlike most hemp and cannabis inspired beers that simply brew with hemp, Two Flowers IPA actually infuses CBD directly into the beer. Each 12 oz. bottle of Two Flowers IPA contains an ABV of 6% and approximately 3mg of CBD in it. Brewed by Coalition Brewing Company, this west coast style IPA pours a soft and hazy gold color, has a hoppy aroma and crisp tropical fruit flavor with a grassy bitterness that helps balance out the sweetness.

If you noticed an influx of hemp and cannabis inspired beers, you’re not the only one. In the wake of the rapid rise of legalized cannabis, more and more breweries have begun crafting beers with the cannabis user in mind; a trend that Phil Boyle, the General Manager of Coalition Brewing, sees continuing for the foreseeable future.

“We are seeing a movement towards Cannabis inspired beers from CBD, Hemp to Terpene enhanced beers,” said Boyle. “The more breweries we see moving towards this trend and I believe it will be a new beer genre/style, the validation, education and normalization of such beers will increase. Although there are a number a regulatory hurdles in most cases breweries will continue to push forward.”

Do you love wine? Do you love cannabis? Then check out Green Market Report’s rundown of cannabis-infused wine!


Tabitha ClayTabitha ClayApril 20, 2018
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5min2481

As April 20th nears, stoners everywhere are preparing for a day of celebration, especially those in states where marijuana legalization is already a reality. With all the focus on getting high, there’s another way to celebrate the holiday, by getting well. CBD health and wellness products are legal across the country, and they are growing in popularity. These new products are the perfect way for everyone to celebrate, regardless of their state’s recreational marijuana laws.

The Daily Hit Brownie

Vegan hotspot by CHLOE.  is teaming up with the all-natural health wellness company CAP Beauty to celebrate 420 with their first CBD-based treat. The Daily Hit Brownie contains The Daily Hit, an ingestible CBD Adaptogenic Oil, that’s completely legal and even TSA approved. The sweet treat will be exclusively available at Sweets by CHLOE. at 185 Bleecker St. Suite B, in New York and but the window of opportunity is small. The Daily Hit Brownie will only be available Friday, April 20 through Sunday, April 22, 2018.

“We are so excited to be partnering with CAP Beauty to bring our guests something unlike anything we have done before with The Daily Hit Brownie,” says Samantha Wasser, by CHLOE. Co-Founder. “Our new vegan brownie contains a serving of CBD oil and is a delicious way for guests to try our favorite adaptogen from a brand we admire and love, packed with benefits for your body and mind.”

 

CBD Wellness Box

Lucky Box Club, the premium CBD subscription service offers a way to enjoy the holiday from the comfort of your own home with its CBD Wellness box. Featured in the Official GRAMMYs® gift bag, Lucky Box Club’s CBD Wellness Box is packed with popular CBD products like Kush Queen bath bombs, Medicine Box chocolates, and Papa & Barkley Releaf patches.  Lucky Box Club promises a “dose of effective healing and relief,” with their box of hand-selected CBD wellness products.

Pure CBD Roll-On Rubs

CBD For Life will be launching a new product very soon to honor 4/20, Pure CBD Roll-On Rubs. The oils are designed to relieve body aches and pains through the anti-inflammatory properties of CBD. The rubs are certified vegan and combine coconut oil, cajuput oil, jojoba oil, cassia oils and other natural oils for rapid relief of aches and pains.  

CBD For Life produces natural Cannabidiol (CBD) pain management and beauty products using CBD extract derived from stems and stalks of industrial hemp. They combine those extracts with other nourishing essential oils and active ingredients to relieve pain, inflammation, and stress while promoting rejuvenation and vibrancy.

 

Wellness Blend CoffVee

Coffee drinkers can get in on the CBD craze this week when they try Vera Roasting Company’s new Wellness Blend CoffVee™ which is infused with CBD for wellness. Each 12 oz bag contains 120 mg of CBD, 0% THC and boasts 100% organic beans grown in the shade on small Colombian farms. The roasted beans are infused with CBD and resveratrol, the antioxidant found in red wine.  The new CBD infused CoffVee™ started shipping April 12, 2018.

 


StaffStaffApril 19, 2018
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7min1640

Here is your Daily Hit of cannabis news for April 19, 2018:

On The Site:

GW Pharmaceuticals Inc.

GW Pharmaceuticals Inc. (GWPH) continues to get closer and closer to FDA approval of its drug Epidiolex for the rare forms of epilepsy Lennox-Gastaut and Dravet Syndrome. Epidiolex is GW’s lead cannabinoid product candidate and is a pharmaceutical formulation of purified cannabidiol or CBD.

Following a live hearing on Thursday, the company announced that the Peripheral and Central Nervous System Drugs Advisory Committee of the U.S. Food and Drug Administration (FDA) unanimously recommended supporting the approval of the New Drug Application (NDA) for the investigational cannabidiol oral solution (CBD) for treatment in patients two years old and up.

MassRoots

MassRoots filed its annual report on Tuesday but didn’t get around to the company’s financials in the filing until page 24. Gross revenue for the year fell 54% to $319,242, while the net losses ballooned 146% to $44 million. The net loss per share for 2017 was 46 cents. CEO Isaac Dietrich awarded himself a bonus of $190,659 on top of his salary of $96,971. While Mr. Dietrich’s monthly salary was decreased from 2016, his total compensation jumped from $107,917 in 2016 to $287,630 in 2017.

Payroll and related expenses increased $991,528 to $3,104,407 during fiscal year 2017 from $2,112,879 during fiscal year 2016. MassRoots said that the increase was mainly a result of added personnel in 2017. However, the company actually slashed personnel and currently only has five full-time employees, two part-time and one full-time independent contractor. MassRoots also hasn’t paid its taxes. The company has payroll tax liabilities of approximately $1,599,489.

In Other News:

CannaRoyalty Corp.

CannaRoyalty Corp. (CNNRF) entered into an agreement to acquire FloraCal Farms  a licensed ultra-premium craft cannabis producer located in Sonoma County, California for total purchase considerations of $1 million in cash and 3,508,772 CannaRoyalty shares on close, as well as up to an additional US$3 million in cash and 3,508,772 shares to be paid over 3 years, based on completion of certain milestones.

According to the company statement, FloraCal is building its Sonoma County facility in three Phases and has been designed to comply with cGMP* (Current Good Manufacturing Process) standards. Phase I is licensed and in commercial production, with 15,000 square feet of purpose-built indoor growing in a 64,200 square foot facility. Phase II has been licensed and will increase the facility size to 42,200 square feet and targeted annual production of 3,700 kg, with construction expected to commence in Q2 2018 and be completed by Q1 2019. Phase III is under option and would allow further expansion to the full facility size of 64,200 square feet facility with a targeted annual production of 5,500 kg. FloraCal has a temporary medium indoor cultivation license from the state of California, as well a Type 6 non-volatile manufacturing permit in Sonoma County.

EVIO, Inc. 

EVIO (EVIO) announced the establishment of a new and wholly-owned subsidiary, EVIO Canada, which will serve as the parent company for the Company’s Canadian operations. Concurrently, EVIO Canada announced today that it has entered into a binding agreement to acquire 50% of Keystone Labs Inc., a privately-held, independent contract-testing laboratory specializing in quality testing for regulated industries located in Edmonton, Alberta.

Kona Gold Solutions, Inc.

Kona Gold Solutions (KGKG), a hemp lifestyle brand focused on product development in the functional beverage sector, is pleased to announce the retirement of One Hundred and Sixty Million (160,000,000) shares of common stock by the company’s management team. Kona Gold’s management team was able to negotiate the retirement of One Hundred and Sixty Million (160,000,000) shares of common stock.  The current Issued and Outstanding as of April 19th, 2018 is 486,465,449.

High Park Company 

High Park Farms,  an affiliate of High Park Company received a federal license from Health Canada to cultivate cannabis under the Access to Cannabis for Medical Purposes Regulations (ACMPR). The High Park Farms facility, which is anticipated to represent an investment of up to $30 million, features 13 acres of a greenhouse on 100 acres of property in Enniskillen, Ontario.
NJ law firm Pashman Stein Walder Hayden has filed a brief in direct response to New Jersey’s Division of Consumer Affairs solicitation for public comment on how marijuana is classified under state law and whether any change in its classification status is warranted. The brief argues that cannabis does not meet the definition of a controlled dangerous substance – and never has, and is in favor of de-scheduling cannabis completely. If marijuana is de-scheduled, it could have a significant impact on how it is regulated in New Jersey, and it may be the first step towards legalization.

 

 


Debra BorchardtDebra BorchardtApril 19, 2018
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3min950

GW Pharmaceuticals Inc. (GWPH) continues to get closer and closer to FDA approval of its drug Epidiolex for the rare forms of epilepsy Lennox-Gastaut and Dravet Syndrome. Epidiolex is GW’s lead cannabinoid product candidate and is a pharmaceutical formulation of purified cannabidiol or CBD.

Following a live hearing on Thursday, the company announced that the Peripheral and Central Nervous System Drugs Advisory Committee of the U.S. Food and Drug Administration (FDA) unanimously recommended supporting the approval of the New Drug Application (NDA) for the investigational cannabidiol oral solution (CBD) for treatment in patients two years old and up.

“We are pleased by the Advisory Committee’s unanimous recommendation to approve Epidiolex, which would provide an important treatment option for patients with LGS and Dravet syndrome, two of the most severe and treatment-resistant forms of epilepsy,” said Justin Gover, GW’s Chief Executive Officer. “This favorable outcome marks an important milestone in our company’s unwavering commitment to address the significant unmet need for patients with LGS and Dravet syndrome and our resolve to study Epidiolex under the highest research and manufacturing standards. We look forward to our ongoing discussions with the FDA as it continues to review the Epidiolex NDA.”

Today’s recommendation doesn’t mean that the FDA will definitely approve it, but it is a positive sign. The FDA Advisory Committees is an independent expert panel. Their votes are not binding but are considered by the FDA when deciding whether to approve a new medicine. The next event for GW Pharma is June 27 which is the goal date for PDUFA (Prescription Drug User Fee Act) completion of the NDA review of the cannabidiol oral solution and if approved, the medicine is expected to be available by prescription in the second half of 2018.

“GW Pharmaceuticals’ efforts and success with Epidiolex proves several important facts on several fronts. I believe the most important is this… to refer to a product as ‘medicine,’ the time-tested process of clearing a new therapeutic treatment through the FDA is sacrosanct and essential to making that claim. Congratulations to GW Pharmaceuticals for finishing that race,” said Dean Petkanas, CEO of Kannalife Sciences.

GW has also submitted a Marketing Authorization Application to the European Medicines Agency with an expected decision date in early 2019.

Stock Performance

GW Pharmaceuticals stock was lately trading at $134. The stock popped earlier this week upon positive comments about Epidiolex.



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The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


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