Sector Market Growth in Legalization of Cannabis

Thursday, July 27, 2017 Drug News
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NEW YORK, July 27, 2017 /PRNewswire/ --

The legal cannabis market

is growing at a rapid pace due to the legalization in certain states in USA. According to a report published by Grand View Research, the global medical cannabis market is expected to reach $55.8 billion by 2025, with a compound
annual growth rate of 17.1 percent during the forecasted period. The growing adoption of cannabis products is a major factor that drives the growth of the market. Currently, eight states have legalized recreational cannabis and 29 states have allowed cannabis for medical use. ChineseInvestors.com, Inc. (OTC: CIIX), MCig Inc. (OTC: MCIG), MassRoots, Inc. (OTC: MSRT), Cannabis Science, Inc. (OTC: CBIS), Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP).

Cannabidiol, one of active cannabinoids identified in the cannabis plant, is considered to have significant medical benefits. According to Hemp Business Journal and Vote Hemp, sale of Hemp CBD was $130 million in 2016, with a growth rate of 53% AGR or 'Adjusted Growth Revenue'. Eric Steenstra, President of Vote Hemp stated: "To date, 31 states have passed legislation that allows hemp farming per provisions set forth in the 2014 Farm Bill, and the U.S. remains the largest consumer market for hemp products worldwide. We need Congress to pass federal legislation to allow commercial hemp farming nationally, to let our farmers and American business take advantage of the robust economic opportunity hemp provides."

ChineseInvestors.com, Inc. (OTCQB: CIIX) announced earlier this week that, "its wholly-owned foreign enterprise, CBD Biotechnology Co. Ltd., has officially filed a record of its first line of non-industrial hemp-infused skin care products with the China Food and Drug Administration (CFDA). The new 'CBD Magic Hemp Series' skin care line is expected to launch between late August and early September 2017, positioning CBD Biotechnology as a first-mover in an untapped segment of China's skin care industry."

Recognizing the untapped market potential, CBD Biotechnology is developing and manufacturing what it believes to be the first line of non-industrial hemp-infused skin care products in China in hopes of educating the Chinese population on the potential benefits of CBD for skin care. "I am very pleased to announce the upcoming launch of CBD Biotechnology's non-industrial hemp-infused skin care line," says Summer Yun, CEO of CBD Biotechnology Co., Ltd. "As one of the first skin care products containing CBD extract marketed in China, CBD Magic Hemp Series expects to capture 100% of China's market share in this novel skin care products category. Although a catalogue published by the CFDA, indicates that cannabis sativa leaf extract can legally be added to skin care products, it appears that Chinese skin care manufacturers have not yet entered this market, enabling CBD Biotechnology's skin care products to proudly take the lead with its innovative product line."

The 'CBD Magic Hemp Series' will include: - The CBD Peptide Collagen Solution - intended to moisturize and firm the skin, while smoothing fine lines, and preventing premature aging; - The CBD Perfecting Shield Primer - intended to even skin tone, while covering fine lines and minimizing the look of pores; and - The CBD Brightening and Refreshing Moisturizer - intended to balance the skin's moisture, while forming a protective, moisturizing layer.

"Consumption of skin care products per capita in China has increased from 169 Chinese Yuan Renminbi to 352CNY during the last five years," says Yun. "China has the world's second largest consumer market for skin care products, with its current market size already exceeding 300 billion CNY. The CAGR (compound annual growth rate) of the skin care products market in China is 9.1%, more than double the global average of 4.1%. CBD Biotechnology will benefit from this large consumer market in China becoming one of the first companies in China to infuse its skin care products CBD extracted from non-industrial hemp."

mCig Inc. (OTCQB: MCIG) is a diversified and vertically integrated cannabis group committed to being the leading distributor of technology, products and services to fit the needs of the rapidly expanding cannabis sector. The company recently announced the latest project updates for Grow Contractors, in addition to the latest expansion of its cannabis supply division into the California cannabis market with record sales driven by recent recreational legalization in Nevada. Robert Kressa, CEO of Grow Contractors, said: "Grow Contractors is doing exceptionally well, building faster and taking on more projects, with years of growth ahead. The recent influx of requests in Nevada alone will keep us busy in the foreseeable future. Nevada will be working many years to fulfill the demands of this budding industry, and Grow Contractors will be there to support and provide service along the way," 

MassRoots, Inc. (OTCQB: MSRT) is one of the largest technology platforms for the regulated cannabis industry. Recently, the company announced that it has executed a Definitive Agreement for MassRoots to acquire Odava for cash and shares of MassRoots' common stock. Odava is an industry-leading platform technology that provides compliance, point-of-sale, and supply chain management for the cannabis industry. The combination of the two companies is expected to create one of the largest technology conglomerates in the cannabis market and now will also be providing regulatory compliance, point-of-sale and consumer engagement programs for the entire industry.

Cannabis Science, Inc. (OTC: CBIS) is a U.S. company specializing in the development of cannabinoid-based medicines. The company recently announced that it has found a California facility ideal for its large-scale manufacturing and product distribution center as it ramps up its efforts to supply cannabinoid medications in high-demand by self-medicating patients. As Nevada's Governor issues a Statement of Emergency due to the potential of limited cannabis availability, CBIS is actively looking for a similar facility in Nevada.

Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP) is a Phase 3 clinical stage pharmaceutical company focused on the development and commercialization of novel therapeutics to treat rare, chronic, and serious inflammatory and fibrotic diseases. The Company's lead product candidate, anabasum, is a novel synthetic oral endocannabinoid-mimetic drug designed to resolve chronic inflammation and fibrotic processes. The company recently announced that safety and efficacy data from its previously completed Phase 2 clinical study of anabasum or formerly known as JBT-101, the treatment of diffuse cutaneous systemic sclerosis was presented at the European League Against Rheumatism Annual Meeting in Madrid, Spain. The presentation included a review of the Phase 2 topline data previously announced, additional data from the study regarding Patient-Reported Outcomes Measurement Information System (PROMIS)-29, and additional analysis of the previously-reported CRISS domains and transcriptome data.

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