NEW YORK, February 13, 2018 /PRNewswire/ --
As the legalization of medical marijuana spreads, the appetite for investment in the cannabis biotech sector keeps growing. This is the largest sector of the legal cannabis market, already a multi-billion-dollar market. Researchers continue
A Thriving New Sector
The legal cannabis sector is booming. According to the Brightfield Group, it is already worth over $7 billion and expected to grow to $31 billion by 2021. Within that market, CBD products are a significant sector, expected to hit $1 billion in the next few years. Even the more conservative U.S. states are overcoming their objections and opening up to CBD production and sales, as legislators seek to resolve legal ambiguities in favor of patients.
While the emergence of a recreational cannabis market in regions such as Canada and California is exciting news for the cannabis industry, the industry's financial security rests on medical products. The loosening of laws makes research easier, as does the growing experience of medical cannabis companies. CBD is a particularly rich source of therapeutics with the potential to be utilized against a wide range of ailments. Researchers are exploring its potential to tackle such enduring problems as epilepsy, anxiety, depression and breast cancer.
Innovating in Cannabidiol
Biotechnology company Earth Science Tech (OTC: ETST) has diverse interests within the cannabis market. Its subsidiaries cover diagnostics and vaccines, recreational cannabis and CBD products. In that last area, it's leading the way in researching and marketing a wide variety of CBD-based treatments through innovative partnerships and collaborative research.
Earth Science Tech's CBD work is carried out through its subsidiary Cannabis Therapeutics, Inc. (CTI). The company's CBD oil is 100 percent natural and organic, catering to the environmental concerns common among cannabis users. It is made using a CO2 liquid extraction process that results in a full-spectrum, high-grade hemp CBD oil that has the highest purity and quality on the market.
To keep it in the lead of the CBD market, Earth Science Tech has created partnerships with other research bodies to produce cutting-edge treatments. It is working with the University of Central Oklahoma and DV Biologics Laboratory on research and development projects to enhance the healthcare benefits of its CBD oil. This has positioned the company to take a leadership role in the development of cannabinoid-based pharmaceutical and nutraceutical products. The company holds a provisional application patent for a CBD product for treating breast and ovarian cancers, taking CBD treatments in bold new directions.
Reaching New Market Sectors
Cannabis Therapeutics currently has two cannabinoid-based pharmaceutical drugs and three cannabinoid-based nutraceutical products in development. These are being made to treat a range of ailments including anxiety, depression and fatty liver disease.
One major focus is integrating the CBD molecule with existing generic drug molecules to create more efficient medications that have fewer side effects than the more common approaches. The company is therefore engaged not only in making cannabinoids useful and available to a wider range of patients, but in creating a better experience for existing patients.
Other research into medical cannabinoids by Earth Science Tech could counter conservative fears about the impact of medical cannabis on the illegal drug market. In November 2017, the company began human trials on a new CBD formula designed to decrease cravings and the negative effects of withdrawal in opioid addicts. Based on industrial hemp CBD mixed with a natural ingredient that increases dopamine levels, it could be used to counter the opioid epidemic plaguing many countries. By turning medical CBD into a weapon in the fight against addiction, it will reposition cannabis in the public discourse on drug use. This has the potential to counter resistance to the expansion of the medical cannabis market.
Raising the Brand Profile
Earth Science Tech has a wide variety of products, giving it good reach within the CBD market. Its CBD treatments are available as vitamins, minerals, herbs, botanicals, personal care products, homeopathic treatments and foods. Other products come in forms including capsules, tablets, soft gels, chewables, liquids, creams, sprays, powders and whole herbs. Available at retail stores across the United States and online, they have a combination of physical shelf presence and online visibility to raise their profile with consumers.
The company is currently rebranding its CBD products (http://nnw.fm/s6pC1), using market research to drive improved sales. The chief marketing officer commented, "We did a lot of market research to see what the best angle to truly stand out in the growing CBD industry is through our accounts, representative feedback, and external brand analysis. I feel that marketing, 'High Grade Full Spectrum Cannabinoids' will help ETST truly stand out. Soon, the market will be able to see that ETST is a true full spectrum CBD brand, especially with the cannabinoid complex listing under the supplement facts."
As a result of this research, previous marketing of the company's products as, "High Grade Hemp CBD Oil" is being replaced with "High Grade Full Spectrum Cannabinoids." Branding will also include the addition of "Cannabinoid Complex". The supplement facts will show the breakdown of the full spectrum of CBD oils being used, including CBD, CBG and CBDA.
Box packaging has been designed to incorporate these changes and a modern, edgy look while maintaining the clean design associated with medicinal products.
Taking these revamped products into American stores (http://nnw.fm/pd51A) is the first major distributor for Earth Science Tech's products - Mr. Checkout.
Mr. Checkout, as featured on ABC's Shark Tank, is a national group of independent distributors, full-line grocery distributors and convenience stores. It represents products in over 60 major U.S. retail outlets with approximately 55,000 stores. Mr. Checkout's accounts include Walgreens, CVS, Walmart, Wholefoods Market and Target. This distribution deal provides a direct route for Earth Science Tech's products onto the shelves of powerful retail stores with a large consumer base.
Earth Science Tech has 10 active representatives opening and managing accounts across the United States. These representatives have been very successful with health food stores and clinics. The distribution agreement with Mr. Checkout will take the company's products beyond this market, into major retailers and stores, substantially expanding the company's reach.
Gabriel Aviles, Earth Science Tech's chief sales officer and director, said about the deal, "I feel that we have finally put together a solid productive team of representatives that we needed to continue expanding our presence in health shops and clinics. Now, with Mr. Checkout, we will be able to take our presence and sales to the next level, entering larger retailers and many stores. 2018 looks to be starting off very strong with our new product revamp, marketing and education strategy, and sales channel."
Growing Consumer Choice
The growth of the medical cannabis sector means that Earth Science Tech's products sit among a wide range of brands on the ever-growing shelves of CBD oils.
British cannabis company GW Pharma (NASDAQ: GWPH) has developed Sativex, the first prescription medicine derived from the marijuana plant. This has been approved for Multiple Sclerosis spasticity and neuropathic pain in 29 countries. The company is currently seeking FDA approval for Epidiolex, a CBD-based treatment for epilepsy, after the drug was found to be effective in clinical trials.
Medical Marijuana (OTC: MJNA), one of the pioneers of the cannabis sector in North and South America, offers its flagship product Real Scientific Hemp Oil (RSHO) in three varieties. RSHO was the first legal CBD oil in both Brazil and Mexico, and the company was the first publicly traded cannabis business in the United States. A global leader in the medical marijuana industry, this forward-looking company is also exploring the nutritional potential of hemp.
CV Science (OTCQB: CVSI) is divided into two segments: a drug development division focused on creating and commercializing novel CBD-based therapeutics, and a consumer product division that manufactures, markets and sells plant-based CBD products. It is tapping into a wide range of market sectors through products such as its Purified Liquids products for vaping. Its PlusCBD Oil is the top-selling brand of hemp-derived CBD oil for consumers in the natural products industry.
Recognizing the long history of cannabinoids for health purposes and supporting peer-reviewed scientific journals, Cannabis Science (OTC: CBIS) is focused on the discovery and development of novel cannabinoid-based therapies as treatment options for unmet medical needs. Its immediate focus is on the treatment of cancer.
Cannabinoids are an increasingly important part of the growing cannabis sector. Companies that can combine strong branding, customer outreach and innovative products are likely to see great growth as the market expands by billions each year. And as research finds new therapeutic uses for these chemicals, they are set to improve the lives of thousands of patients.
For more information on Earth Science Tech, visit Earth Science Tech (OTC: ETST)
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