How Growing Number Of Clinical Trials Are Influencing Growth Of The Cannabis Pharmaceuticals

PALM BEACH, Fla., April 14, 2021 /PRNewswire/ -- The medical cannabis market has made some remarkable accomplishments in the past few years with the launch of innovative products. The clinical trials and approval of some cannabis-infused products have opened up the market for cannabinoid-based pharmaceuticals. The market for cannabis pharmaceutical is still in the nascent phase with higher opportunities. The growing legalization of marijuana globally is encouraging more investment in the space, and for pharmaceutical companies to expend more resources on the development of cannabinoid-based pharmaceutical drugs. A report from Grand View Research projected that the global cannabis pharmaceuticals market size was valued at USD 67.0 million in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 76.8% from 2020 to 2027. The report said: "The rapidly progressing transformation of cannabis from herbal preparations to prescription drugs is anticipated to boost the growth of the market. Furthermore, the growing use of cannabis-based pharmaceuticals for multiple indications including inflammation, chronic pain, epilepsy, sleep disorders, anorexia, schizophrenia, and symptoms of multiple sclerosis, is another major factor driving the growth of the market. Emergence of Cannabis 3.0 that essentially highlights the necessity of value-based outcomes rather than perception based outcomes. This concept revolves around a shift from the traditional approach of smoking whole cannabis flower/bud to the consumption of processed, quantified, and packaged products derived from cannabis."   Active Cannabis companies in the markets this week include Ikänik Farms, Inc. (CSE: IKNK.U), Cresco Labs (OTCQX:CRLBF) (CSE:CL), Village Farms International, Inc.  (NASDAQ: VFF) (TSX: VFF), Aphria Inc. (NASDAQ: APHA) (TSX: APHA), Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI).

Grand View added that: " Pharmaceutical (approved) products…  and others (in pipeline) will not only boost the medical cannabis market but, as these drugs are developed and regulated through a stringent process, will also improve physician and patient perspective on quantifiable benefits of cannabis-based drugs. Furthermore, it will also help companies to conduct clinical studies to broaden the application areas.  The growing number of clinical trials for various health conditions, due to the therapeutic properties of cannabis especially Cannabidiol (CBD) is also influencing the growth of the market… The surge in the number of authorizing physicians providing medical cannabis to patients owing to an increase in clinical evidence, rise in the awareness, comfort with the process, and the growing number of patients looking for medical cannabis as a potential alternative to traditional drugs is likely to drive the demand worldwide."

Ikänik Farms, Inc. (CSE: IKNK.U.CNQ) BREAKING NEWS:  Ikänik Farms Completes Cooperative Agreement with SGS Colombia SAS, Developing International Cannabis Certification - Ikänik Farms, Inc. ("Ikänik Farms" or the "Company") is pleased to announce that Pideka SAS. ("Pideka"), a wholly-owned subsidiary of Ikänik Farms, has successfully completed its cooperative agreement with SGS Colombia SAS ("SGS") to design, initiate, develop, and implement a normative standard for the international certification of medicinal cannabis. This certification works to establish a new baseline standard for the quality and safety of pharmaceutical grade cannabis products known as the "GPTCP", or "Good Production Transformation & Commercialization Practices Cannabis Pharma".

"Completing this collaborative certificate with SGS Colombia is a milestone achievement and a reflection of the company's dedication to best-in-class quality for the cannabis industry." said Brian Baca, CEO of Ikänik Farms.

About the GPTCP Certification - The GPTCP certificate ensures the company maintains international standards and differentiates itself by adhering to a global benchmark standard of quality for the production cannabis.

With the collaborative development of the SGS certified seal of self-regulation and sustainability, industry best practices are promoted and fosters a competitive approach to quality, through best in class and standardized processes across the industry, providing end consumers with product confidence.

The GPTCP encompasses facets of the requirements under various standards such as the BPA, BPM, INVIMA, ICA, ISO 9001, SG-SST, EUGMP at both the national (Colombian) and international levels.

The quality certification and delivery of high-caliber products is one of the Company's key objectives, supported through operating certifications obtained for its operations, including (GACP, GMP FARMA, ISO-9001, and EUGMP)  Read More Details about Ikänik Farms by visiting:   https://www.ikanikfarms.com/ and https://www.iknkbrands.com/investors

Other recent developments in the cannabis industry include:

Cresco Labs (CSE:CL) (OTCQX:CRLBF) a vertically integrated multistate operator and the number one U.S. wholesaler of branded cannabis products, recently announced the launch of Wonder Wellness ("Wonder") Gummies and availability in Illinois. The new low-dose edibles are enhanced with botanicals to complement the overall cannabis experience, and their simple packaging communicates desired effects so wellness-minded category newcomers can consume with confidence to add cannabis as a part of their daily lifestyles.

"We're focused on growing our share through an innovation strategy that capitalizes on both market dynamics and edibles portfolio white space," said Greg Butler, Chief Commercial Officer at Cresco Labs. "Effect-forward, 5 mg gummies represent one of the largest market segments, and Wonder Wellness offerings address some of the most desirable consumer needs of relaxing, getting better sleep, and being happy. Wonder Wellness is built for the exact occasions when wellness-minded consumers are looking for products to enhance or improve their everyday experiences."

Village Farms International, Inc.  (NASDAQ: VFF) (TSX: VFF) recently announced its financial results for the three months and year ended December 31, 2020. All figures are in U.S. dollars unless otherwise indicated.  "The fourth quarter was a solid finish to a year of significant achievement for Village Farms and our wholly owned Canadian cannabis subsidiary, Pure Sunfarms, which saw great success as it transitioned its focus to retail branded sales from nearly all sales in 2019 being non-branded, mainly to other producers," said Michael DeGiglio, CEO, Village Farms. "Following a 40% sequential increase from the second to the third quarter of 2020, Pure Sunfarms sales of branded retail products to provincial distributors increased another 28% sequentially from the third to the fourth quarter, as our branded dried flower products continued to be the top seller with the Ontario Cannabis Store, and our first Cannabis 2.0 products were well received by consumers. This contributed to our ninth consecutive quarter of profitability, even as we invested during the quarter to support our future growth."

Aphria Inc. (TSX: APHA) (NASDAQ: APHA) recently reported its financial results for the third quarter and nine months ended February 28, 2021. All amounts are expressed in Canadian dollars, unless otherwise noted and except for per gram, kilogram, kilogram equivalents, and per share amounts.

Irwin D. Simon, Chairman and Chief Executive Officer, commented, "Our global team executed well in the very fluid, ongoing COVID-19 operating environment. We proactively managed our expenses and maintained our positive adjusted EBITDA for the third quarter of fiscal 2021. The duration and impact of lockdowns across many of the regions we operate in, particularly in Canada, were greater than we initially anticipated for the cannabis industry and our business; however, we believe Aphria remains well-positioned with our leading brands and market share to experience a robust increase in our top-line as the market improves. In the U.S., we had a solid first full quarter of contribution from SweetWater even with lower on-premise sales compared to the prior year quarter as many foodservice industry establishments were still operating with limited capacity. Going forward, we are excited about the strategic opportunities for incremental growth as we look to parlay our branded consumer products into additional complementary product offerings in Canada, the U.S. and internationally."

Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI), the parent company of Organigram Inc. a leading licensed producer of cannabis, recently announced its results for the second quarter ended February 28, 2021 ("Q2 2021").

"Although Q2 2021 results were challenged by industry dynamics, COVID-19 and staffing limitations at our facility, we believe there are excellent prospects ahead for the industry, Organigram and our shareholders," said Greg Engel, Chief Executive Officer of Organigram. "Nearer term, we are currently tracking to generate higher revenue in Q3 2021 as our new product portfolio continues to gain traction and we become better staffed to fulfill demand. Our recent acquisition of The Edibles and Infusions Corporation positions us to generate revenue from the largest single category of edibles, soft chews or gummies. We also see the potential for meaningful gross margin improvement over time as we revitalize our dried flower portfolio with new Edison and Indi strains and execute on a number of opportunities including the refinement of our cultivation, post harvesting and packaging processes. Longer term, we are extremely excited about developing innovative and appealing products to consumers in collaboration with BAT. All of this is made possible and supported by strong liquidity and a balance sheet that is largely debt-free."

DISCLAIMER:  FN Media Group LLC (FNM), which owns and operates FinancialNewsMedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels.  FNM is NOT affiliated in any manner with any company mentioned herein.  FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security.  FNM's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities.  The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material.  All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks.  All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release.  FNM is not liable for any investment decisions by its readers or subscribers.  Investors are cautioned that they may lose all or a portion of their investment when investing in stocks.  For current services performed FNM has been compensated twenty five hundred dollars for news coverage of the current press releases issued by Ikänik Farms, Inc. by a non-affiliated third party.  FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.

Contact Information:
Media Contact
email: [email protected] 
+1(561)325-8757 

View original content:http://www.prnewswire.com/news-releases/how-growing-number-of-clinical-trials-are-influencing-growth-of-the-cannabis-pharmaceuticals-301268375.html

SOURCE FinancialNewsMedia.com