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February 21st Highlights
The Green List Opinions Hits: 110
- Cannabis - A Booming Opportunity for Job Creation - A new report from the industry analyst company Leafly and Whitney Economics shows the legal U.S. cannabis industry added 77,000 new jobs in 2020. Nationally, the industry supports about 321,000 jobs, a 32-percent increase over the previous year — at a time when the broader economy shrank by 3.5 percent. The number of cannabis workers is larger than the number of Americans who work in medical and diagnostic laboratories, and it nearly rivals the 325,000 Americans employed in the performing arts or spectator sports. The growing cannabis employment base is a valuable case study, demonstrating the impact functional medical and adult-use cannabis indicates are on the job economy. This is further complemented by a U.S study. Researchers looked at opioid mortality and cannabis dispensary prevalence in 23 U.S.states from 2014 to 2018 and found that, overall, counties, where the number of legal cannabis shops increased from one to two, experienced a 17 percent reduction in opioid-related fatalities. More jobs and reduced opioid mortality, appear to be a no-brainer. Content Source
- The Cannabis Industry Gains Milestone Legitimation - This month’s €6B acquisition of the UK heavyweight GW Pharmaceuticals by Jazz Pharmaceuticals has been hailed as a major validation of the medical cannabinoid industry. The deal is the largest to date in the medical cannabinoid field. Jazz’s offer valued GW’s shares nearly 50% higher than their previous day’s close. The acquisition is expected to close in the next few months, subject to shareholder and regulatory approvals. Experts say it could herald a new era of investments in an industry that is increasingly gaining recognition. It could also lead to a flurry of patent wars in a niche where the primary resource is a naturally occurring plant whose medical properties are hard to patent. Going forward, companies with a focus on the commercialization of active pharmaceutical ingredients (APIs) and have leverage to the biotech side of the industry are uniquely positioned to be a beneficiary of long-term growth opportunities. Currently, there are only a few companies to be levered to the biotech side of the cannabis value chain and we are favorable on the long-term potential that is associated with the vertical. There is a half-life for businesses that are simply supplying cannabis as unregistered medicine. Companies who are adopting pharmaceutical approaches within their business model (i.e. supply chain, distribution, product development) will have a competitive advantage. Content References - Link 1 and Link 2
- Cannabis - Providing Relief from Migraines - An overwhelming majority of migraine sufferers found relief with the use of CBD oil, according to the results of a recent study. Data from a clinically validated survey showed that 86% of respondents reported a decrease in headache impact after using a cannabidiol (CBD) formulation for a 30-day trial period. Migraine is one of the world’s most prevalent neurological diseases, according to information from the Migraine Research Foundation, affecting approximately 39 million people in the U.S. and about one billion globally. Symptoms, which are often disabling, can include severe headache, dizziness, nausea, visual disturbances and severe sensitivity to light or sound. Migraine disease is commonly treated with strong pharmaceutical drugs, although with varying results. Article Reference
- Cannabis Gaining Traction with Older Adults - A new study by researchers at Ben-Gurion University of the Negev and its affiliated Soroka University Medical Center found that medical cannabis might reduce blood pressure in older adults. The study from last year found the number of Americans age 65 and older who smoke marijuana or enjoy edibles increased 75% from 2015 to 2018. A new study suggests that might be a good thing for some. Article Reference
Cannabinoids in Focus after GW Pharmaceuticals snapped up for €6B
NFL requesting research on CBD for pain management
Can India’s medical cannabis market thrive?
Areas with more cannabis dispensaries have fewer opioid deaths, new study finds
Carving out a slice of the European medical cannabis market