Medical marijuana market growing

Medical marijuana market growing

New research by European investment bank Bryan, Garnier & Co has found that the global legal cannabis market is expected to grow by more than 1,000 per cent over the next 10 years, potentially reaching US$140 billion by 2027.

Indeed, WeedMD Inc and Revive Therapeutics Ltd., which focus on the research, development and commercialisation of novel cannabinoid-based therapies, recently announced that ‘they have entered into medical cannabis research and development supply and collaboration agreements’. The agreements will see WeedMD supplying Revive with cannabidiol (CBD) for a research programme evaluating CBD in the treatment of liver disease.

"The relationship with WeedMD represents a significant milestone for Revive as we have secured a strategic supply of medical-grade CBD for our research, development and commercialisation efforts for liver diseases," said Fabio Chianelli, President of Revive. "With WeedMD's commitment to the research, development and commercialisation of medical grade cannabis, it is the ideal strategic partner for Revive to accelerate the execution of our business plan in commercialising novel cannabinoid-based therapies and to validate our commercial development efforts in the medical cannabis market."

Other companies focusing on developing and commercialising CBD are Cara Therapeutics Inc., GW Pharmaceuticals plc, 22nd Century Group, Inc. and Zynerba Pharmaceuticals, Inc.