Medical cannabis for NFL players, decriminalization of CBD in Mexico, and CBD for Pets lead our headlines this week.
The Medical Marijuana, Inc. family of companies once again dominated the cannabis news cycle this week as our companies, brands, and spokespersons were included in media outlets from around the internet.
Kannalife™ Sciences Spokesperson Nick Lowery Interviewed This Week
Former NFL Pro Bowler and Kannalife™ Sciences spokesperson Nick Lowery was interviewed once again by The Cannabis Reporter podcast. The interview centered around Chronic Traumatic Encephalopathy, a medical condition closely tied to repeated blows to the head. The condition is widespread among players in the NFL.
Kannalife™ Sciences is currently working to create cannabinoid-based protection and treatment options for those exposed to head injuries, including athletes, members of the military, and even domestic abuse survivors.
In this interview, Lowery addresses the spread of CTE among NFL players and the call for access to medical cannabis for active NFL players. Although the NFL has pushed back, NFL alumni advocates have been joining together to put pressure on the league to revise its drug policy to allow use of cannabinoids therapeutically.
Lowery then called in to CNBC’s Power Lunch. During his interview Lowery hinted that the company is looking to go public. He also talked up Kannalife™’s patented molecules and their efforts to create novel new treatments for CTE and to disrupt America’s opioid epidemic.
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NFL Great Andre Reed Joins Kannaway Sports
This week, Medical Marijuana, Inc. subsidiary Kannaway announced that it had partnered with NFL Hall of Fame wide receiver Andre Reed as part of its Kannaway Sports initiative. Reed will provide a testimonial of his experience using Kannaway’s unique line of CBD products. This testimonial, along with the testimonials of Kannaway’s other partner athletes, will be available on the Kannaway Sports site. The purpose of Kannaway Sports is to promote the use of CBD products for professional and amateur athletes, as well as the general public, for a better quality of life.
Medical Marijuana, Inc. Reacts to Shift in California Policy
In a surprise move, the California Department of Public Health has begun sporadically moving to halt certain businesses adding CBD to food products meant for human or animal consumption. The OC Register provided coverage of this ongoing situation this week.
Industry insiders have been quick to fight back. On July 19, the trade group U.S. Hemp Roundtable wrote a letter to the state health department disputing the legality of the new guidelines. Others in the industry are preparing a potential lawsuit to challenge their new direction concerning CBD.
In the OC Register article, Medical Marijuana, Inc. CEO Dr. Titus was interviewed. Dr. “Titus said the guidelines came as a ‘real surprise’ to people in the industry. He believes the health department made some statements that aren’t in line with the “full letter of the law,” with industry experts anxious to educate state regulators.”
Despite this recent confusion, the hemp-based CBD market has boomed. According to the article, “Last year, sales of CBD from hemp hit $190 million, according to market research firm New Frontier Data. By 2022, the market is projected to hit $646 million.”
In the article, Dr. Titus revealed “that even though the industry is disappointed at the state’s current position on hemp-derived CBD, he’s trying to stay positive.”
“I think this represents really a tremendous opportunity to us in the industry to promote the health and wellness benefits of CBD,” he said in the piece.
This story was also picked up by VerifiedTask and The Press–Enterprise.
Mexico Moves to Decriminalize CBD
Just over the border in Mexico, lawmakers are looking to begin treating CBD like a health supplement, opening the door for CBD-infused bath and beauty products and other daily use CBD products, according to an article on AZ Marijuana.
In the piece, the President of HempMeds®, Latin America, Raul Elizalde, said, “A good point about this regulation in Mexico is that any product with a THC concentration higher than 1% can still be registered with the government, and sold as a prescription. But the best part is that [cannabinoids] with below 1% THC content can be in medicine, supplements, lotions, food, anything. This is very, very good for our country, and I think we’re one of the very first in the world to take that path.”
Elizalde continued by saying, “The Mexican government understands that CBD is not a danger to public health, so regulating quantity just doesn’t make sense. Usually people take around 60 mg per day for medicinal purposes, but studies showing no health risks have tested dosages of up to 250 mg per kilogram weight of the patient before researchers basically gave up.”
CBD for Pets
This week, an article in Seeking Alpha looked at the trending CBD market for pets and the role the veterinarian is meant to play in the decision of owners to administer CBD to their pets.
“There’s a tremendous future in [medical marijuana for pets], and I believe as time goes on, they will serve a great use. But, at this point, we’re handcuffed.” a New Jersey veterinarian is quoted saying. “No one wants to take any risk. You don’t want to be the pioneer and risk your license.”
According to the article, “Things could be changing. A bill moving through the California legislature would protect that state’s vets from disciplinary action for discussing cannabis use on animal patients, and New Jersey lawmakers are in the early stages of considering something along similar lines.”
Medical Marijuana, Inc. is invested in the CBD pet market through portfolio company Phyto Animal Health, which retails a number of CBD and hemp products developed specifically for pets. Recently another Medical Marijuana, Inc. subsidiary, Kannaway, began distributing a line of CBD supplements for pets. Dante’s Pure Hemp Oil was featured in coverage by Oracle Dispatch.
You can find more coverage of Medical Marijuana, Inc. and our family of companies here, or visit our news feed for the latest developments from our portfolio.