130
Topical forms of consumption have recently been introduced by Whistler Medical Marijuana, which is 21.5% owned by Cronos Group (TSX-V:MJN), and is being sold to its patients at this time as it was able to categorize its topical product as an oil. Canopy Growth Corporation, through its subsidiary Canopy Health Innovations (which on December 21, 2016 secured $7 million through private placement), has recently partnered with Delivra to develop its own topical product. Delivra currently sells its popular LivRelief topical pain cream and the plan is to develop a product that is infused with cannabis in the near future. In their press release, Bruce Linton reiterates that product specialization through “defining, in clinical terms, how to apply specific cannabis profiles and delivery systems to certain conditions can drive physician acceptance and grow the market at the same time.”
Women are also less inclined to say that vaporizing is a healthy alternative to smoking (59% vs 72%) and data has suggested that women are choosing topicals and edibles at a higher rate due in part to having more of a desire to consume using a healthier method that will have less of an impact on overall health.
In an age where smoking is on the decline, even millennials are choosing healthier alternatives, with almost 40% choosing some other form to consume cannabis, vaporizing being the most popular in that “other” category.
As previously noted in my April 2017 CannaInvestor Magazine Canada article on edibles, there is significant potential for higher margins with cannabis infused products.