Lastly, research is increasing to result in cannabis-based medicine, “real medicine, based on real science.” Included in this group are the clinical trials that the United Kingdom-based, GW Pharmaceuticals (GWPH) has underway under Food and Drug Administration (FDA) protocols for Epidiolex, which is a liquid formulation of pure plant-derived CBD. Epidiolex is being developed as a treatment for various orphan pediatric epilepsy syndromes. The FDA has granted GW Pharmaceuticals Orphan Drug Designation for the treatment of Dravet syndrome and Lennox-Gastaut syndrome, and “Fast Track” designation for the treatment for Dravet syndrome.
Cannabis-based pharmaceuticals are also being researched for other medical conditions and disorders including the treatment of Pain, sleep disorders, post-traumatic stress disorder (PTSD) and as an appetite stimulant for patients undergoing chemotherapy or suffering from AIDS. The objective of this research is to obtain government approval, from the FDA, or similar agencies in other countries, for sale of a cannabis formulation as a drug, which can then be sold through conventional drug distribution channels, including pharmacies.
Conclusion
My conclusion is that investors interested in the cannabis industry, and entrepreneurs seeking to start a business, should broaden their horizons. There are far more opportunities in the cannabis industry than just growing this plant, many of which are potentially more lucrative.
Jeffrey Friedland is an emerging market pioneer -- his firm, Friedland Global Capital, was one of the first American investment banks to establish a presence in China -- and is now on the front lines of the cannabis industry. In his book, Marijuana, the World's Most Misunderstood Plant, Mr. Friedland dives into the world of marijuana, discussing what we know and what we still hope to discover.
Mr. Friedland was an owner of two retail marijuana stores in Colorado which were located in the mountain resort towns of Breckenridge and Crested Butte, and a marijuana cultivation facility south of Steamboat Springs, which were featured in CNN's eight-part, 2015 reality series, High Profits.
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