Hemp’s Resurgence Continues as the FDA Hones in on CBD

CBD has garnered a strong reputation for its wide range of potential health benefits. However, it has only been approved to treat childhood epilepsy syndromes, such as Dravet syndrome and Lennox-Gastaut syndrome after the U.S. Food and Drug Administration approved Epidiolex, making it the first approved cannabis-based drug, last year. The FDA has made clear that additional research is required in order to advance with more approvals. The Administration has also held numerous public hearings in recent years in order to further understand the efficacy of CBD. And while only one cannabis-based drug has been approved, the efforts of the FDA indicate that CBD is gathering a strong momentum as a possible medical substance. “As legislation expands rapidly worldwide, the volume of efficacy data is growing, as are legitimate clinical trial studies,” says Liam McGreevy, Chief Executive Officer of Ethnopharm, a European cannabis company specializing in genetics and distribution, “This data will enable us to better understand the effects of the various cannabinoids and terpenes, their synergistic effect and how their impact links to the individual’s genetics or biomarkers. This data is key to understanding the most effective combinations and strengths for various conditions, moving towards targeted personalized medicines.” And according to data compiled by Acumen Research and Consulting, the global cannabidiol (CBD) market is projected to reach USD 22 Billion by 2026 while exhibiting a CAGR of 33% over the forecast period, from 2019 to 2026. Cardiol Therapeutics Inc. (OTC: CRTPF) (TSX: CRDL), Tilray, Inc. (NASDAQ: TLRY), Cronos Group Inc. (NASDAQ: CRON), Innovative Industrial Properties, Inc. (NYSE: IIP), Organigram Holdings Inc. (NASDAQ: OGI)


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