A new report estimates the state’s legal cannabis industry will employ more than 63,000 people by 2025, about the same number of elementary school teachers in the state. The projection is included in a report published earlier this month by a cannabis research firm that predicts total pot jobs in the country could hit nearly 745,000 that year — if the drug remains illegal on the federal level and no additional states legalize it for recreational or medical use.Read More
In a landmark move, U.S. House lawmakers on Wednesday approved overwhelmingly by a 321-103 vote legislation that would pave the way for financial institutions and insurance companies to serve state-legal marijuana businesses without fear of federal reprisal.
Ninety-one Republicans voted for the measure, in a showing of strong bipartisan support.Read More
Total legal sales of cannabis in current legal states are projected to grow at a compound annual growth rate (CAGR) of 14% over the next six years, reaching nearly $30 billion by 2025. This figure takes into account the likely projection that more states will legalize. Currently, 33 states and D.C. have legal medical marijuana markets while 10 states (plus D.C.) have legal recreational markets.Read More
But this dampened enthusiasm for marijuana stocks does not necessarily reflect fading prospects for the marijuana market, which still has promise. Instead, it is related to short-term challenges associated with a bumpy rollout of legal marijuana in Canada, which are making it hard for winners to quickly emerge.Read More
According to information procured exclusively ahead of a formal announcement Friday, a subsidiary of NYSE-traded giant Teva Pharmaceuticals has signed a deal with medical cannabis company Canndoc to distribute its GMP products to pharma customers, including hospitals, health maintenance organizations (HMOs) and all pharmacies in Israel.Read More
The United States is feeling some North American peer pressure to get in on the cannabis boom.
Producers in Canada, where marijuana is legal for medicinal and recreational uses, are already planning for a future where pot is a globally traded commodity, and some are setting themselves up to profit if it is legalized in the U.S.Read More
In their study, published in the journal Frontiers of Oncology on July 23, the researchers revealed that a chemical found in cannabis has demonstrated “significant therapy potential” in treatment of pancreatic cancer.
The specific drug, called FBL-03G, is a derivative of a cannabis “flavonoid” — the name for a naturally-occurring compound found in plants, vegetables and fruits which, among other purposes, provides their vibrant color.Read More
Marijuana companies focused on the United States face “massive and unsustainable” valuation discounts relative to their Canadian counterparts, according to a new report.
It is staggering to think that forecasters have predicted that by 2025 the global cannabis industry will reach about $146bn, with the total market value of the SA cannabis industry amounting to about $1.8bn.Read More
While the number of merger and acquisition deals involving public companies as acquirers continues to outpace private ones, the percentage of overall M&A transactions involving public buyers is slightly lower in 2019 than year-to-date 2018, 71% versus 78%.Read More
Interest in cannabis jobs up over 600% since 2016, while postings rise fourfold.Read More
Imperial Brands said it will invest 123 million Canadian dollars ($93.4 million) in a British Columbia cannabis company, the United Kingdom tobacco giant’s latest foray into the marijuana industry.Read More
According to the National Institutes of Health, among all U.S. adults, nearly 40 million (17.6%) report suffering from severe pain, while about 25.3 million (11.2%) complained of experiencing daily pain throughout the previous three months. Chronic pain is more than an uncomfortable nuisance: People coping with severe pain had worse health, used more health care resources, and experienced more disability than other adults.Read More
With revenue of $8.6 billion-$10 billion, 2018 sales of legal recreational and medical cannabis in the United States topped spending on e-cigarettes, the Fortnite video game and Goldfish crackers combined.Read More
Illinois on Friday became the country’s first state to legalize recreational marijuana cultivation and sales through its Legislature, a landmark move that paves the way for the creation of one of the nation’s largest adult-use cannabis markets offering “huge” business opportunities.Read More
Aurora Cannabis Inc. shares rose Tuesday, after the Canadian company said it has entered a multiyear, multimillion-dollar agreement with mixed martial arts organization UFC to research the effect of hemp-derived CBD products on athlete recovery and wellness.Read More
The office cocktail trolleys of the “Mad Men” era are making way for cannabis happy hours in some states where the plant is legal. People across the country are turning to CBD when they want to relax during the day. Evenings of cannabis-focused meals and puffing and painting classes have become increasingly popular.Read More