Cannabis & CBD Retail Market To Reach $33 Billion In 2024

MARYLAND:  U.S. retail sales of cannabis and CBD products reached $14 billion in 2019, and are on pace to increase 18% per year to $33 billion in 2024, according to data published in Cannabis and CBD: U.S. Retail Market Trends and Opportunities, the latest report by leading market research firm Packaged Facts.

Cannabis products can be segmented by delivery format—i.e., the method by which the product’s desired compounds are ingested:

  • The most common delivery format, flower—smoked in the form of buds or pre-rolled cigarettes—accounts for nearly 40% of retail sales.
  • Another smokable product, vaporizer cartridges with concentrated THC or CBD compounds, comprises the second largest share. However, this share is falling as concerns about vaping-related lung illnesses rise and as states increasingly restrict sales of both nicotine- and cannabis-infused vaping products.

The fastest annual gains are projected for those delivery formats—namely edibles and topicals—that stand to benefit the most from federal legalization of hemp-based CBD. Major retailers—including foodservice establishments in certain states—are increasingly offering CBD-infused food, beverages, cosmetics, and toiletries that appeal to consumers because these products have the therapeutic benefits of CBD without the psychological effects of THC.

Other major delivery formats include tinctures, pills and capsules, and ingestible oils, which are used for both marijuana- and hemp-based products. Ingestible oils made from hemp seed oil (which does not include CBD or THC) have been available for decades and are used by health-conscious consumers for their purported nutritional benefits.

For more information on this emerging market purchase the report from our website.

NIH: Teen Marijuana Use Not Increasing Despite Legalization

MARYLAND: Self-reported marijuana use by adolescents has failed to increase in recent years despite the majority of states legalizing it for either medical or adult use, according to the latest data compiled by the University of Michigan’s Monitoring the Future survey, which is commissioned by the US National Institutes on Drug Abuse. NIDA is a part of the US National Institutes of Health.

Summarizing the findings in a press release, the agency acknowledged: “Rates of marijuana use by teens have been of great interest to researchers over the past decade, given major social and legislative shifts around the drug; it is now legal for adult recreational use in 10 states plus the District of Columbia, and it is available medicinally in many more. Fortunately, even as teens’ attitudes toward marijuana’s harms continue to relax, they are not showing corresponding increases in marijuana use.”

Marijuana use prevalence by young people did not change significantly between 2017 and 2018, the survey reported. Between the years 2012 and 2018, both rates of lifetime marijuana use and rates of annual marijuana use by 8th, 10th, and 12th graders have declined. Ten states have enacted laws regulating adult marijuana use during this same period of time, and several others have legalized medical cannabis access.


For more information, contact Paul Armentano, NORML Deputy Director, at: paul@norml.org. Further data is available from NORML’s fact-sheet, “Marijuana Regulation and Teen Use Rates.”

 

Maryland Medical Cannabis Forum Is Thursday, November 8, 2018

Presents an In-Depth Discussion of MMJ Research and Practice

MARYLAND – Maryland doctors can enhance their knowledge about medical cannabis treatment at the inaugural Maryland Medical Cannabis Forum (MMCF), on Thursday, November 8th in Baltimore.  The MMCF was created to provide to the Maryland medical community current and credible information on the state of medical cannabis research and practices–and how it affects the 35,000-and-growing Maryland MMJ patients. Discussion topics for the evening include:

  • The endocannabinoid system and its relation to treating diseases
  • Cancer case studies utilizing cannabis for symptom relief and pain management
  • Cannabis treatment for neurological disorders such as Alzheimer’s, epilepsy and autism
  • Cannabis and reduction in opioid dependency and other prescription medications
  • Proper dosing and understanding common side effects

The evening kicks off at 5:00 p.m. with a cocktail and hors d’oeuvres reception. The program begins at 6:30 p.m. with featured speakers Dr. Jokūbas Žiburkus (Canntelligence) and Dr. Dustin Sulak (Healer.com), followed by a panel discussion hosted by CNBC’s Tim Seymour and including Sid Taubenfeld of Tikun Olam’s TO Pharma and Joy Strand, Executive Director of the Maryland Medical Cannabis Commission, among others.

The MMCF is proud to have the support of MedChi (the Maryland State Medical Society), and sponsors including global medical cannabis brand Tikun Olam, MariMed Advisors and Kind Therapeutics to establish this event as a comprehensive and trustworthy forum for up-to-date information on medical cannabis for Maryland doctors to provide their patients. The registration fee for MMCF is $75, $50 for MedChi members; visit www.medicalcannabisforum.org.

Cannabics Pharmaceuticals Announces Positive Results for Pilot Study on Treatment of Cancer Anorexia-Cachexia Syndrome (CACS)

Preliminary findings showed +80% of patients had increase in appetite and 60% +10% weight increase

ISRAEL & MARYLAND: Cannabics Pharmaceuticals, a leader in personalized cannabinoid medicine focused on cancer and its side effects, announced the results of its pilot study to test the efficacy of Cannabics capsules for the treatment of cancer anorexia-cachexia syndrome (CACS) in advanced cancer patients.

Cannabics PharmaceuticalsHeld at Rambam Hospital in Israel, the study is aimed at evaluating the effect of dosage-controlled cannabis capsules on CACS, and more specifically, on weight variations in advanced cancer patients.

Preliminary findings showed that all patients who were involved in the study for the first four and a half months reported an increase in appetite, as well as 83 percent of all those that completed the study. Results also demonstrated a weight increase of over 10 percent for 60 percent of the patients who completed the study. The remaining patients had a stable weight. 50 percent of the patients who completed the study reported pain reduction and sleep improvement.

“Our first clinical trial, led by Dr. Gil Bar-Sela, gave us valuable data on the capsules as a possible oral administration method for palliative care and for our future proprietary cannabinoid compounds,” said Dr. Eyal Ballan, co-founder and chief technology officer of Cannabics Pharmaceuticals. “As we continue to progress in the development of personalized cannabinoid treatments and collect data on compounds, ratios and dosages, we will use the information to incorporate into the design of our next clinical study on cancer patients.”

 

IGC To Enter California Market With Hyalolex

MARYLAND: India Globalization Capital (IGC) has designated California as a priority market for Hyalolex, its lead cannabis-based supplement for treating and managing Alzheimer’s patients.

“The cannabis market is showing explosive growth and we are aggressively moving forward with our vision of owning and marketing the leading brands for large medical indications such as Alzheimer’s, Parkinson’s, PTSD, pain, veterinary medicine and cancer. With 8 patents filed, IGC has made significant strides towards achieving these goals and building value for our shareholders as a NYSE American listed company,” stated Ram Mukunda, CEO of IGC.

“California is considered to be the largest addressable U.S. market for cannabis with an environment that strongly embraces its acceptance. This represents a significant opportunity for Hyalolex and our brands, as such we are currently coordinating the necessary steps to efficiently and rapidly introduce our product to high-density regions in the state. It should be noted that according to U.S. Census data, California has an estimated population of 39.54 million and that total is larger than all of Canada,” continued Mukunda.

IGC’s management team has been actively meeting with California-based manufacturers and distributers to assemble the requisite combination of partners to efficiently bring Hyalolex to dispensaries, patients and caregivers in California. Our “Drops of Clarity” marketing program will highlight the potential benefits of Hyalolex as a supplement to cannabis physicians as well as to caregivers and patients via both a digital format and through grassroots outreach.

Maryland Hemp Distribution Bill Signed Into Law

MARYLAND:  Republican Gov. Larry Hogan has signed legislation into law expanding the state’s hemp production program.

House Bill 698 expands the state’s existing pilot program to explicitly permit for the distribution, marketing, and sale of hemp – both in state and out of state. Lawmakers had overwhelmingly passed the bill by a vote of 182 to 1.


For more information, contact Justin Strekal, NORML Political Director, at (202) 483-5500.

Cannabis Policy Reform Advocates Release Report Card Grading Candidates for Governor in Maryland

MARYLAND: The Marijuana Policy Project (MPP) released a voter guide Monday that grades Maryland gubernatorial candidates strictly on their positions and statements about cannabis policy. The report contains letter grades for each person running in Maryland’s Democratic Primary for governor in June and is based on answers to a questionnaire MPP sent to candidates, bill sponsorship, and their public statements regarding cannabis. The full report can be viewed here.

“There are real differences among the Democratic candidates when it comes to marijuana policy, from making a plan for legalizing marijuana a significant part of their campaign platform to declining to declare support for legalization at all,” said Kate Bell, legislative counsel for the Marijuana Policy Project. “In gubernatorial and other races across the nation, candidates are increasingly realizing that regulating marijuana is a winning issue. We hope that this guide will help inform the voters as they make their choice here in the June 26 democratic primary or in the general election.”

Sixty-four percent of likely Maryland voters support making cannabis legal for adults, according to a Washington Post-University of Maryland Poll conducted in September 2016.

In February, state lawmakers introduced bills to regulate cannabis for adults. If approved by 60% of both chambers of the Maryland Legislature, the bill would place a constitutional amendment on the November 2018 ballot that would make possession and home cultivation of limited amounts of cannabis legal for adults 21 years of age and older and require the state to establish regulations and taxation for a legal cannabis market, as well as to ensure diversity in the cannabis industry. The bill to refer the issue to the voters could not be vetoed by the governor.

Nine states and the District of Columbia have made cannabis possession legal for adults, and eight of those states regulate and tax cannabis similarly to alcohol. Bills to make cannabis legal have been introduced in 20 states this year, including Connecticut, Delaware, New Jersey, New York, and Pennsylvania. Michigan voters will likely be able to support a similar initiative on the November 2018 ballot.

 

Mary’s Medicinals Coming To Maryland Medical Cannabis Patients

COLORADO: MM Technology Holdings has announced  a partnership with Green Thumb Industries (GTI) to produce and distribute its line of Mary’s Medicinals cannabis products for patients across Maryland.

“Mary’s has developed a line of unique products with unparalleled quality, accuracy and an exceptional reputation for effectiveness,” said Ben Kovler, Founder and Chairman, GTI. “Patients deserve the choice of alternative forms of medical cannabis and we’re excited to bring this trusted, revolutionary, and highly-targeted suite of medical cannabis delivery options to the patients of Maryland. The patients in Illinois have had tremendous success with Mary’s and we look forward to providing the same access, options, and relief to thousands more.”

Mary’s Medicinals has established itself as one of the most trusted and innovative producers of canna-based products in Colorado, and has since expanded into additional states from coast to coast. Mary’s was first to offer THCa and CBN products, discovered harvesting techniques for the isolation of CBC, and continues to develop cutting edge approaches for isolating, manufacturing and delivering medicinal cannabis.

“The potential of cannabinoid therapies as a treatment for many conditions is enormous. However, the traditional cannabis products on the market today don’t appeal to all patients,” said Lynn Honderd, CEO of Mary’s Medicinals. “With Mary’s unique delivery and accurate dosing mechanisms, patients are finding relief that is more effective, more reliable and more targeted than anything else available. We’re pleased to expand our relationship with the highly-regarded and qualified team at GTI to help bring relief to the patients of Maryland.”

Study: Maternal Cannabis Use Not Associated With Adverse Neurodevelopment

MARYLAND: Cannabis exposure in utero is not associated with any significant, long-lasting adverse outcomes in offspring, according to a scientific review published online ahead of print in the journal Preventive Medicine.

A pair of researchers from the University of Maryland, Department of Obstetrics, Gynecology and Reproductive Sciences and the Virginia Commonwealth University, Department of Obstetrics and Gynecology and Psychiatry reviewed four prospective cohort studies evaluating the long-term health outcomes of in utero cannabis exposure.

They concluded, “The evidence base for maternal-infant health outcomes of cannabis use in pregnancy is more robust than for many other substances. … Although there is a theoretical potential for cannabis to interfere with neurodevelopment, human data drawn from four prospective cohorts have not identified any long-term or long lasting meaningful differences between children exposed in utero to cannabis and those not.”

A 2016 literature review published in the journal Obstetrics & Gynecology similarly reported that the moderate use of cannabis during pregnancy is not an independent risk factor for adverse neonatal outcomes such as low birth weight.

A 2017 study reported that maternal marijuana use was not independently associated with adverse effects on their children’s educational attainment. By contrast, maternal alcohol use was associated with detrimental educational outcomes in the cohort.

Revolution Enterprises Wins Preliminary Approval To Dispense Cannabis In Maryland

MARYLAND: Revolution Maryland Retail LLC received preliminary authorization to operate a medical cannabis dispensary in Maryland. Revolution Maryland Retail was awarded license pre-approval to operate in Maryland’s Senatorial District 34 following a competitive licensing process that drew 811 applications for up to 109 available licenses statewide. District 34 sits northeast of Baltimore along the Interstate 95 corridor, and encompasses a majority of Harford County.

“Our mission is to enhance the lives of our qualifying patients by providing them with superior medicine, education, and service,” says Revolution Enterprises Chief Operating Officer Dustin Shroyer. “Patients will enjoy a comfortable and familiar retail experience while having the opportunity to learn more about cannabinoid medicines that may improve their wellbeing.”

Revolution Maryland Retail LLC is a subsidiary of Illinois-based Revolution Enterprises, which has two of 19 cannabis cultivation licenses issued in Illinois. In Illinois, Revolution Enterprises owns and operates more than 150,000 square feet of state-of-the- art cannabis cultivation and processing facilities. Revolution Maryland Retail will benefit from access to the operating procedures perfected and intellectual property developed in the Company’s Illinois cannabis businesses.

“We are leveraging our expertise to advance Revolution’s brand nationally,” Shroyer says. “We look forward to planting the Revolution flag in Maryland and continuing to promote common sense solutions for improvements in health care.”

The Company is also exploring partnerships with Maryland licensed medical cannabis growers and processorsMaryland dispensary licensees have 365 days from date of pre-approval to implement their operations.