Privateer Holdings CEO Brendan Kennedy says the international medical marijuana industry is posed to become a $100 billion opportunity in a decade. Looking abroad, Kennedy says, Canada should become the first world power to legalize recreational cannabis at the federal level. Germany will become the second nation to legalize medical cannabis at the federal level, with insurance companies covering its use for many conditions, he says.
“Canada will be the first G7 nation, in 2017, to legalize, regulate and restrict access to recreational cannabis,” says Brendan Kennedy, president of B.C.-based marijuana producer Tilray. “The eyes of the world are on Canada, and it’s extremely important for Canada to get this right."
The randomised, placebo-controlled, double-blinded trial will test whether cannabis in the form of an oral, plant-derived capsule could be a safe and effective treatment. The pharmaceutical grade capsules developed by Canadian company Tilray contain consistent doses of cannabidiol (CBD) and minimises the amount of delta-9-Tetrahydrocannabinol (THC) - the component of cannabis that causes the 'stoned' effect.
Brendan Kennedy, the CEO of marijuana-business investment company Privateer Holdings and medical-marijuana producer Tilray, said he wants the government to allow firms to sell their product under their own brands, rather than as generic marijuana. He argued that is key to replacing the $7-billion black market for marijuana with a regulated supply from licensed producers.
Researchers at Toronto's Hospital for Sick Children are poised to begin a clinical trial using cannabis extracts to treat children with severe epilepsy whose seizures can't be controlled with existing medications. "There are severe developmental, cognitive, behavioural, and motor delays that happen when children have uncontrolled epilepsy," said Catherine Jacobson, director of clinical research at Tilray, a B.C.-based medicinal marijuana producer that will be providing the oral CBD-THC preparation for the clinical trial.
"We are committed to supporting our veteran patients as they navigate these changes by ensuring uninterrupted access to our high quality products," said Vice President of Patient Services Philippe Lucas.
Leafly has partnered with Green Bits, the painless point-of-sale (POS) for cannabis retailers and dispensaries, to give legal cannabis business owners an easier way to provide patients and consumers up-to-date menu information.