Press Releases

Auto Added by WPeMatico

CBD Products Gain Attention as Chronic Pain Incidences Rises

NEW YORK, Feb. 11, 2019 /PRNewswire/ — Chronic pain is among one of America’s most commonly present medical conditions. Within the U.S., approximately 70 million suffered from moderate to high levels of chronic pain in 2016, according to data by the National Health Interview Survey. As a result, many were prescribed opioids as a treatment to mitigate the pain. However, in the long run, the mass prescription of opioids had resulted in an epidemic. In 2017, there were 47,600 cases related to opioid overdose which resulted in death out of the reported 70,200 overall overdose incidents. The rising number of cases prompted many countries to pass medical cannabis laws in order to reduce the number of people dependent on opioids. The therapeutic effects of cannabis are known to suppress pain, but are also linked to treating other medical cases such as cancer and epilepsy. Although, due to the lack of large-scale clinical trials, cannabis is not yet recognized as medicinal by the U.S. Food and Drug Administration. Now however, many companies are pouring investments in the industry to further develop the research and global expansion of cannabis. According to data compiled by Verified Market Intelligence, the global marijuana market was valued at USD 42.20 Billion in 2017 and is projected to reach USD 466.81 Billion. Additionally, the market is expected to grow at a CAGR of 35.3% throughout the forecast period from 2018 to 2025. Weekend Unlimited Inc. (OTC:WKULF) (CSE:POT), VIVO Cannabis Inc. (OTC:VVCIF), Nightfood Holdings, Inc. (OTC:NGTF), MYM Nutraceuticals Inc. (OTC:MYMMF) (CSE:MYM), PotNetwork Holdings, Inc. (OTC:POTN)

Despite the issue of federal legality revolving around medical cannabis, there are currently 33 states and the District of Columbia that have legalized cannabis for medical use. States are also allowing the use of many cannabis derivatives, such as CBD (cannabidiol), CBN (cannabinol) and THC (delta-9-tetrahydrocannabinol). CBD is one of the fastest growing segments in the cannabis market because it is the non-psychoactive derivative of cannabis and companies involved in both the medical and recreational markets are using CBD within their products. Hemp-derived CBD’s effects had even prompted government regulators to remove it from the list of Schedule 1 drugs, even though other cannabis components like THC still remain on the list. “CBD has a number of known properties beneficial to the human condition, and research is just beginning,” Aster Farms President Sam Ludwig told Civilized. “There are two markets for CBD: as a supplement, mild pain reliever and relaxant, and in larger doses, as a truly beneficial remedy for a variety of serious illnesses. There is no doubt it will be dominant supplement for years to come.”

Weekend Unlimited Inc. (OTC:WKULF) also listed on the Canadian Securities Exchange under the ticker (CSE:POT). Earlier this morning the company announced breaking news that, “announces the appointment of Mr. Karl Schmieder, MS/MFA., to the role of Director, Business Development and Tom Wisniewski, Vice President Sales Operations. As an executive and entrepreneur, Mr. Schmieder brings more than 25 years of business development success in biopharmaceutical and internet industries. Mr. Wisniewski brings more than 20 years of sales expertise in consumer-packaged goods, investment, real estate, telecommunications industries.

“Karl is a strategic thinker who will contribute to the development of new products, partnerships and services. Tom brings diverse leadership experience in sales and operations and will help drive our national and international growth,” said Mr. Paul Chu, President and Chief Executive Officer, Weekend Unlimited. “The addition of Karl and Tom helps strengthen Weekend’s management as we execute our growth strategy,” added Mr. Chu.

Mr. Schmieder co-founded messagingLAB, a strategy and marketing communications firm focused on the life sciences. He has successfully launched biotechnology companies and pharmaceutical products and services. He has held executive and business development positions at emerging digital health and leading strategy communications consulting firms.

Mr. Wisniewski is seasoned sales professional with extensive experience nationally and internationally. He has served as managing director of Rocket Holdings, a private investment and real estate group. In addition, Mr. Wisniewski served as field account manager at VHA Corporation and sales manager at Abmnus. Mr. Wisniewski is a pioneer in …

Full story available on Benzinga.com