United Cannabis Secures Approvals to Begin Producing CBD Products in Jamaica
July 12th, 2017
News, Top News
The global cannabis industry is rapidly expanding with the legalization of medical and recreational marijuana worldwide, but the cannabidiol (CBD) industry is perhaps the most promising subset of the industry. With a growing body of research showing potential benefits across many medical conditions, investors may want to keep an eye on companies involved in the CBD space, particularly in global markets where these benefits are more widely accepted.
In this article, we will look at United Cannabis Corporation’s (OTCQB: CNAB) recent approvals from Jamaica’s Ministry of Health that clear the way for production of its aromatherapy roll-on, capsules, and sublingual drop products.
United Cannabis successfully registered its aromatherapy roll-on, capsules, and sublingual drop products with Jamaica’s Ministry of Health through its subsidiary, Caribbean Research & Development Limited (CRD). The company will now secure facilities, hire and train staff, and establish the necessary contacts to begin production within 90 days. The company has earmarked $2 million to facilitate the necessary expansion and operations of CRD. For investors, this means that United Cannabis could begin generating revenue from these products later this year.
By manufacturing the products in Jamaica, the company takes advantage of agreements that the country has in place with other nations. Canada, Australia, and New Zealand have agreements in place that allow the purchase of hemp-based products from Jamaica. United Cannabis’ team has already started pursuing strategic partners and customers in those markets as a part of its efforts to build worldwide distribution channels.
There is also a potential cost-savings associated with doing business in Jamaica, as labor, construction, and operating costs tend to be lower there than in other markets where CBD products are currently manufactured. This could lead to a price advantage for United Cannabis in an industry currently dominated by Canadian-based firms.
“This is the culmination of a four-year effort by the management of United Cannabis to create a relationship with a supportive government in the Caribbean in order to give patients in the area access to improved, alternative health choices, greater access to research, and to create jobs and tax revenues for the local community,” said United Cannabis CEO Earnest Blackmon in a recent press release announcing the product registrations.
United Cannabis has developed several unique products designed to capitalize on the rapidly growing market for cannabidiol (CBD) products. The company plans to develop these products in conjunction with its local Jamaican team specializing in agricultural science and plant based medicine, while simultaneously continuing its work on genetic restoration, cannabinoid isolation techniques, scientific research, and educational programs.
The company’s aromatherapy roll-on collection is a holistic, solvent-free, botanical, transdermal oil made from ratio-specific whole plant cannabis oil, cannabis derived terpenes, almond oil, wild arnica, lavender flowers, juniper berry, and roman chamomile. Patients have found these products effective in managing the symptoms of conditions like arthritis, neuropathy, acute joint pain, muscle issues, migraines, and various skin conditions.
In addition to these products, the company’s Prana Sublingual Collection products are available in both raw and active formulations to deliver one-milligram doses of CBDs for patients. These drops are an alternative to the oral route and may be particularly useful when rapid onset of micro-dosing is desired with better patient compliance than oral tablets. And finally, the company’s capsules represent the most conventional delivery mechanism.
Patients can access these products through United Cannabis’ A.C.T. Now Program, a complimentary service that helps them assess their current medications and create a personalized plan with the help of a nurse. After undergoing a nurse-assisted assessment, patients can record their health conditions, schedule follow-ups, and fine-tune their medications via a robust HIPAA-compliant cloud-based platform. This end-to-end treatment system is designed to help individuals suffering from many conditions.
United Cannabis Corporation (OTCQB: CNAB) represents a compelling investment opportunity within the burgeoning CBD industry. Investors may want to take a closer look at the Company as it moves into production, particularly given its modest market capitalization. With its end-to-end patient-centric approach, the company is well positioned to capitalize on the market as it gears up for clinical trials in partnership with the Caribbean Institute of Medical Research.
For more information, visit the Company’s website at www.unitedcannabis.us.
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