On the long list of leading celebrities showing their open stance to adopting medical marijuana, one you may not suspect, but can now count as a true advocate is former NBC news anchor Tom Brokaw.
Brokaw, who says that he is using medical marijuana to treat specific disease, joins the string of famous people who claim the weed’s benefits.
Cannabis companies have seen positive feedback and changing attitudes and new support that is influencing lawmakers across the country. The companies are experiencing tremendous growth as a result, including MedReleaf Corp. (OTC: MEDFF), Canopy Growth Corp. (TSX: WEED) (NYSE: CGC) and GW Pharmaceuticals (NASDAQ: GWPH).
It’s becoming obvious that the tide has turned with regard to public perception of medical marijuana use, despite many lawmaker’s opposition to the substance. Other famous names turned advocate as the plant’s medicinal use has gained favor include Patrick Stewart, Michael J. Fox and Montel Williams, to name a few.
As a result of the shifting tide, specialized companies are looking to move into the medical segment by developing formulations, extracts and supplying marijuana based on their Licensed Producer status. Among these, MYM Nutraceuticals Inc is a showcase, building towards medical application. MYM Nutraceuticals Inc. (CSE: MYM) (OTC: MYMMF) has announced it is developing some of the world’s largest cannabis greenhouses, as well as diversified interests in cannabis derivatives, formulations and most recently, producing cannabis in Australia, Columbia and complimentary hemp operations in the United States.
Hemp, as many realize, is now legal to produce in the United States and transport, making it a newly viable crop under the federal law passed in 2018.
Tom Brokaw is a Classic Adopter Turned Advocate
Brokaw’s story is not unlike many others suffering from a litany of common diseases and painful conditions, such as chronic backpain.
Brokaw, who is now aged 79, is the famous former news anchor of NBC nightly news and a historic figure in broadcast. He is reported to be in remission from a form of cancer known as multiple myeloma. He says that the pain has been so “excruciating,” he’s had to look to an alternative to deal with the pain, one that is endorsed by a growing number of cancer patients and celebrities with pain-related conditions.
In his own words, “I’m now on medical marijuana,” Brokaw explains.
Brokaw officially released the news in a video on the cancer information site Survivor Net. Fortunately for Brokaw, he is a resident of Florida which is one of the 33 states in the nation that have adopted lenient medical marijuana laws.
Tom Brokaw was originally diagnosed with multiple myeloma in 2013. The disease is known for its pervasive growth which causes cancer cells to cluster in bone marrow. At one point, Brokaw was medevacked to the Mayo Clinic as the cancer made its way through to his pelvic bone. He has endured years of treatment, which in his case includes chemotherapy along with a serious spinal operation. Reports say that the cancer is now under control, but Brokaw tells how the events have left him with lasting pain in his bones. He chose medical marijuana as a means to control the pain.
Survivor Net’s CEO Steve Alperin says that demand for more information on medical marijuana is exploding in recent years. He believes that having someone like Brokaw come out with his experience will “help people understand there are alternative approaches to pain management,” Alperin says.
Changing Attitudes and Wider Adoption are Driving Demand
According to a recently released report from Marijuana Business Daily titled "Marijuana Business Factbook 2017," the U.S. legal cannabis industry is expected to grow by an aggregate of 300% between 2016 and 2021.
Much of the growth taking place is being driven by the change in attitudes towards the use of marijuana for medical applications like Brokaw’s. This, in turn, has created a kind of race to create new product and increase the distribution of what are becoming mainstream products – many that use cannabis and hemp or extracts.
Companies like early participant MYM Nutraceuticals are seeking to use revenue streams from various operations in the cannabis space to pursue the lucrative medical marijuana segment. Their strategy is based on superior growing technology, well-crafted branding and innovative distribution opportunities.
Their plan is aimed at focusing in the medical industry – which they are looking to achieve by capitalizing on revenue streams they control. For instance, MYM is engaged in the development of seed and live tissue culture, which they can sell independently through a variety of different seed banks around the world. They also have a number of large grows in Canada and abroad, which they produce flower for, and have the capability of carrying out extraction with down to oil.
MYM Nutraceuticals also have a manufacturing facility in its final stages of completion that will allow the company to produce final consumables in the forms of transdermal patches, pills, tinctures, things of that nature for humans.
Through its various joint ventures, the company is currently building three large-scale production facilities in both Canada and Australia. Upon completion of these three projects, the total amount of greenhouse growing space is expected to exceed 2.7 million square feet. MYM management states that it is actively looking to acquire complementary businesses and assets in the technology, nutraceuticals and CBD sectors.
The Martha Stewart Effect on Cannabis
The influence of celebrities is having a serious effect on public perception. Even Martha Stewart has taken her unique brand to help gain acceptance in treatment for pets in a collaboration with the largest cannabis producer in Canada.
Brokaw’s usage reflects a growing number of cancer patients and other chronic pain sufferers who use the medical cannabis for symptoms like pain. In a report in the Journal of Palliative Medicine, researchers from NYU say that cancer patients were more likely to favor forms of medical marijuana with higher amounts of THC (tetrahydrocannabinol), rather than, non-psychoactive CBD (cannabidiol).
They reiterate that the growing interest from cancer patients underscores the need to support further studies and get accurate data on the substance in all its many forms.
Brokaw says the relief will help him to not just maintain his quality of life, but continue to enjoy it, too.
“I didn’t want my friends coming around and wringing their hands — I didn’t want to be the victim,” Brokaw says. He is reportedly making plans to travel with his children and grandchildren.
Companies that stand to benefit greatly from the increased adoption of medical marijuana and the demand for supplies it creates include:
MedReleaf Corp. (OTC: MEDFF) sets The Medical Grade Standard for cannabis in Canada and around the world. The first and only ISO 9001 certified cannabis producer in North America, MedReleaf is a R&D-driven company dedicated to patient care, scientific innovation, research and advancing the understanding of the therapeutic benefits of cannabis.
Canopy Growth Inc. (TSX: WEED) (NYSE: CGC) is the world’s largest diversified cannabis company. Canopy boasts a wide offering of distinct brands and curated cannabis varieties in dried, oil and capsule forms.
GW Pharmaceuticals (NASDAQ: GWPH) successfully developed the world’s first prescription medicine derived from the cannabis plant, Sativex®, now approved in over 29 countries outside of the United States for the treatment of spasticity due to Multiple Sclerosis.
For a more in-depth look into MYM you can view the in-depth report at USA News Group: https://usanewsgroup.com/2019/04/10/the-top-unicorn-sectors-for-stock-traders-in-2019/
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