Cannabis stocks could see new highs this year. Fueling momentum, Jazz Pharmaceuticals (NASDAQ:JAZZ) said it would acquire GW Pharmaceuticals (NASDAQ:GWPH) to help strengthen its neuroscience business with GWPH’s cannabis-based epilepsy treatment. That also set in motion strength in other cannabis-related stocks, like Cara Therapeutics Inc. (NASDAQ:CARA) and Tilray Inc. (NASDAQ:TLRY).
In addition, new research shows lower opioid deaths where cannabis is legal. In fact, according to Health Line, “New research found that U.S. counties with more legal cannabis dispensaries had lower rates of opioid-related deaths.”
Cannabis stocks are even higher on news Senate Democrats will make reform a top priority.
“We are committed to working together to put forward and advance comprehensive cannabis reform legislation that will not only turn the page on this sad chapter in American history, but also undo the devastating consequences of these discriminatory policies,” said Senate Majority Leader Chuck Schumer (D-NY), Senate Finance Committee Chairman Ron Wyden (D-OR) and Sen. Cory Booker (D-NJ), as quoted by Marijuana Moment.
That News is Fueling Momentum for Plus Products (CSE:PLUS)(OTCQX:PLPRF), As Well
Plus Products Inc., a cannabis and hemp branded products company in the U.S., today announced that it has entered into a partnership with CannRx Biosciences, a leading Israeli cannabis firm in the boutique field of cannabis-based botanical medicine, to enhance the onset of the Company’s products.
CannRx, operating out of their research lab in Tel Aviv, Israel, has created a solid nano-particle water soluble technology, using proteins to improve the bioavailability of cannabinoids and terpenes. CannRx has replicated the body’s natural and sophisticated protein-based transport system which facilitates delivery of active compounds through the body and tailored this process specifically for cannabinoids.
CannRx is led by Dr. William Levine, Founder and Chief Scientific Officer, who was selected by Cannabis and Tech Today as Innovator of the Year in 2019.
PLUS and CannRx intend to leverage the patented CannTrap technology to create products with more controlled onset and offset times of THC and other cannabinoids. The technology has applications across multiple form factors including gummies and beverages, and is expected to increase formulation opportunities across PLUS’s growing portfolio, reduce the dose needed for desired effect, and increase speed of onset.
“PLUS is committed to quality and innovation,” stated Dr. Levine. “The CannRx team is excited about our partnership with PLUS and we look forward to bringing innovative, high quality products to the cannabis market.”
“We are excited about the relationship with CannRx and their research team, and the opportunity to further advance the science behind our products,” stated Jake Heimark, CEO and Co-founder of PLUS. “Israel leads the way in cannabis research and the industry is ripe for innovation. We believe that consumers want to take control of how quickly they can feel the effects of cannabis. Our goal is to put them in the driver’s seat for the experience, from start to finish.”
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