Since Jan. 1 when California legalized recreational weed use, companies in the weed industry added approximately $2 billion in value.
This was a result of the fact that several other states are in the process of legalizing and Californian cannabis dispensaries have experienced a surge in the demand of weed.
Also, it results from Canada’s plans to legalize pot by July this year. It will become the second country just after Uruguay to legalize the substance.
As much as California and other US states have legalized marijuana, it is still considered a Schedule 1 substance under federal law alongside cocaine, heroin, and other drugs.
We have listed a few companies that we feel have unique business models and technology for sustained success within the weed space.
Vitality Biopharma, Incorporated (OTC)
The company has developed a new category of cannabinoid drugs, known as cannabosides, which patients take so their gastrointestinal tract can selectively have CBD or THC delivered to it.
The site-specific delivery could make it possible for ingested cannabinoids to provide healing benefits while avoiding or reducing the systemic delivery of THC into the circulatory system. This will help to improve cannabinoids to better treat pain and inflammation as having high concentrations of THC in the brain has been proved to limit their ability to serve this purpose.
GW Pharmaceuticals plc (NASDAQ)
GW Pharmaceuticals plc operates in Asia, Canada, Europe, and the United States.
In collaboration with its subsidiaries, it works to discover, develop, and commercialize weed prescription drugs. It operates through the Commercial, Pipeline Research and Development, and Sativex Research and Development segments.
Cara Therapeutics Incorporated (NASDAQ)
This is a clinical-stage biopharmaceutical company specializing in the development and commercialization of chemical entities for alleviating pruritus and pain by selectively targeting kappa opioid receptors in the US. Cara’s scientists are in the process of coming out with molecules to single out and modulate CB receptors without impacting the functioning of CNS cannabinoid receptors. It plans to initially develop peripheral CB receptor modulators to relief of inflammatory and neuropathic pain. Cara’s most advanced CB compound is CR701 that’s currently in development.
As well, they are developing weed-based product candidates including I.V. CR845 that target the body’s peripheral nervous systems.
INSYS Therapeutics Incorporated (NASDAQ)
This is a pharmaceutical company that specializes in the development and commercialization of supportive care products. Currently, they have two FDA-approved marijuana-based drugs and have already applied for seven others to be approved. Perhaps, their commonest product is “Syndos,” a pharmaceutical formulation of THC for helping patients with anorexia symptoms that are common in AIDS patients.
Aurora Cannabis Incorporated (ACB.CN) (OTC)
Based in Vancouver, Canada, this company specializes in the growth, harvest, and sale of medical weed in Canada. Aurora obtains water for their 55,200 sq. ft. marijuana facility from the Canadian Rocky Mountains.
The company specializes in providing their customers high-quality weed at cheap pricing. Patients are required to register with them to get $5/gram composite pricing, $8/gram strain pricing, and $50 weed credit. It provides marijuana delivery services free of charge to customers within Canada and influences future strains and products.
AbbVie Incorporated (NYSE)
This company specializes in discovering, developing, manufacturing, and selling pharmaceutical products globally. One of their brands “Marinol” is FDA-approved for treating nausea in cancer patients undergoing chemotherapy as well as boosting appetite in AIDS patients taking antiretroviral medication. This drug contains synthetic THC and is orally taken as a capsule.
The company also produces several other drugs that it sells to cannabis dispensaries near me, independent retailers, wholesalers, government agencies, specialty pharmacies, distributors, and healthcare facilities from its public warehouses and distribution centers.
mCig Incorporated (OTC)
This company that manufactures, advertises and distributes vaporizers, electronic cigarettes, and accessories under the VitaCig and mCig brand names in the US. It offers a large variety of electronic cigarettes and related products via their website mcig.org, as well as through offline outlets including retail programs, wholesales, and distributors.
They also provide a wide range of weed grower services including wed business consulting, commercial grow room designing, greenhouse grows, personal home grow room units and warehouse customization.
The Scotts Miracle-Gro Company (NYSE)
This company is renowned for the manufacture, marketing, and sale of an extensive line of garden and consumer lawn products on global scale. They have tens of brands names including Scotts, EX Seed, EverGreen, and Whitney Farms.
CEO Jim Hagedorn wants to focus more on hydroponics as he believes they will provide more support for the weed industry, which he supports.
Canopy Growth Corporation (CGC.V) (OTC)
Through its subsidiaries, the company produces and sells weed for medical purposes in Canada. They have a big variety of strains and diverse brands, thanks to their over 0.5 million sq. ft. indoor greenhouse production capacity. They offer CBD and cannabis products under the Bedrocan and Tweed brands.
This company is the largest grower of weed for medical purposes in Canada. Canopy Growth also has an online store.
Zynerba Pharmaceuticals (NASDAQ)
This company specializes in the development and commercialization of proprietary synthetic cannabinoid therapeutics formulated for dermal delivery.
Now that marijuana is getting more popular, investors are becoming more attracted that before. With the initial uncertainty getting out of the way, investors are now free to begin investing in companies dealing in weed and weed products such as cannabis dispensaries near me. With the initial phase over, we are waiting for the second and subsequent ones. This industry is here to stay as more and more states and nations are planning to legalize the substance.