CBD pet market sees soaring sales

CBD pet market sees soaring sales

By Ivan MorenoHemp Industry Daily

A December 2019 Nielsen study found pet owners are looking to CBD to help their four-legged companions with:

  • Back and joint pain.
  • Episodic and chronic anxiety.
  • Stress.
  • Arthritis.
  • General health and wellness.

Luke Mullins, vice president of sales at Mary’s Tails, told Hemp Industry Daily that the company is in 1,000 retailers nationally, with plans to double that by year’s end.

Mullins notes that Mary’s Tails is careful about how they describe their products to avoid the warning letters the FDA has sent to “unscrupulous operators” that make claims that are not scientifically proven.

“We believe that our tagline – keeping your pets happy, healthy and calm – is a great summation of our products’ benefits,” Mullins said, adding that that they are mindful of the parameters federal agencies have set.

So while we believe in the value and efficacy of all of our products, we are not permitted to speak to those concepts,” he said.

Education is key

Despite the increase, there’s still a lack of knowledge from consumers about CBD for their pets and how to use it properly, Lange said.

“A lot of people don’t know that pets and humans or dogs and humans share the same endocannabinoid system,” she said. “I think a lot of people think of CBD as cannabis, thinking probably it could make their dog high.”

Gordon, from Functional Remedies, said veterinary clinics have been instrumental about educating the public.

“I think that is really where we’re seeing a turn from,” he said. “Yes, you can go buy them in retail, but you can also go buy them now from a trusted source, and that being your veterinarian who also wants these products on the shelf as well.”

In fact, Nielsen surveyed 100 veterinarians in April and found that they have a greater awareness than physicians about CBD, “at an incidence double that of physicians,” Lange said.

The FDA hasn’t given veterinarians the go-ahead to sell CBD, but it appears some are doing it anyway, although it’s unclear how many.The American Veterinary Medical Association asked for guidance from the FDA on whether cannabinoids can be safely given to pets and farm animals during an agency hearing last May.“The FDA should clearly articulate where various cannabis-derived products fall,” Dr. Ashley Morgan said.Morgan inadvertently got the whole 500-seat room laughing when an FDA panelist asked if veterinarians are giving pet owners CBD. “No,” Morgan said. After a long pause, she added, “Not legally.”

Gordon said he uses CBD on his own pets.

“I want to give them the ultimate care, just like my own children,” he said.

Ivan Moreno can be reached at ivanm@hempindustrydaily.com

See the entire story here on Hemp Industry Daily



Scientists believe cannabis could help prevent and treat coronavirus By Lee Brown

This is the most exciting news to wake to this Friday May 22nd, 2020, coming straight from the highly revered NYPOST –

They have high hopes for a coronavirus breakthrough.

A team of Canadian scientists believes it has found strong strains of cannabis that could help prevent or treat coronavirus infections, according to interviews and a study.

Researchers from the University of Lethbridge said a study in April showed at least 13 cannabis plants were high in CBD that appeared to affect the ACE2 pathways that the bug uses to access the body.

“We were totally stunned at first, and then we were really happy,” one of the researchers, Olga Kovalchuk, told CTV News.

The results, printed in online journal Preprints, indicated hemp extracts high in CBD may help block proteins that provide a “gateway” for COVID-19 to enter host cells.

Kovalchuk’s husband, Igor, suggested cannabis could reduce the virus’ entry points by up to 70 percent. “Therefore, you have more chance to fight it,” he told CTV.

“Our work could have a huge influence — there aren’t many drugs that have the potential of reducing infection by 70 to 80 percent,” he told the Calgary Herald.

While they stressed that more research was needed, the study gave hope that the cannabis, if proven to modulate the enzyme, “may prove a plausible strategy for decreasing disease susceptibility” as well as “become a useful and safe addition to the treatment of COVID-19 as an adjunct therapy.”

Cannabis could even be used to “develop easy-to-use preventative treatments in the form of mouthwash and throat gargle products,” the study suggested, with a “potential to decrease viral entry” through the mouth.

“The key thing is not that any cannabis you would pick up at the store will do the trick,” Olga told CTV, with the study suggesting just a handful of more than 800 varieties of sativa seemed to help.

All were high in anti-inflammatory CBD — but low in THC, the part that produces the cannabis high.

The study, which has yet to be peer-reviewed, was carried out in partnership with Pathway Rx, a cannabis therapy research company, and Swysh Inc., a cannabinoid-based research company.

The researchers are seeking funding to continue their efforts to support scientific initiatives to address COVID-19.

“While our most effective extracts require further large-scale validation, our study is crucial for the future analysis of the effects of medical cannabis on COVID-19,” the research said.

“Given the current dire and rapidly evolving epidemiological situation, every possible therapeutic opportunity and avenue must be considered.”

Reposted from the NYPOST

Editor’s note: ‘Please note, full spectrum Cannabis with THC can be even more powerful for deep balancing of our endocannabinoid system which balances the endocrine system while reigniting our immune system. Cannabis has been used for thousands of years as the go to herb throughout the world. It has been less than 100 years since Cannabis became demonized and outlawed by those who rule with greed and power!’ states Darlene Mea CEO & Founder of HemingtonPost.com

Magic Mushroom Advocates Seek to Emulate the Rise of CBD

Magic Mushroom Advocates Seek to Emulate the Rise of CBD

NEW YORK, May 7, 2020 /PRNewswire/ FinancialBuzz.com News Commentary

Any time we see the power of psilocybin being brought to the forefront of life, I am personally very delighted ! I am a ‘whole plant healing’ researcher and I know the benefits of both psilocybin and cannabis. So the fact that the FDA is looking means we are taking leaps and bounds in this promising future of the magic in mushroom and cannabis! Life is unfolding in some areas of reality in amazing ways, for this we can be grateful… If you’re not familiar with the powerful effects of psilocybin on our Mind Body and Spirit watch Fantastic Fungi!

Data indicates that psychedelics are gaining popularity. For example, in 2019, the Global Drug Survey collaborated with psychedelic researchers to examine the acceptability of psychedelic products and other drugs such as MDMA (ecstasy) and ketamine in the field of psychiatry. “We found high rates of acceptance especially among those with prior experience of using them, although fears based on myths and outdated science, were evident among psychedelic-naïve respondents,” the survey conclusion shows. Just earlier last year the U.S. Food and Drug Administration (FDA) approved Spravato (esketamine) nasal spray, in conjunction with an oral antidepressant, for the treatment of depression in adults who have tried other antidepressant medicines but have not benefited from them (treatment-resistant depression). Now as states begin to mull the question of psilocybin’s legality, this new field of potential medicinal substances may follow a comparable pathway to legalization with the cannabis medical market.

The growing awareness of cannabidiol, or CBD’s, health benefits has pushed the market into mainstream retail. And yet, despite its growth of recent years, it is important to remember that cannabis products are still illegal in the U.S on the federal level. This regulatory hurdle is one of the last remaining obstacles that has been holding the industry back to a certain degree. “There is plenty of room for growth here,” believes Confident Cannabis VP of Growth & Marketing Brad Bogus according to a report by Civilized. “CBD is sort of stuck in between prohibition era policies and federal acceptance. We just saw the first cannabis derived FDA approved medication make its way onto the market, which is a CBD medication. Where it goes from here in the world of Big Pharma is hard to say, but the direction will be up, in some velocity. Seniors are more keen to try a CBD product over a THC product, so even on the regular non-pharmaceutical market, CBD will still snag a good portion of untapped market share. International trade of source material is another big advantage of the CBD market, to help it grow.”

see the full story Here https://www.prnewswire.com/news-releases/magic-mushroom-advocates-seek-to-emulate-the-rise-of-cbd-301054590.html

Cannabis Business Reality – Conference Agenda Mismatch

Cannabis Business Reality – Conference Agenda Mismatch

Cannabis Business Reality – Conference Agenda Mismatch

Cannabis Business Reality

Cannabis Business Reality – Conference Agenda Mismatch – For those of you who read our post regularly, it is no surprise that we have been “beating a drum” over problems within the cannabis industry in California that focus on licensing and the underground market.  Unfortunately, they are the real problems and may not seem much like “news”.  We thought it would be a worthwhile break to take a moment to note developments on other fronts. [We have written extensively in connection with our speculation about changes in the law at the Federal level [See Federal Legalization Then What? ] and we have commented “ad nauseam” regarding our views on the problems that California created for itself with licensing.

We have made some observations relating to how some of these problems might be corrected – most recently yesterday in Cannabis Lawyer – Dangerous? And previously in Carrot and Stick!   Rather than restate today’s news we will quote from two CNBC articles describing broad-based developments which is a practice we usually avoid.

“U.S. lawmakers weighed reforming pot laws in what advocates called a “historic” hearing Wednesday, with numerous members of Congress saying they wanted to loosen federal laws, even legalize marijuana.

“Marijuana decriminalization may be one of the very few issues upon which bipartisan agreement can still be reached in this session,” said Rep. Tom McClintock, R-Calif., adding “it ought to be crystal clear to everyone that our laws have not accomplished their goals.”

Eleven states have legalized adult recreational use and a majority of Americans support legalization. A number of bills are on the table that would reform federal marijuana laws. The House Judiciary Subcommittee on Crime, Terrorism and Homeland Security sought input on how to reform federal laws in a hearing Wednesday titled “Marijuana Laws in America: Racial Justice and the Need for Reform.

“There is a growing consensus in this country that current marijuana laws are not appropriate and we must consider reform,” said Rep. Karen Bass, D-Calif. “Today’s hearing is the first step in that process.”

Despite the optimism, lawmakers did not appear to have a clear consensus on the best approach, such as whether to give states the right to legalize on their own, remove marijuana from schedule 1 of the Controlled Substances Act, legalize it or include promote social and racial equity in marijuana laws.

The STATES Act is among the most popular cannabis bills. It would amend the Controlled Substances Act and exempts state-approved marijuana activity from federal enforcement.

Proponents say the legislation would eliminate federal concerns in states where marijuana is legal. Yet some say the bill does not go far enough because it does not address any racial or social concerns.”

Source: US lawmakers look to legalize pot in ‘historic’ marijuana reform hearing

Cannabis Business Reality – Conference Agenda Mismatch

“There is a bright spot in cannabis revenue growth in Colorado. On Jan. 1, 2014, Colorado launched what many considered a controversial experiment: It became the first state in the country to legalize recreational cannabis. No one was sure how things would play out. Would new entrepreneurs enter the market? Would people stop buying from the black market? Would crime rates fall? Now, more than five years after the first pot shops opened their doors in Colorado, it’s clear the experiment has been a success.

On June 12 the state announced that it surpassed $1 billion in total cannabis-related revenue, the first state in the country to hit that milestone. Companies also have made more than $6.5 billion in sales over the last five years, with April and May of this year the highest-grossing months since legalization.

Per-person sales are also highest in Colorado, with people buying, on average, $280 worth of cannabis per year compared to $220 and $130 for Washington and Oregon, respectively, the second and third states to legalize weed, according to Scott Willis, head of research at Grizzle, a New York-based investment research company.

Much of the legal marijuana market revenue, which accounts for about 3% of the state’s $30 billion budget, goes toward education, health care, literacy services, and drug prevention programs.

In California, a state that should have swiftly raised millions in revenue, considering the size of its population, cannabis legalization has mostly been a dud. Cannabis consumers can’t purchase pot in 75% of the state’s city and counties, while high taxes are impeding legal growth and allowing the black market to expand.

California Gov. Gavin Newsom’s recent state budget plan slashed cannabis tax-revenue projections by $223 million. In the first half of 2018, revenue was $101 million below what was expected. According to reports, California charges a 45% tax on legal cannabis businesses when all taxes are taken into account, a finding that led to calls for a major tax rethink to better compete with the black market.

In Colorado, growers have to pay a 15% excise tax when their product is transferred from cultivation facility to retail store, while consumers have to pay a 15% sales tax on the purchase of cannabis. That’s mostly in line with other states, though Washington has a 37% sales tax.”

Source: Colorado grows annual cannabis sales to $1 billion as other states struggle to gain a market foothold

Cannabis Business Reality – Conference Agenda Mismatch

We note that the National Cannabis Industry Association [“NCIA”] is holding its annual Cannabis Business Summit and Expo in San Jose, California on July 22 – 24.  We have read the list of speakers [it includes most of the “luminaries” that appear at just about every event on the “cannabis tradeshow circuit” and the descriptions of keynote speeches, seminars, and panels.

We were stunned at the lack of substantive sessions that address the Federal legalization issues [thankfully, the Cannabis Trade Federation has stepped in as the adults dealing with Federal policy and legislative action].

We were also stunned to see the program is DEVOID of significant substantive content addressing:

Problems with cannabis business licensing in California

Discussion of a coordinated approach to shrink California’s, Black Market

Substantive discussion of the licensing debacle in Los Angeles

Substantive discussion relating to Cannabis Cooperative Associations [“CCAs”] – which would dovetail nicely with the session – “Understanding Vertical vs. Horizontal Integration in a Changing Legal Landscape

Finally, we were stunned to see a session entitled Advice from the Experts on How to Work with California Regulators“. Regulators need to interact with practitioners, and our thought is that there should be a couple of experienced practitioners on that panel.

We have always been hopeful that cannabis business conferences would evolve to better address the “real world” problems faced by legal cannabis businesses.  Unfortunately, the real change appears to move at a glacial pace.  [See CCIA Policy Conference What’s Missing?]

Cannabis Business Reality – Conference Agenda Mismatch