Wednesday, July 24, 2019

Marijuana news

See also :  marijuana stocks
As of Aug. 2019, nine states and Washington, D.C., have legalized recreational marijuana, while 29 states have legalized medical weed.
  • 8/19:  GW Pharmaceuticals (GWPH) has just revealed that sales of its Epidiolex drug topped Street expectations by over 50% ($68 million vs. $44 million) and doubled Q1 ($34 million).  GWPH recently launched Epidiolex, its flagship product, in the U.S. for congenital seizure syndromes known as Dravet and Lennox-Gastaut Syndrome. Given the drug’s favorable efficacy/safety profile, the significant unmet need, and positive physician feedback, investors had every reason to be hopeful. 
  • 8/02/19 Cronos Group (CRON) : agreed to buy parts of a company that makes premium hemp-derived CBD skin care products in the U.S., representing the latest effort by Canada's pot industry to stake out territory in the world's largest marijuana market.  Cronos said it would pay $300 million to acquire four subsidiaries of Redwood Holding Group, which makes and sells CBD skin care and other products under the brand name Lord Jones. Lord Jones sells and makes CBD-based body lotions, oils, bath salts, gum drops and other edibles. Outlets like Sephora sell those products.  Cronos already has a relationship with U.S. cannabis retail chain MedMen (MMNFF).
  • 7/31/19:  Canada-based cannabis name CannTrust (CTST) said it will undergo a strategic review, which includes a possible sale. This follows a C-suite shakeup earlier this month following media reports of illegal grow rooms. CTST stock jumped 9.5% on the news. (MarketWatch)
  • 7/25/19: Sweden's Supreme Court rules that cannabidiol (CBD) oil made from industrial hemp containing any amount of the psychoactive compound tetrahydrocannabinol (THC) is a drug. The ruling effectively bans the retail sale of CBD oil in the country.
  • 7/12/19: Innovative Industrial Properties (IIPR) announces public offering of 1.25 mln shares of common stock. The company intends to use proceeds to invest in specialized industrial real estate assets that support the regulated cannabis cultivation and processing industry that are consistent with its investment strategy as well as for general corporate purposes.
  • 7/7/19: Canopy Growth (CGC) Founder Bruce Linton was ousted from his role as co-CEO. He did a great job scaling the largest cannabis company in the world, but Constellation Brands (STZ) sought a more sound operational manger for the next phase of growth at its multi-billion dollar cannabis investment.
  • 7/12/19: CannTrust (CTST) implements voluntary hold on sale and shipment of all cannabis products as a precaution while Health Canada visits and reviews its Vaughan, Ontario manufacturing facility. CannTrust placed a hold on medical sales through their customer service line and online as of 11:59 p.m. on July 10. CannTrust is working closely with the regulator through the review process and expects to provide further detail of the duration of the hold and other developments as they become available.  CannTrust announced that it was non-compliant with certain regulations in Canada
  • 5/21/19: Aphria (APHA) completes German tender process and receives fifth culitvation license in Germany.  Co announced that its German subsidiary Aphria Deutschland GmbH had been awarded a fifth lot for the cultivation of medical cannabis in Germany as part of the Company's previously awarded license from the German Federal Institute for Drugs and Medical Devices.   The additional lot was provisionally awarded to Aphria Germany in April and was secured following a review by a German court, which affirmed the original decision by the BfArM.
  • 4/10/19:  Aurora Cannabis Inc. (ACB) announced an update on the status of Aurora Sun, the Company's latest and largest Sky Class facility, which is currently under construction in Medicine Hat, Alberta. To support rapidly growing global demand for high-quality medical cannabis in Canada and abroad, the facility will be expanded to 1.62 million square feet, representing a 33% increase from its originally planned 1.2 million square feet. With the Sky Class production philosophy proven at Aurora Sky, the Company is confident in projecting an expected production capacity at Aurora Sun in excess of 230,000 kg of high-quality cannabis per annum.
  • 3/21/19: CVS (NYSE:CVS)  is selling some cannabis-based products in eight states, Alabama, California, Colorado, Illinois, Indiana, Kentucky, Maryland and Tennessee. Cannabidiol, or CBD, is the non-psychoactive element in marijuana. The pharmacy chain said the available products include topicals such as creams, sprays and lotions, but will not sell any CBD-containing supplements or food additives. CVS said the products comply with applicable laws.
  • 2/26/19: Aurora Cannabis (ACB) to acquire a 51% ownership interest in Gaia Pharm. The co announced that it has agreed to terms to acquire a 51% ownership interest in Gaia Pharm Lda., a license applicant in Portugal, to establish a local facility to produce medical cannabis and derivative products. The company will be renamed "Aurora Portugal Lda". On February 21, 2019, Gaia Pharm Lda. received approval of its application to construct an EU GMP compliant cannabis cultivation facility from INFARMED, a division of the Portuguese Health Ministry, which is responsible for the evaluation, authorization, regulation and control of human medicines as well as health products for the protection of public health.
  • 12/20/18: The 2018 Farm Bill, signed by President Donald Trump, legalized hemp.

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