Medical Marijuana Update: Patients are Opting for CBD Instead of Rx Medication
A recent study reveals at 40% of patients who consume high-CBD forms of cannabis stopped using traditional pharmaceutical medications and now use marijuana to treat their symptoms.
The survey was conducted by Brightfield Group, a market research firm focused on the legal Cannabis industry, in partnership with HelloMD, an online healthcare platform for Cannabis.
This is the largest know study to date specifically researching CBD usage and its effectiveness for treating a variety of medical conditions including insomnia, depression, anxiety, and joint pain.
Unlike THC, the primary psychoactive cannabinoid in Marijuana, CBD is non-psychoactive and is known to have anti-inflammatory, anti-anxiety, anti-psychotic, and anti-convulsant properties.
“We are seeing an exponential rise in the interest of CBD products from our patient community—particularly among women,” said the Chief Medical Officer of HelloMD. “While we still have much to learn about CBD, we cannot ignore this one fact; the majority of those using CBD product today receive great benefit. This has the potential for far-reaching consequences.”
Key findings from the study include the following;
- 42% of CBD users stopped using traditional medications and now use Cannabis instead
- 80% of CBD users found CBD be very or extremely effective for treatment.
- 90% of those surveyed said they would buy CBD-only products derived from Marijuana.
“This study is exciting because it shows there is potentially a huge barely-tapped market for CBD products that could improve the lives of many people. With further research and public education, CBD could be an effective alternative treatment for many people, particularly at a time when our nation is in the midst of an opioid crisis,” said the Director of Research for Brightfield Group.
Last Friday, I spoke with Bruce Barren a highly recognized and experienced corporate executive, with deep understanding and relations in the sector after his MoneyTV interview (see the entire interview below).
Mr. Barren believes that, “…because of the uncertainties in legislative direction in Washington, DC marijuana stocks are not where one wants to invest, though some of them have performed very well YTD.
Mr. Barren noted that less than 50% of the States have approved the sale of Marijuana, and where the approval is limited, it has been done mostly for medical purposes.
He said that Hemp based stocks, commonly referred to as CBD, is where major profits are to be made.
These companies can sell their products, especially those with a non-restrictive medical benefit in all 50 states and most countries around the world without restrictions. And that this is where savvy Wall Street participants in the sector are currently focused.
Notably, the survey was conducted by Brightfield Group that I refer to above tells us that the patient/consumer is embracing these alternative, not addictive treatments in lieu of traditional narcotic pain relief.
One company that I cover is focusing on unique and innovative product delivery systems PotNetwork Holdings Inc. (OTCMKT:POTN) is developing therapeutic products and nutraceuticals manufactured according to the highest standards, and maintaining the highest levels of compliance across the supply chain.
The firm’s distinguished Israeli scientists have standardized dosages designed and adapted for several medical conditions, including pain, anxiety disorders, metabolic disorders and inflammatory disorder.
Last week a Presidential Commission issued a preliminary report calling for a Declaration of National Emergency to address opioid addiction.
The Presidential Commission on Combating Drug Addiction and the Opioid Crisis led by Gov. Chris Christie (R-NJ) issued a preliminary report whose lead recommendation is for the President “to declare a national emergency under either the Public Service Act or the Stafford Act.”
The report largely takes a public health approach to the issue, calling as well for expanding drug treatment capacity under Medicaid, increasing the use of medication-assisted treatment for opioid disorders, mandating that all police officers carry the opioid overdose reversal drug naloxone, broadening Good Samaritan laws, and encouraging the development of non-opioid pain relievers.
In-light of the attention now being paid to the misuse of Rx addicting pain relief it is heartening to learn that in many instances consumers/patients across the nation are opting for alternative not addicting relief in the form of CBD-only products derived from Hemp and Marijuana.
|OTCMKT:POTN||0.06||3 August 2017||-0.00||0.0647||0.065||0.058||6,452,200|
|HeffX-LTN Analysis for POTN:||Overall||Short||Intermediate||Long|
|Neutral (-0.00)||Neutral (-0.20)||Neutral (0.15)||Neutral (0.06)|
Have a terrific week.
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