According to recent data provided by Arcview Market Research, in partnership with BDS Analytics, the total economic output from legal cannabis will grow 150% from $16 billion in 2017 to $40 billion by 2021. The report indicates economic multiplier effects through which US consumer spending on legal cannabis in 2021 of $20.8 billion will generate $39.6 billion in overall economic impact, 414.000 jobs, and more than $4 billion in tax receipts. Arcview also estimates that the legalization of adult-use (recreational) sales in California, will lead to the creation of nearly 99,000 industry jobs in the state by 2021, about a third of all cannabis jobs nationwide. Pivot Pharmaceuticals Inc. (OTC: PVOTF), Kush Bottles, Inc. (OTC: KSHB), Innovative Industrial Properties, Inc. (NYSE: IIPR), Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP), AXIM Biotechnologies, Inc. (OTC: AXIM)
Beginning this month businesses can begin operating in California’s newly-legal commercial cannabis market, as the new recreational cannabis laws went into effect. Bureau of Cannabis Control Chief Lori Ajax said, “This is an historic day for the state of California… It marks the beginning of a legal cannabis marketplace that will be well regulated in order to protect consumers and maintain a level playing field for cannabis-related businesses. We are hopeful that we have put forth a model that other states will look to as an example when they head down the path to legalization.”
Pivot Pharmaceuticals Inc. (OTCQB: PVOTF) also listed on the Canadian Stock Exchange under the Ticker ‘PVOT’. Yesterday, together with its wholly-owned medical cannabis products division, Pivot Green Stream Health Solutions Inc. (“PGS” or “Pivot Green Stream”), Pivot Pharmaceuticals provided its shareholders with a Corporate Update: “Since Pivot’s entry into the cannabis industry, we have accumulated the following four patented or proprietary technologies to deliver cannabinoids into the human body that avoid exposure to carcinogens from smoking:
- BiPhasix Transdermal Delivery System (semi-solid topical cream)
- Thrudermic Nanoparticulate Transdermal Delivery System (gel or patch)
- SolMic Micelle Water Soluble Oral Delivery System (oral dropper bottle)
- RTIC Cannabis Oil-To-Powder System (powder for infusion into food and beverages).
Each of Pivot’s technologies will allow the Company to develop and monetize dozens of products in various strengths and concentrations (with or without THC) addressing many unmet medical needs and favouring a healthy lifestyle. The pipeline that Pivot is developing will enable it to deliver meaningful doses (e.g. better bioavailability) of cannabinoids, unlike current products marketed today.
Pivot’s products will have a shelf-life that will enable them to remain fresh and stable and have clinical data to support efficacy and safety claims in order to be used to manage a particular health condition. As well, each of our technologies allow for the smell and taste of cannabinoids to be greatly improved. Lastly, our products will be manufactured in a world class facility of pharmaceutical grade using only the purest of cannabis extracts.
Pivot will develop its products in markets where cannabinoids can be sourced and formulated without restriction. The Company recently announced that it will develop its cutting-edge cannabis products in Israel and in Germany, working with world class scientists to bring our impressive pipeline of products to market in 2018.
Dr. Patrick Frankham, Pivot’s CEO, states that “we are proud of the progress that the Company has made during the past few months. As the market prepares for legalization, it is Pivot’s belief that only products that are doseable and have high bio-availability will differentiate themselves from those delivered using simple tropical or vegetable based oils. Our intellectual property portfolio easily distinguishes us from our competitors.”