Weekly Round-Up of Cannabis News: The National Institutes of Health Finances Research on Medicinal Marijuana
In the world of medical cannabis, Israel continues to make waves with its well-established program and expanding exports. With over 100,000 registered patients and growing, the demand for premium products is on the rise. Companies like Trichome and CannapharmaRX are actively exporting medicinal cannabis to European markets such as Germany and Portugal, with CannapharmaRX preparing shipments both to Europe and within Israel.
Israeli producers are achieving GACP certification, a significant factor for export credibility as it reflects compliance with stringent international cultivation standards. This expansion of medical cannabis exports contributes positively to Israel’s economy by tapping into high-demand international markets and diversifying trade relationships.
The TMX Group, operator of the Toronto Stock Exchange (TSX), is working to clarify the situation regarding cannabis companies listed on the TSX that may have business in the US or intentions of heading that way. This move comes as two of the biggest winners this week in the cannabis public market, Cronos and Emblem, saw gains of 13.17 percent and 8.33 percent respectively over the past five trading days.
Meanwhile, the National Institutes of Health (NIH) will give $3.8 million over a five-year period to the Albert Einstein College of Medicine and Montefiore Health System for a study looking into the impact of medical marijuana on opioid use. Dr. Chinazo Cunningham, associate chief of internal medicine at Einstein and Montefiore, stated that they hope the study will fill in the gaps and provide doctors and patients with some much-needed guidance.
In the US, the Food and Drug Administration (FDA) has admitted to the beneficial uses of CBD in experimental models of several neurological disorders, including seizure and epilepsy.
As for the Canadian market, CannTrust Holdings will begin trading on the Canadian Securities Exchange (CSE) on Monday, August 21. Aphria will open six new retail locations over the next two years in Calgary, Alberta, Saskatchewan, and Manitoba through a partnership with Leo's Group.
The Marijuana Life Sciences Index ETF (TSX:HMMJ) finished the trading week with a 0 percent decline or increase.
It's important to note that the author, Bryan Mc Govern, holds no direct investment interest in any company mentioned in this article. Follow @our organization_LifeScience and @our organization_Cannabis for real-time news updates.
[1] https://www.timesofisrael.com/israeli-cannabis-companies-expand-exports-to-europe-and-israel/ [3] https://www.timesofisrael.com/israeli-cannabis-companies-expand-exports-to-europe-and-israel/ [4] https://www.israel21c.org/headline/israels-cannabis-industry-tapping-into-high-demand-markets-and-diversifying-trade-relationships/
