TORONTO, ON--(Marketwired - Oct 4, 2013) - Easton Pharmaceuticals, Inc. (
Easton Pharmaceuticals in its quest to enter into new business segments and products, previously expressed its desire to enter into the medical marijuana industry in both the Canadian and U.S. Markets. After consultations with industry experts, advisors and potential partners in the industry who currently possess growers licenses, the Company itself and through third parties, has decided not to pursue a growers license in Canada but to move solely towards an application to obtain a distributors license which is thought to not only be easier to obtain, but involves much less bureaucracy and regulations. There have been up to 150 applications submitted in Canada from various provinces, of which only two have received approval. These were very large government owned institutions located in Provinces such as Saskatchewan under the strict control of the RCMP. Many other well qualified applications were refused by health Canada which demonstrates that the Canadian government is intent on strictly controlling the market for Medical marijuana grow-op operations and the profits associated with it. But an application for a distributorship license is thought to not only be less complicated but will allow all forms of Marijuana from growers located in other countries except the U.S. to be brought into Canada for distribution. Countries such as Uruguay, Holland and many others will be allowed to supply government approved Marijuana to legal distributors which Easton Pharmaceuticals hopes to be a part of to ultimately supply Canadians possessing valid prescriptions while the old system is phased out in March of 2014. Importing marijuana from other countries will also substantially bring down costs as countries such as Uruguay and others not only have less overhead and production costs but have different variations and quality for the end user to choose from. The distributors applications will still involve meeting all the criteria and regulations required by Health Canada.
There are currently 37,400 medical marijuana users recognized by health Canada, but is expected to grow to 450,000 by 2024. The profit potential is enormous both in the United States and Canada. The clinical marijuana initiatives in the United States are awaiting on additional updates and laws from not only the individual states themselves, but from the federal government and congress who still classify Marijuana as an illegal drug. Colorado presently allows anyone to grow Marijuana for recreational use. Presently two American States have legalized it for recreational use with more states voting to do the same in the next few months while other states such as Illinois recently approved the use of medical marijuana making it the second most populated state next to California to have approved it for medicinal purposes. California's medical cannabis industry took in about $2 billion a year and generated $100 million in state sales with an estimated 2,100 dispensaries, co-operatives, wellness clinics and taxi delivery services in the sector colloquially known as "cannabusiness". Additional updates on the U.S. medical Marijuana initiatives are forthcoming.
According to a report by the financial news firm See Change Strategy, the medical Marijuana industry could reach nearly $9 billion nationwide in five years, as more states in the United States clear the way to likely legalize marijuana for medicinal purposes. One of marijuana's greatest advantages as a medicine is its remarkable safety. It has little effect on major physiological functions. There is no known case of a lethal overdose. On the basis of animal models, the ratio of lethal to effective dose is estimated as 40,000 to 1. By comparison, the ratio is between 3 and 50 to 1 for secobarbital, and between 4 and 10 to 1 for ethanol. Marijuana is also far less addictive and far less subject to abuse than many drugs now used as muscle relaxants, hypnotics, and analgesics. The chief legitimate concern is the effect of smoking on the lungs. Cannabis smoke carries more tars and other particulate matter than tobacco smoke. But the amount smoked is much less, especially in medical use, and once marihuana is an openly recognized medicine, solutions may be found such as vaporization, tinctures, extracts and oils. At present, the greatest danger in medical use of marijuana is its illegality, which imposes much anxiety and expense on suffering people, forces them to bargain with illicit drug dealers, and exposes them to the threat of criminal prosecution.
About Easton Pharmaceuticals
Easton Pharmaceuticals is a specialty pharmaceutical company that designs, develops, and markets a premium array of topically-delivered drugs, therapeutic healthcare products and beauty anti-aging cosmetic products. Its therapeutic healthcare products are focused on conditions that impact a large and expanding number of consumers including health and lifestyle issues related to female and male sexual dysfunction, treatment of certain pain, wound healing, scar and stretch marks, cellulite and varicose veins. The world market for these conditions is in excess of $10 billion while the world market for anti-ageing / beauty cosmetics is estimated at over $426 Billion
The company's updated gel formulation is an innovative and thought to be unique transdermal delivery system. Easton Pharmaceuticals' flagship product, VIORRA, is an over-the-counter aid for the treatment to restore and improve vaginal moisture and elasticity which has a very positive effect on women's sexual desire and arousal, FSAD (Female Sexual Arousal Disorder) the world market for these female conditions are in excess of $2 billion. VIORRA is a topical, daily-use product classified by the FDA as containing Generally Recognized as Safe ingredients.
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