SOURCE: Easton Pharmaceuticals, Inc.
TORONTO, ON--(Marketwired - Jan 16, 2014) - Easton Pharmaceuticals Inc. (OTC: EAPH), a specialty pharmaceutical company that owns, designs, develops, and markets an array of topically-delivered drugs and therapeutic healthcare products, today announces an update to its previously announced Medical Marijuana initiatives.
As previously disclosed in prior releases, Easton Pharmaceuticals in its quest to enter into new lucrative business segments and products, previously expressed its interest to enter into the medical marijuana industry in both the U.S. and Canadian Markets. Recent positive developments in the United States, Canada and other countries such as Uruguay have added fuel and optimism to the industry and what is possibly considered a vast and extremely profitable business for participants in this industry. Previous acquisitions made by Easton to enter into the Cancer drug Industry as well as moving forward with the company's current VIORRA initiatives in Mexico and in North America along with the company's other line of products, has directed the company to recently focus its priorities towards these two initiatives while awaiting for positive catalysts in the medical marijuana industry to materialize prior to making more concrete decisions towards Medical Marijuana. Due to the recent positive legal changes and attitudes towards Medical Marijuana and recreational Marijuana use in general, Easton Pharmaceuticals is speeding up negotiations with an Ontario, Canada based company towards forming a possible investment / partnership towards their Medical Marijuana initiatives which includes participating in their government application for both a growers and distributorship license in Canada and other possible international initiatives. This company has obtained some private financing allowing it to recently file an application for licenses and expressed confidence of a government approval, however is not guaranteed. Additional updates and details on these discussions including a possible agreement are expected to be announced shortly. A Non Disclosure Agreement as well as requests being made to Easton Pharmaceuticals to not make any name disclosures at this point in time to avoid adversely affecting any government applications submitted in November of 2013, are being adhered to.
As of Jan. 01, the world's first pot shops opened for business in Colorado, with more planned for Washington State. In Uruguay, the first country to legalize marijuana, the government will oversee the sale of Marijuana this spring, and in Canada, where public support of pot has never been higher, new medical marijuana laws will usher in a free market that produces high quality cannabis to support a rapidly growing number of users. In the United States there are 20 states that permit medical marijuana use with New York State planning to do the same. Two of the 20 states plan recreational use with other states also considering it. A recent CNN survey had 55% of Americans support legalizing Marijuana, up from 16% several years ago. According to a report by the financial news firm See Change Strategy, the medical Marijuana industry could conservatively reach nearly $9 billion nationwide in the United States within 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 is believed to have 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 at 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. It is believed, 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 marijuana 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 owns, designs, develops, and markets topically-delivered Drugs and therapeutic healthcare products, focused on Cancer and other health issues related to male and female sexual dysfunction, wound healing, pain, motion sickness, scar and stretch marks, cellulite, varicose veins and other conditions. The company's gel formulation is thought to be an innovative and unique transdermal delivery system. Easton Pharmaceuticals product "VIORRA", is an over-the-counter aid for the treatment to restore and improve vaginal moisture and elasticity which is believed to have a 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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