Medical marijuana has presented life-changing treatment options for patients around the world, but with strict laws in many regions preventing the use of such pharmaceutical alternatives, progress has been gradual. There is still significant stigma surrounding the effects of medical marijuana and its use in a clinical treatment setting. Despite the many positive studies associated with these products, opposition persists in many sectors of the market. Companies such as AXIM Biotechnologies, Inc. (OTCQX: AXIM) have long been at the forefront of medical marijuana research and development, facing opposition from lobbyists and other detractors who seek to keep the status quo within the pharmaceutical industry. Until recently, Insys Therapeutics was one of those companies.
In the past, Insys Therapeutics has been active in the opposition of general marijuana legalization, donating $500,000 to a group called Arizonans for Responsible Drug Policy in the summer of 2016. The group launched a campaign against legalization, which has had a significant impact on the development of many hemp-based products. Recently, the company received DEA permissions for its own synthetic marijuana products.
Marinol is a cannabis-based drug that was approved by the FDA in 1985. Since that time, Marinol has been the only FDA-approved cannabis product in the United States. From cancer-related pain to nausea and vomiting related to other conditions such as AIDS, Marinol has been used in a wide variety of treatment indications. There are many significant long-term side effects associated with the drug that prevent 40 percent of Marinol patients from continuing to take it. The current market for Marinol is $160 million, but that figure is expected to grow to $300 million.
In conjunction with Active Pharmaceutical Ingredient (API,) AXIM Biotechnologies, Inc. has created a revolutionary drug that acts as a bioequivalent to Marinol. Because AXIM’s version of the product is released through a patented chewing gum delivery system, it offers controlled release convenience. This means that the drug absorbs gradually into the blood stream and is not absorbed through the liver, preventing long-term side effects such as cognitive fatigue. Free of negative side effects, patients who take the drug can experience its life-changing benefits over the long term.
The Marinol bioequivalent will be formulated with synthetic dronabinol. The drug will be tested thoroughly through clinical trials before it hits the United States market, providing plenty of opportunity for data collection. As more cannabis-based products are studied in clinical laboratory settings and made available for mass market consumption, the market potential will continue to expand. Medical marijuana is currently available in many states, but a lack of understanding as to the benefits of these products is one of the primary setbacks to across-the-board legalization. More options on the market mean that consumers have greater control over their own health. Marinol has been the only option for decades, but AXIM and API are poised to change that with this safer and more effective alternative product.
The Future of AXIM
As a company that is focused on the research and development of cannabis-based pharmaceuticals, AXIM offers a diverse product pipeline. CanChew gum is one of the most exciting new products to hit the cannabis-based product market due to its patented control-release delivery system. Until the MedChew Rx line, many patients who were unable to metabolize cannabis-based drugs through the liver had few options to choose from. Not only does this delivery system prevent side effects and offer more reliable relief of symptoms, it offers a more discreet way to take medication as well. Chewing gum is accessible no matter where the patient happens to be, including school and the workplace. This makes it more convenient for patients to take their medication while out and about.
The CBD/THC formulation of MedChew Rx is currently being evaluated through clinical trials as a treatment for multiple sclerosis. It is believed that the product will provide relief for symptoms such as spasticity and pain, and other recent studies have suggested that such products may also be effective in the treatment of unexpected weight loss associated with cancer as well as Alzheimer’s disease and Parkinson’s disease symptoms.
About the Author
Stuart Smith is the CEO and Founder of SmallCapVoice.com. SmallCapVoice.com. is a recognized corporate investor relations firm, with clients nationwide, known for its ability to help emerging growth companies build a following among retail and institutional investors. SmallCapVoice.com utilizes its stock newsletter to feature its daily stock picks, audio interviews, as well as its clients’ financial news releases. SmallCapVoice.com also offers individual investors all the tools they need to make informed decisions about the stocks they are interested in. Tools like stock charts, stock alerts, and Company Information Sheets can assist with investing in stocks that are traded on the OTC BB and Pink Sheets. To learn more about SmallCapVoice.com and their services, please visit https://smallcapvoice.com/blog/the-small-cap-daily-small-cap-newsletter/