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The rapid evolution of the cannabis industry and the new strategic partnerships with mainstream brands reveal a much larger potential market for legal marijuana than what investors and analysts had initially forecast, according to Cowen.
Although it is still early for the marijuana industry, the first signs of its wider applications are easily recognizable.
Tilray shares – which have risen more than 650% since their IPO in July – have had one of their best days since mid-September after the company announced the approval by the Drug Enforcement Administration to import grass in the United States for medical research purposes.
In a move likely to foreshadow a broader pharmaceutical application, the company will collaborate with the University of California San Diego's Medical Cannabis Research Center to study the safety, tolerability and toxicity of the drug. effectiveness of marijuana in the treatment of neurological disorders.
"If this study can identify cannabinoids as a potential treatment for patients with essential tremor, we can continue our research and possibly suggest other effective methods of relief for the large number of patients with essential tremor," said Dr. Catherine Jacobson, Director of Clinical Research at Tilray.
The world's leading alcohol companies have also been quick to explore joint projects with a handful of lucky cannabis producers.
Alcohol or cannabis use in the United States
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