Medical Marijuana, Inc. issued the following announcement on June 3.
Medical Marijuana, Inc. (OTC: MJNA) (the "Company"), the first-ever publicly traded cannabis company in the United Statesthat launched the world's first-ever cannabis-derived nutraceutical products, brands and supply chain, announced today that Dr. Stuart Titus, the Company's Chief Executive Officer, was featured in several national and international news publications about his speaking engagement at the U.S. Food and Drug Administration (FDA) Hearing on cannabis and cannabidiol (CBD) on Friday, May 31, 2019.
The economic and wellness potential for CBD is nearly impossible to ignore. Just last year, Medical Marijuana, Inc. saw a year-over-year revenue increase of more than 125% over 2017. Also, the Brightfield Group stated in its 2018 Annual Report that the CBD market is expected to grow by nearly 40 times within the next four years, outpacing the rest of the cannabis market, including Tetrahydrocannabinol (THC) marijuana products, to reach $22 billion by 2022. The FDA's hearing follows on the heels of last year's Agriculture Improvement Act of 2018(often referred to as the 2018 Farm Bill), which legalized hemp and hemp-derived CBD production across the country.
"Speaking publicly at this hearing was a historic step for our Company," said Medical Marijuana, Inc. CEO Dr. Stuart Titus. "We feel very fortunate that our voice in the industry was heard and that we were able to educate the FDA on how CBD supports our Endogenous Cannabinoid System (ECS)."
Titus' testimony encouraged the FDA to recognize that there is significant published evidence that botanical hemp-derived CBD supplements can support health and wellness by targeting the body's ECS. He also highlighted that the National Institute of Health (NIH) has recognized CBD's benefits within Patent #6,630,507 "Cannabinoids as Antioxidants and Neuroprotectants" and by listing CBD in the NIH Dietary Supplement Database.
News publications Titus was featured in include:
- FOX Business' Varney & Co
- U.S. News & World Report
- Yahoo Finance
- FOX Business Online
