For immediate release: June 25, 2018
It’s a groundbreaking development for cannabis and biotech stocks.
The Food and Drug Administration press release says this:
The U.S. Food and Drug Administration today approved Epidiolex (cannabidiol) [CBD] oral solution for the treatment of seizures associated with two rare and severe forms of epilepsy . . . This is the first FDA-approved drug that contains a purified drug substance derived from marijuana.
This initial FDA-approval clears the way to helping people suffering from severe epilepsy. It could be the “go to” remedy for kids – and adults – suffering daily seizures.
One largely unknown company from the United Kingdom is behind the breakthrough drug:
GW Pharmaceuticals (NASDAQ: GWPH).
The company is the premier player working on cannabis pharmaceuticals. And the stock has been an amazing performer.
Since its NASDAQ debut in 2013, shares have surged 1,507%.
That compares to a 71% gain for the S&P 500.
Shares are now trading around $150 – slightly below the stock’s 52-week high.
GW Pharmaceuticals is focused on creating cannabis-derived drugs to solve major medical problems.
The company is currently valued at $4 billion – making it the largest cannabis biotech.
Doctors are already rallying behind the company. Here’s what Dr. Orrin Devinsky – who oversaw the clinical trials – said after the approval:
“In my practice, I often see patients with these highly treatment-resistant epilepsies who have tried and failed existing therapies and are asking about CBD. I am delighted that my physician colleagues and I will now have the option of a prescription cannabidiol that has undergone the rigor of controlled trials and been approved by the FDA to treat both children and adults.”
This FDA approval shows that the U.S. government WILL approve cannabis drugs.
Ackrell Capital estimates that the cannabis pharmaceutical market is worth $50 BILLION annually – the same size as the recreational market.
Here’s how they see that growth unfolding:
You’ll see TONS of growth.
An industry growing over 10X – from $9 billion to $100 billion.
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