Washington, Aug. 15, 2018 (GLOBE NEWSWIRE) -- Seven of Canada’s top 10 cannabis patent holders are major multi-national pharmaceutical companies, according to a joint research project between Washington D.C. based New Frontier Data, the global authority in data, analytics, and business intelligence for the cannabis industry, and London based cannabis bio-technology firm, Grow Biotech .
“Big Pharma’s inevitable entrance into the Cannabis space has arrived. The top nine medical conditions for which Cannabis can be used as an alternative treatment could cannibalize as much as $20 billion in U.S. pharmaceutical sales in the next two years. As more medicinal applications for the plant are discovered, and more physicians and patients integrate cannabis into treatment regimes, the potential impact of cannabis on healthcare will continue to grow for years to come,” said New Frontier Data Founder & CEO Giadha Aguirre de Carcer.
Leading Canada’s Cannabis Patent Race
CIBA-GEIGY AG (Switzerland): 21 PFIZER PRODUCTS INC. (United States of America): 14 GW PHARMA LIMITED (United Kingdom): 13 TELEFONAKTIEBOLAGET LM ERICSSON (Sweden): 13 MERCK SHARP & DOHME CORP (United States of America): 11 SOLVAY PHARMACEUTICALS B.V. (Netherlands): 7 KAO CORPORATION (Japan): 7 OGEDA S.A. (Belgium): 7 SANOFI-AVENTIS (France): 6 UNIVERSITY OF CONNECTICUT (United States of America): 6
With Canada poised to be the first G-7 country to fully legalize cannabis, firms have been racing to secure protectable intellectual property (IP) before the market launches an adult use market later this year. Notably, pharmaceutical firms are among the leading cannabis patent holders in Canada. These patents, which would have been difficult to enforce while cannabis remained illegal, will become enforceable post-legalization, giving the patent holders a key strategic advantage in an increasingly competitive market.
“Big Pharma is establishing a significant cannabis presence in Canada with registered patents in advance of legalization. As cannabis-plant-based drugs proliferate globally, opportunities for new technologies and revolutionary advances in health and wellness sciences will continue to grow. We look forward to our upcoming research project with New Frontier Data and view our strategic collaboration as a core part of our ongoing assessment of the best commercial opportunities in medical cannabis globally,” Ben Langley, CEO, Grow Biotech.
About New Frontier Data: New Frontier Data is an independent, technology-driven analytics company specializing in the cannabis industry. It offers vetted data, actionable business intelligence and risk management solutions for investors, operators and policymakers. New Frontier Data’s reports and data have been cited in over 65 countries around the world to inform industry leaders. Founded in 2014, New Frontier Data is headquartered in Washington, D.C. with additional offices in Denver. For more information or media inquiries please visit www.newfrontierdata.com or emails us at info@newfrontierdata.com .
New Frontier Data does not take a position on the merits of cannabis legalization. Rather, its mission and mandate is to inform cannabis-related policy and business decisions through rigorous, issue-neutral and comprehensive analysis of the legal cannabis industry. For more information about New Frontier Data please visit: www.newfrontierdata.com . About Grow Biotech: Grow Biotech PLC is a UK headquartered global cannabis intellectual property company. Grow Biotech is focused on developing highly innovative processes, techniques, and tools for use in the cannabis-industry through advanced biotechnological research and development. The company’s ultimate mission is to drive innovation in the industry so as to bridge the gap between existing cannabis medicines and accepted pharmaceutical standards. For more information or media enquiries please visit www.growbiotech.com or email us at admin@growbiotech.com .
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Gretchen Gailey New Frontier Data 202-489-3821 ggailey@newfrontierdata.com
