Lodge, In biotech's from the genesis of a produ
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Posted On: 02/27/2020 8:26:39 PM
Lodge,
In biotech's from the genesis of a product to approval it often takes well over a decade. OWCP is approaching cannabis as a biotech, so I believe it's understandable that it's taking time.
Could they sell products in legal cannabis stores, very probably, but like practically all the products there, no real clinical trials would have been done with them, and buyers would pay full price.
If they're successful gaining worldwide regulatory approval on a cream for psoriasis and other skin diseases which would be sold by prescription and covered by insurance I believe that product sales will be thousands of times larger than what they'd have been in legal cannabis stores as they'll be sold everywhere, not just where cannabis is legal, but more importantly user will pay co-pays, perhaps $5 or so for a months worth, while the total paid will probably be what the retail would be in a cannabis store, perhaps over $100 for a months supply.
It will be some time before we have regulatory approval, but by later this year we may have initial results saying the cream is worthy of testing in a blinded trial. It's possible that this alone may be all that's needed to consummate a major partnership, and with that our investment in the company will be proven very worthwhile.
Gary
In biotech's from the genesis of a product to approval it often takes well over a decade. OWCP is approaching cannabis as a biotech, so I believe it's understandable that it's taking time.
Could they sell products in legal cannabis stores, very probably, but like practically all the products there, no real clinical trials would have been done with them, and buyers would pay full price.
If they're successful gaining worldwide regulatory approval on a cream for psoriasis and other skin diseases which would be sold by prescription and covered by insurance I believe that product sales will be thousands of times larger than what they'd have been in legal cannabis stores as they'll be sold everywhere, not just where cannabis is legal, but more importantly user will pay co-pays, perhaps $5 or so for a months worth, while the total paid will probably be what the retail would be in a cannabis store, perhaps over $100 for a months supply.
It will be some time before we have regulatory approval, but by later this year we may have initial results saying the cream is worthy of testing in a blinded trial. It's possible that this alone may be all that's needed to consummate a major partnership, and with that our investment in the company will be proven very worthwhile.
Gary
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