FinancialBuzz.com’s latest Buzz on the Street Show: Featuring Our Corporate News Recap on “NutraLife Biosciences (NLBS) Announces New Phytocannabinoid Rich (PCR Pure) Water Enhancing Product Line.”
NutraLife Biosciences, Inc. (OTCQB: NLBS) to launch a new line of Phytocannabinoid rich (PCR) water enhancing drops under its new in-house brand PCR Pure. NutraLife’s new CBD water enhancers will initially be available in four flavors: strawberry, grape, coconut and watermelon. Each 2 oz. bottle will contain 15 servings and have 20 mg per serving or 300 mg per bottle of PCR hemp extract. The new water enhancers are infused with the extract and can be added to water or other beverages to help support overall health and wellness.
NutraLife Biosciences, Inc. operates a multifaceted life sciences company. For more than 6 years the Company has manufactured and distributed private label and branded nutraceutical and wellness products. The Company launched its hemp-based CBD products in 2017. Through its subsidiaries, Precision Analytic Testing, Inc., and PhytoChem Technologies, Inc., NutraLife provides bulk material analytical, identity, potency and purity testing of raw hemp, hemp cultivation, raw bulk material extraction and processing.
Hemp, a derivative of the cannabis plant, has been used for centuries due to its multi-faceted nature. Hemp, for instance, is used to manufacture textiles, paper, construction materials, and fuel. Most commonly, hemp is known for being derived from the cannabis plant, which has caused it to be classified as a drug under international regulations. However, while unlike marijuana, hemp does not cause psychoactive effects, marijuana and hemp actually offer similar therapeutic benefits. The two differ heavily in the biological makeup of their THC and CBD compounds however; Marijuana contains significantly more THC, which causes the psychoactive effects. On the other hand, hemp contains minimal traces of THC, but contains more CBD. Medical institutions are now reevaluating hemp and its derivatives in order to leverage it for medical uses as CBD can be used to treat medical conditions such as chronic pain, neurological disorders and epilepsy. Furthermore, the U.S. Food and Drug Administration approved its first CBD-derived drug in 2018, Epidiolex, which is used to treat seizures in patients associated with Lennox-Gastaut syndrome or Dravet syndrome. The FDA’s move to approve Epidiolex adds credibility to the cannabis industry, demonstrating that it can potentially become an alternative to traditional medications. According to data compiled by Hemp Business Journal, a division of New Frontier Data, the total sales for the U.S. hemp industry totaled USD 820 Million in 2017. The research suggests that the industry is expected to grow to USD 1.9 Billionby 2022, and at a CAGR of 14.4% during the 5-year period.
In 2017, hemp-derived CBD products accounted for the largest market share as the segment delivered sales of USD 190 Million, accounting for 23% of the overall market in 2017. Sales from the food, personal care, and industrial applications also contributed to a significant portion of the market share. By 2022, Hemp Business Journal forecasts that hemp-derived CBD products will continue to dominate the market, driving in USD 646 Million in sales. The rapid expansion of the CBD marketplace has led to the emergence of new CBD-based products. Consumers can now more easily find CBD products in their local pharmaceutical stores or even a convenience store. The CBD market can accelerate even further if clinical trials progress and report positive data, since the FDA requires effective, large-scale trials in order to evaluate cannabis as a form of treatment. Researchers from the University of Minnesota’s (U of M) College of Biological Sciences and College of Food, Agricultural, and Natural Resource Sciences are one of the handfuls of groups that are federally authorized to study cannabis. The researchers have argued they have “indisputable evidence” that hemp and marijuana should be separated, according to Mercola. “It’s a plant of major economic importance that is very poorly understood scientifically. With this study, we have indisputable evidence for a genetic basis of differences among cannabis varieties, further challenging the position that all cannabis should be regulated as a drug,” said George Weiblen, a professor with a joint appointment in the U of M’s College of Biological Sciences and College of Food, Agricultural and Natural Resource Sciences.
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