This week, we’re giving you the latest information on the vaping epidemic, and no, it’s not good.
Also, CBD prices plummet as the U.S. continues to flood the industry with more products then there is demand for. At the same time, Epidiolex (or Epidyolex as it’s called across the pond) has been approved for use in 30 European countries. And according to a well-known CiiTech Entrepreneur, “The Numbers Don’t Stack Up For Medical Cannabis”. All that and more in this week’s CBD Business Weekly Review & Newsletter.
If you follow any news source or social media outlet, you’re likely aware that there’s been a lot of fear and backlash towards the vaping industry in recent weeks. So far, hundreds of people in the U.S. – mostly between the ages of 18-29 – have been hospitalized and more than a half-dozen are dead as a result of what’s believed to be acute-onset, vaping-related lung disease.
But how did this epidemic seemingly happen overnight and what’s being done to remedy the situation? In short, it’s complicated and there is a lot of misinformation floating around and leaving consumers unsure of what’s been causing these illnesses, if it’s even true or some type of conspiracy, and ultimately, whether or not they’re safe to continue vaping.
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Looking at the hemp extraction market, it says CBD isolate prices have fallen from a high of $9,470 per kg in October 2018 to $4,133 per kg in August 2019. In a second report on the HempGrower website it reports findings by U.S. analysts’ Hemp Benchmarks that land set aside for hemp cultivation has risen by 500% in the last year.
Patients in over 30 European countries could soon be able to get access to GW Pharmaceuticals Epidyolex cannabis medicine after it was approved by the European Commission. Since its launch in the U.S last year GW’s sales have rocketed with Epidiolex (as it is known in America) boosting its revenues by over $30m in its first quarter.
Outspoken Israel entrepreneur Clifton Flack has lost faith in medical cannabis and believes the future is CBD. His business CiiTech was established in Israel and is now based in the U.K. to take advantage of its booming cannabis oil industry.
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