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1.42 MB
Extraction Summary
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People
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Organizations
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Locations
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Events
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Relationships
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Quotes
Document Information
Type:
Investment report page
File Size:
1.42 MB
Summary
This page from an Ackrell Capital report discusses the potential first FDA approval of a cannabis-derived pharmaceutical (Epidiolex) in 2018 and its implications. It also analyzes the commoditization of cannabis flower, noting a downward pricing trend in legalized states like Colorado, Oregon, and Washington, illustrated by a graph of prices from 2016 to 2017.
Organizations (6)
| Name | Type | Context |
|---|---|---|
| Ackrell Capital | ||
| FDA | ||
| GW Pharmaceuticals | ||
| BDS Analytics | ||
| FINRA | ||
| SIPC |
Timeline (3 events)
FDA approval of cannabis-derived pharmaceutical
Submission of NDA for Epidiolex in October 2017
Approval of Sativex in UK in 2010
Locations (6)
| Location | Context |
|---|---|
Relationships (3)
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Key Quotes (4)
"The FDA’s first-ever approval of a cannabis-derived pharmaceutical may occur in 2018."Source
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Quote #1
"If the FDA approves Epidiolex, such a precedent could be followed by similar approvals in the United States for other cannabis-derived drugs"Source
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Quote #2
"The supply of cannabis in the United States has increased considerably with expanded state legalization."Source
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Quote #3
"examination of the price per gram... reveals a downward trend."Source
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Quote #4
Full Extracted Text
Complete text extracted from the document (2,008 characters)
ACKRELL
CAPITAL
Cannabis Investment Report | December 2017
CAPITAL
Cannabis Investment Report | December 2017
FDA Approval of Cannabis-Derived Pharmaceuticals
The FDA’s first-ever approval of a cannabis-derived pharmaceutical may occur in 2018. The FDA
has previously approved several drugs with chemically synthesized cannabinoids or cannabinoid-like
compounds, but has never approved a drug derived from the cannabis plant. In October 2017,
U.K.-based GW Pharmaceuticals submitted a New Drug Application (NDA) to the FDA for Epidio-
lex, an oral formulation of cannabis-derived cannabidiol, or CBD, intended to treat severe forms of
childhood epilepsy. (GW Pharmaceuticals also manufactures Sativex, a mouth spray used for treatment
of spasticity caused by multiple sclerosis; it includes THC and CBD derived from cannabis. Sativex
was first approved for use in the United Kingdom in 2010, and has been approved for use in at least
30 countries, but not in the United States.) If the FDA approves Epidiolex, such a precedent could
be followed by similar approvals in the United States for other cannabis-derived drugs and result in a
significant increase in the medical use of cannabis by consumers.
The FDA’s first-ever approval of a cannabis-derived pharmaceutical may occur in 2018. The FDA
has previously approved several drugs with chemically synthesized cannabinoids or cannabinoid-like
compounds, but has never approved a drug derived from the cannabis plant. In October 2017,
U.K.-based GW Pharmaceuticals submitted a New Drug Application (NDA) to the FDA for Epidio-
lex, an oral formulation of cannabis-derived cannabidiol, or CBD, intended to treat severe forms of
childhood epilepsy. (GW Pharmaceuticals also manufactures Sativex, a mouth spray used for treatment
of spasticity caused by multiple sclerosis; it includes THC and CBD derived from cannabis. Sativex
was first approved for use in the United Kingdom in 2010, and has been approved for use in at least
30 countries, but not in the United States.) If the FDA approves Epidiolex, such a precedent could
be followed by similar approvals in the United States for other cannabis-derived drugs and result in a
significant increase in the medical use of cannabis by consumers.
Commoditization of Cannabis Flower
The supply of cannabis in the United States has increased considerably with expanded state legaliza-
tion. This increase has started to dampen retail and wholesale prices in various markets. While retail
prices vary across the country, an examination of the price per gram of cannabis flower, or “bud,” in
the three largest states to implement recreational laws—Colorado, Oregon and Washington—reveals
a downward trend. The following graph shows the average price per gram of cannabis flower in these
three states since the beginning of 2016.
The supply of cannabis in the United States has increased considerably with expanded state legaliza-
tion. This increase has started to dampen retail and wholesale prices in various markets. While retail
prices vary across the country, an examination of the price per gram of cannabis flower, or “bud,” in
the three largest states to implement recreational laws—Colorado, Oregon and Washington—reveals
a downward trend. The following graph shows the average price per gram of cannabis flower in these
three states since the beginning of 2016.
Consumer Pricing Trends: Cannabis Flower Price per Gram
$8.00
$7.50
$7.00
$6.50
$6.00
$5.50
$5.00
Jan 16 Mar 16 May 16 Jul 16 Sep 16 Nov 16 Jan 17 Mar 17 May 17 Jul 17 Sep 17
$7.50
$7.00
$6.50
$6.00
$5.50
$5.00
Jan 16 Mar 16 May 16 Jul 16 Sep 16 Nov 16 Jan 17 Mar 17 May 17 Jul 17 Sep 17
Source: BDS Analytics
10
© 2017 Ackrell Capital, LLC | Member FINRA / SIPC
© 2017 Ackrell Capital, LLC | Member FINRA / SIPC
HOUSE_OVERSIGHT_024646
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