CGC building on its IP
Through a series of acquisitions, Canopy Growth (WEED) (CGC) has built a strong portfolio of intellectual property to derive hemp-based cannabis products. The company cited this intellectual property as one of the reasons it received a hemp license in New York.
What can New Yorkers expect?
Canopy Growth plans to introduce cannabinoid-based products for both the medical as well as the consumer products market. In its press release, Canopy Growth stated, “Canopy Growth can add value by focusing on its areas of expertise, including extracting, processing and formulating cannabinoid-based consumer products and medicines.”
The company’s recently acquired company ebbu will likely play a substantial role in helping the company achieve this target. ebbu’s website boasts over 1,500 cannabis-related inventions and 40 patents. Currently, ebbu develops adult-use cannabis-based products geared toward providing users with certain sensations or experiences. Some effects of cannabis-related drugs listed on ebbu’s website include alertness, creativity, relaxation, and happiness. The company also develops medical products targeting anxiety, pain, sleep disorders, post-traumatic stress disorder, and depression.
These are just a few examples of products that give us a glimpse of what we can expect to come from the recently legalized hemp farming. Companies (MJ) such as HEXO (HEXO), Aphria (APHA), and Tilray (TLRY) are also likely in a race to develop these products to capture the US market share.