Legal U.S. cannabis sales are projected to increase by 25% in 2016 to $6.7 billion, according to figures from AcrView Market Research, meaning packaged goods companies potentially have a significant opportunity to get in on the legalization frenzy.
Cannabis, skin care and anti-aging solutions have been the subjects of previous brand deals, and now Skinvisible Pharmaceuticals, Inc., has licensed the exclusive world rights to its topical and transdermal cannabis products formulated with Invisicare to CannaSkin, LLC, a cannabis product licensing company.
The products can potentially treat the effects of skin conditions, acne, eczema, psoriasis, skin cancer and aging due to their anti-oxidant and anti-inflammatory properties.
Invisicare comprises CBD, the therapeutic component of cannabis, and THC, the intoxicating element of the plant, and allows for the binding of these products to the skin.
Skinvisible's new cannabis products will be developed in the 25 U.S. jurisdictions currently approved for medical marijuana, as well as Canada and Israel where there is a great demand for cannabis products.
The products can potentially treat the effects of skin conditions, acne, eczema, psoriasis, skin cancer and aging due to their anti-oxidant and anti-inflammatory properties.
"We are excited to enter into the emerging global cannabis market with CannaSkin, an extremely qualified partner in the cannabis industry," said Terry Howlett, president of Skinvisible. "Skinvisible will bring a new era of cannabis products; ones supported by science and patents. Our objective is to provide superior products with many options for medical marijuana consumers."
