Easton Pharmaceuticals Announces Application to Obtain a
Distributorship License Towards Its Canadian Medical Marijuana
Initiatives
Easton Pharmaceuticals Announces Application to Obtain a
Distributorship License Towards Its Canadian Medical Marijuana
Initiatives
TORONTO, ON--(Marketwired - Oct 4, 2013) - Easton
Pharmaceuticals, Inc. (PINKSHEETS: EAPH), a specialty
pharmaceutical company that designs, develops, and markets a
premium array of topically-delivered therapeutic healthcare
products and drugs to help treat FSAD and other conditions, today
announces it is moving towards applying for an application to
obtain a distributorship license towards its Canadian Medical
Marijuana initiatives.
Easton Pharmaceuticals in its quest to enter into new business
segments and products, previously expressed its desire to enter
into the medical marijuana industry in both the Canadian and U.S.
Markets. After consultations with industry experts, advisors and
potential partners in the industry who currently possess growers
licenses, the Company itself and through third parties, has decided
not to pursue a growers license in Canada but to move solely
towards an application to obtain a distributors license which is
thought to not only be easier to obtain, but involves much less
bureaucracy and regulations. There have been up to 150 applications
submitted in Canada from various provinces, of which only two have
received approval. These were very large government owned
institutions located in Provinces such as Saskatchewan under the
strict control of the RCMP. Many other well qualified applications
were refused by health Canada which demonstrates that the Canadian
government is intent on strictly controlling the market for Medical
marijuana grow-op operations and the profits associated with it.
But an application for a distributorship license is thought to not
only be less complicated but will allow all forms of Marijuana from
growers located in other countries except the U.S. to be brought
into Canada for distribution. Countries such as Uruguay, Holland
and many others will be allowed to supply government approved
Marijuana to legal distributors which Easton Pharmaceuticals hopes
to be a part of to ultimately supply Canadians possessing valid
prescriptions while the old system is phased out in March of 2014.
Importing marijuana from other countries will also substantially
bring down costs as countries such as Uruguay and others not only
have less overhead and production costs but have different
variations and quality for the end user to choose from. The
distributors applications will still involve meeting all the
criteria and regulations required by Health Canada.
There are currently 37,400 medical marijuana users recognized by
health Canada, but is expected to grow to 450,000 by 2024. The
profit potential is enormous both in the United States and Canada.
The clinical marijuana initiatives in the United States are
awaiting on additional updates and laws from not only the
individual states themselves, but from the federal government and
congress who still classify Marijuana as an illegal drug. Colorado
presently allows anyone to grow Marijuana for recreational use.
Presently two American States have legalized it for recreational
use with more states voting to do the same in the next few months
while other states such as Illinois recently approved the use of
medical marijuana making it the second most populated state next to
California to have approved it for medicinal purposes. California's
medical cannabis industry took in about $2 billion a year and
generated $100 million in state sales with an estimated 2,100
dispensaries, co-operatives, wellness clinics and taxi delivery
services in the sector colloquially known as "cannabusiness".
Additional updates on the U.S. medical Marijuana initiatives are
forthcoming.
According to a report by the financial news firm See Change
Strategy, the medical Marijuana industry could reach nearly $9
billion nationwide in five years, as more states in the United
States clear the way to likely legalize marijuana for medicinal
purposes. One of marijuana's greatest advantages as a medicine is
its remarkable safety. It has little effect on major physiological
functions. There is no known case of a lethal overdose. On the
basis of animal models, the ratio of lethal to effective dose is
estimated as 40,000 to 1. By comparison, the ratio is between 3 and
50 to 1 for secobarbital, and between 4 and 10 to 1 for ethanol.
Marijuana is also far less addictive and far less subject to abuse
than many drugs now used as muscle relaxants, hypnotics, and
analgesics. The chief legitimate concern is the effect of smoking
on the lungs. Cannabis smoke carries more tars and other
particulate matter than tobacco smoke. But the amount smoked is
much less, especially in medical use, and once marihuana is an
openly recognized medicine, solutions may be found such as
vaporization, tinctures, extracts and oils. At present, the
greatest danger in medical use of marijuana is its illegality,
which imposes much anxiety and expense on suffering people, forces
them to bargain with illicit drug dealers, and exposes them to the
threat of criminal prosecution.
About Easton Pharmaceuticals
Easton Pharmaceuticals is a specialty pharmaceutical company
that designs, develops, and markets a premium array of
topically-delivered drugs, therapeutic healthcare products and
beauty anti-aging cosmetic products. Its therapeutic healthcare
products are focused on conditions that impact a large and
expanding number of consumers including health and lifestyle issues
related to female and male sexual dysfunction, treatment of certain
pain, wound healing, scar and stretch marks, cellulite and varicose
veins. The world market for these conditions is in excess of $10
billion while the world market for anti-ageing / beauty cosmetics
is estimated at over $426 Billion
The company's updated gel formulation is an innovative and
thought to be unique transdermal delivery system. Easton
Pharmaceuticals' flagship product, VIORRA, is an
over-the-counter aid for the treatment to restore and improve
vaginal moisture and elasticity which has a very positive effect on
women's sexual desire and arousal, FSAD (Female Sexual Arousal
Disorder) the world market for these female conditions are in
excess of $2 billion. VIORRA is a topical, daily-use
product classified by the FDA as containing Generally Recognized as
Safe ingredients.
For More Information Visit
http://www.eastonpharma.com
http://www.ashleybiomedical.com
Safe Harbor
This news release may contain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
(The "Act"). In particular, when used in the preceding of
discussion, the words "pleased," "plan," "confident that,"
"believe," "expect," or "intent to" and similar conditional
expressions are intended to identify forward-looking statements
within the meaning of the Act and are subject to the safe harbor
created by the Act. Such statements are subject to certain risks
and uncertainties and actual results could differ materially from
those expressed in any of the forward-looking statements. Such
risks and uncertainties include, but are not limited to, market
conditions, general acceptance of the company's products and
technologies, competitive factors, the ability to successfully
complete additional or adequate financing, government approvals or
changes to proposed laws and other risks and uncertainties further
stated in the company's financial reports and filings.