Medical Marijuana Inc, a San Diego-based biotech company, has stated that its subsidiary Canipa Holdings will manage the distribution and marketing of the European company’s portfolio of hemp-based products.
The company will also have exclusive online marketing and sales rights and brick-and-mortar distribution rights for the hemp-based product selection.
The acquired contract of products is currently sold in over 2,000 pharmacies and 1,000 retail stores in Europe.
Charlies Vest, director of communications for Medical Marijuana’s marketing company, suggested that the acquisition,“demonstrates HempMedsPX's and MJNA's abilities to source and develop the right brands to add to its ever growing family of products.”
Most forms of cannabinoid products are illegal to use in consumer products without a doctor’s prescription.
However, hemp seed oil, which is derived from crushed cannabis seeds, is legal in the EU and is commonly used in cosmetics.
Vest said: "The European Union (EU), through the European Medicines Agency, is already well aware of the potential health and wellness applications of hemp-based products.”
Hemp seed oil
Many varieties of beauty and wellness products use hemp seed oil, which is reputedly high in amino acids, Vitamin E and omega 3 and 6.
Professor David Nutt, a former government advisor and the chair of the Independent Scientific Committee on Drugs, sounded a note of caution on hemp oil’s properties, saying:“Hemp is a type of cannabis plant which is legal for the very reason that it doesn’t contain the cannabinoid THC that produces the most striking medical and recreational effects of cannabis.”
“This means that real medical marijuana has medical properties (and dangers) which hemp products cannot have.”
“The most likely reality is that the hemp-based ingredients neither add nor subtract from the products’ properties.”
Cannabis-derived ingredients which contain THC are now legal for medical purposes in some areas of the EU and America, although recreational users still face criminal penalties.
Cannabinoids are the basis for scientific and medical use of cannabis. They are terpenophenolic compounds which also occur naturally in the immune system of humans.
Tetrahydrocannabinol (THC) is used for some medical applications since it can ease moderate pain and is a neuroprotective. Other cannabis-based ingredients may also have medical properties.