TORONTO--(BUSINESS WIRE)--Easton Pharmaceuticals, Inc. (OTC: EAPH), a specialty pharmaceutical company that designs, develops, and markets a premium array of topically-delivered therapeutic healthcare products, today announced its initiatives to enter into the Medical Marijuana Sector in both the U.S. and Canadian Markets.
As the company searches for new avenues to generate revenues and enhance its business model, Easton Pharmaceuticals, Inc. is retaining the services of a third party consultants to assist the company with submitting applications with the intent of opening small boutique clinics in both the Canadian and American markets which includes various provinces and states starting in Michigan and California, two marijuana "friendly" states for medicinal marijuana.
Michigan created a Medical Marijuana Program (MMMP), a state registry program where state law provides protections for the medical use of marijuana and allows participants to legally possess, use, buy and grow medical marijuana as will various Provinces in Canada once a national law presently being reviewed is passed.
Easton intends on using the services of qualified third parties to obtain licenses and assist with the setting up of a highly regulated and controlled small clinic with the to supply patients who have obtained a valid medical prescription. Such clinics would need to be strictly inspected on a regular basis in order that it meets all government standards. Easton and others in the industry are awaiting regulations and the approval by both the Canadian and United States governments, but is in the application process in certain states and provinces. Easton Pharmaceuticals is also in the process of developing other OTC herbal products specifically designed for this sector.
Although “Viorra” and other products possessing Easton’s reformulated transdermal delivery system is and will continue to be the main focus for the company and it’s initiatives, Easton Pharmaceuticals has entered the medical marijuana sector due to the growing acceptance by the public, all levels of governments and the revenue potential it can generate
John Adams, President of Easton Pharmaceuticals commented, "With thousands of people in the nearby state of Michigan and various Canadian provinces and jurisdictions to follow, requiring relief from various ailments and illnesses that only the use of medicinal marijuana can provide relief for, Easton has chosen to participate in this industry that has slowly over the last few years received recognition for its medicinal benefits. The United States congress was to have made a final decision approving the use of medical marijuana in limited ways, but recently adjourned the final decision for later in the year."
According to the Long Beach Business Journal in their article titled "The Business of Medical Marijuana" the medical cannabis industry alone was worth about 1.7 billion in 2011, according to a report by the financial news firm See Change Strategy. That figure could reach nearly $9 billion nationwide in five years, as the federal government in the United States clears the way for more states 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 marijuana 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 Inc
Toronto-based Easton Pharmaceuticals is a specialty pharmaceutical company that designs, develops, and markets a premium array of topically-delivered therapeutic healthcare products, focused on skin and circulatory conditions that impact a large and expanding number of consumers including health issues related to male and female sexual dysfunction, scar and stretch marks, cellulite and varicose veins, the world market for these conditions is in excess of $10 billion.
The company's updated proprietary gel formulation is an innovative and 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.
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John Adams, President/CEO