- Cowen sees CBD “gaining traction” with independent pharmacies, which find the high margins and differentiation from larger chains offered by CBD oils attractive
- ETST is widening the market for its CBD products to pharmacies, dispensaries, health care practitioners and others under new distribution agreements
- Report projects that the cannabis market will reach $16 billion by 2025 and cannabis-based products will reach 10 percent of U.S. adults
Earth Science Tech Inc. (OTCQB: ETST), a biotech company focused on the nutraceutical and pharmaceutical fields, is expanding its full-spectrum CBD product distribution to wider markets, including pharmacies. Cowen & Co. research finds that independent pharmacies like the high margins and differentiation from larger chains offered by CBD oils (http://nnw.fm/fD89D).
“CBD products appear to be gaining traction with independent pharmacies, many of whom are already selling or planning to sell CBD oils,” analyst Charles Rhyee wrote in the Cowen report titled ‘Cowen’s Collective View of CBD’. “Independent pharmacies likely find the high-margin profile of CBD oils attractive, which we suspect is similar to those of more traditional over-the-counter drugs, as well as the differentiation it affords independents relative to larger chain pharmacies.”
The Cowen analysis projects that CBD products in the United States will hit $16 billion by 2025 and reach 10 percent of U.S. adults. Cowen found in a survey of 2,500 adults that 6.9 percent of Americans already use CBD as a supplement (http://nnw.fm/p4E8k). Rhyee added that independent pharmacies like the exclusivity that CBD oils offer them in their competition with larger chains.
ETST has reached agreements with CannaBiz and Desert Sun Distribution to sell its line of CBD products, including full-spectrum cannabinoid oil, to pharmacies, chiropractors, dispensaries, health care practitioners, athletic clubs and clinics throughout the United States, thus widening its penetration into this market (http://nnw.fm/76CTl). In a news release, ETST Chief Sales Officer David Burbash said, “We see tremendous synergy between our CBD line and the healthcare practitioner and pharmacy spaces.”
For more information, visit the company’s website at www.EarthScienceTech.com
NOTE TO INVESTORS: The latest news and updates relating to ETST are available in the company’s newsroom at http://nnw.fm/ETST
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