- 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://ibn.fm/cmABH).
“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://ibn.fm/fej71).
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://ibn.fm/Brec2). 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://ibn.fm/ETST
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