February 21st, 2017
Skinvisible Pharmaceuticals, Inc., (OTCQB: SKVI), developers of over 40 topical prescription (Rx), over-the-counter (OTC) and cosmeceutical products using its patented Invisicare® polymer delivery systems, announces it has now additionally developed topical and transdermal cannabis products from hemp-derived CBD; with its next developments to include cannabinoids from marijuana (CBD and THC).
“Our research shows that Invisicare formulations have a much greater release of active ingredients than products in the marketplace, they resist wash-off and rub-off while still allowing the skin to breathe naturally. In addition to these great benefits, it is our belief that our 15 plus years of topical product development experience, as well as our 14 technology and product patents will stand-out in the cannabis marketplace as there is a great need for a “science based” product line such as ours,” said Terry Howlett, President of Skinvisible. “In conjunction with our partner CannaSkin, LLC, Skinvisible is seeking licensees to produce and market our cannabis product line in the 28 states where it has been legalized. We are also extending our reach to Canada and other approved countries while expanding our product line with an array of unique products.”
The cannabis market that Skinvisible has entered is vast and one of the fastest growing markets. There is a growing positive public opinion regarding the cannabis industry due to the increasing amount of encouraging scientific research proving the benefits and the increasingly supportive cannabis laws. The legal marijuana industry (medical and recreational) in the USA has reached over $6 billion in annual sales and is expected to increase to over $20 billion by 2020. In Canada, where the entire country is primed to add recreational marijuana nationally this year, the market is projected to reach $2.5 billion, with some future estimates at a staggering $10 to $22 billion annually. Skinvisible is poised to be a part of this expanding market. It is part of the ancillary cannabis market as Skinvisible does not sell or touch cannabis; it sells its proprietary Invisicare polymers coupled with proven product formulations and services to its licensees. Skinvisible will help bring science-based, patent protected products into this emerging industry.
Skinvisible’s Invisicare drug delivery technology enhances how ingredients are delivered to the skin and through the skin. Protected by comprehensive patents, Invisicare is the integral component of every formula developed by Skinvisible, including its cannabis product line. The Invisicare patents protect all Skinvisible formulations from duplication in the marketplace.
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