How does a company in the mining industry successfully move toward becoming a leader in the marijuana sector, specifically cannabinoid-based pharmaceutical therapies that treat a variety of diseases and conditions? In the case of India Globalization Capital, Inc. (NYSE MKT: IGC), the answer is creative management’s ability to identify opportunity, coupled with a relentless drive toward innovation.
IGC made its switch to the marijuana industry after its CEO, Executive Chairman, and President Ram Mukunda was unafraid to recognize and act on a need for the company to make a positive and swift switch to a stronger and more lucrative market. This led IGC to cannabis and, in particular, phytocannabinoids.
The cannabis plant has a number of subspecies, some of which have psychoactive properties and others do not. Cannabis sativa is psychoactive, while other forms, such as Cannabis Sativa L., or hemp, and Cannabis ruderalis, are not. In fact, the latter offer high levels of cannabidiol, which is most commonly used on a medical level.
Legal marijuana is now becoming one of the fastest growing industries in the United States, expected to create just under 300,000 jobs for Americans by 2020 (http://nnw.fm/xM4lJ), and an increasing number of states are legalizing the drug both medically and recreationally, with the potential for further legalization on the horizon.
Although the marijuana industry is growing at an exponential rate, federal laws that classify marijuana as a Schedule 1 drug make it hard for businesses to reach their full potential,but IGC has been able to research and take advantage of cannabinoids, since these are not illegal. Part of IGC’s success is due to the fact that the company is not going about its mission to help patients suffering from pain, PTSD, seizures, and many other diseases on its own. The company is creating strategic alliances with doctors, researchers, dispensaries, and practitioners, among other industry experts, in order to develop a product portfolio of much needed phytocannabinoid-based therapies.
IGC has entered into the industry aware that there is a huge amount of information already available at the grassroots level of the marijuana industry. This is why it is seeking IP transfers with producers who know about growing hybrids and strains that are rich in specific phytocannabinoids that can be used in a pharmaceutical environment to help patients who could benefit from cannabinoids.
In addition to its extensive development pipeline, which includes six products for various disorders in both adults and animals and three expected to go through to preclinical trials this year, IGC is planning on taking equity positions within companies that are directly and indirectly part of the marijuana industry, another way that investors can take advantage of a booming industry.
For more information, visit the company’s website at www.IGCinc.us
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