- Under new distribution agreements, ETST is targeting new markets for its hemp CBD products
- Sales of cannabis-based pharmaceuticals are projected to account for 10 percent of the $31.6 billion legal cannabis market by 2022
- ETST has expanded its sales team as it seeks product placement in health food stores and large chains
- Company-sponsored foundation recently achieved non-profit status to advance research on cannabinoids
Earth Science Tech Inc. (OTCQB: ETST), a biotech company focused on the nutraceutical and pharmaceutical fields, is looking to expand its cannabidiol (“CBD”) product distribution in wider markets in the United States. The company has reached agreements with CannaBiz and Desert Sun Distribution to sell its CBD product line to chiropractors, dispensaries, pharmacies, health care practitioners, athletic clubs and clinics throughout the country (http://ibn.fm/5CRl6).
A new report by Arcview Market Research in partnership with BDS Analytics focuses on medical cannabinoid pharmaceuticals. The research makes clear that consumer respondents are turning to marijuana for relaxation and pain relief. Cannabis-based pharmaceuticals are projected to reach 10 percent of an estimated $31.6 billion legalized cannabis market by 2022, the report finds (http://ibn.fm/GuGyU).
ETST’s full-spectrum cannabinoids may offer analgesic pain relief and anxiety reduction. ETST distributes cannabinoids in the form of soft gels, tablets, liquids and other forms classified as food-based and permissible in all 50 states and some 40 countries. Pharmacies represent a key new market for ETST.
David Burbash, chief sales officer of ETST, is increasing the size of the company’s sales team as the company expands its target markets to include health food stores and large chains. By reaching agreements with CannaBiz and Desert Sun Distribution, ETST is raising the profile of its CBD products.
ETST is also expanding its sales reach into Mexico and South America through its distribution agreement with partner Forzagen. In a news release (http://ibn.fm/gb0x2), ETST president and Chairman Nickolas S. Tabraue said, “We expect to gain great exposure and additional revenue through this strategic partnership.” He added (http://ibn.fm/RijeU), “We are positioned to catapult in 2019.”
In addition, ETST has announced that Earth Science Foundation, Inc., the creation of which it has supported, is now a 501(c)(3) organization. Obtaining non-profit status enables the foundation to accept tax-free contributions that will fund further studies of cannabidiol products with a primary objective of helping those who suffer from cancer, epilepsy, depression, autism, chronic pain, dementia, drug/alcohol addiction, and AIDS (http://ibn.fm/uH48K).
For more information, visit the company’s website at www.EarthScienceTech.com
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