Cannabis Science Sets Second FDA Drug Target on $20 Billion "Chronic Pain" Market Targeting the Huge Need for Safe Non-Addictive Non-Lethal Cannabis Based Medications
COLORADO SPRINGS, Colo., March 4, 2010 (GLOBE NEWSWIRE) -- Cannabis Science, Inc. (OTCBB:CBIS - News), a pharmaceutical cannabis company in the U.S., announced today that it has set its second FDA drug target on the $20 Billion "Chronic Pain" market targeting the huge need for safe, non-addictive, non-lethal cannabis based medications. Its first step is to launch a new survey of cannabis use by chronic pain patients, which will compile additional first hand information from all chronic pain suffers for additional data.
Dr. Robert Melamede, PhD. Cannabis Science President and CEO explained, "We know that chronic pain patients are the largest single cohort of medical marijuana users; however, our survey is designed to help us better understand the needs of this very large and diverse group of chronic pain sufferers world-wide. We were very encouraged by what we learned from the survey of those with Post Traumatic Stress Disorder, which we just completed. This latest survey will be another example of what we mean when we say that we are a 'patient oriented company.' We should understand that cannabis is actually much safer than over-the-counter pain medications, which kill thousands of people every year, whereas cannabis does not. Also, chronic pain patients report that they use fewer opiates when they have access to cannabis. Also, there are no really good drugs for treating neuropathic pain other than cannabis medicines."
Richard Cowan, Cannabis Science CFO noted the huge size of the "chronic pain" market, "The total market is estimated at over $20 Billion. As the population ages, the overall chronic pain market is expected to continue to grow as well. The most common causes of chronic pain are musculoskeletal problems and inflammatory conditions. Injuries from accidents, including lower back pain, are a major problem. The cost of these injuries, patient disability, medical expense and lost productivity is enormous. The inflammatory conditions of osteoarthritis and rheumatoid arthritis affect approximately 20 million Americans. Aspirin, Acetaminophen, (Tylenol), Ibuprofen (Advil), and Codeine are the most common used drugs for pain relief. By conducting this survey we will be compiling this data and more first hand information from the Chronic pain patients themselves."
Dr. Melamede concluded, "The under-treatment of chronic pain is a national disgrace, especially when one considers that cannabis is thousands of times less lethal than even Aspirin. Millions of people are suffering needlessly because they cannot get access to medical cannabis. We want to provide them with FDA approved cannabis medicines that are both safer and in many cases more effective than those currently available."
About Cannabis Science, Inc.
Cannabis Science, Inc. is at the forefront of medical marijuana research and development. The Company works with world authorities on phytocannabinoid science targeting critical illnesses, and adheres to scientific methodologies to develop, produce, and commercialize phytocannabinoid-based pharmaceutical products. In sum, we are dedicated to the creation of cannabis-based medicines, both with and without psychoactive properties, to treat disease and the symptoms of disease, as well as for general health maintenance.
Forward Looking Statements; This Press Release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. A statement containing works such as "anticipate," "seek," intend," "believe," "plan," "estimate," "expect," "project," "plan," or similar phrases may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Some or all of the events or results anticipated by these forward-looking statements may not occur. Factors that could cause or contribute to such differences include the future U.S. and global economies, the impact of competition, and the Company's reliance on existing regulations regarding the use and development of cannabis-based drugs. Cannabis Science, Inc. does not undertake any duty nor does it intend to update the results of these forward-looking statements.