U.S. Government Makes Big Money on Cannabis

June 14, 2014
robomayor
Policy & Legal
0 Comments

Petkanus believes that KannaLife’s product could be a $1 billion-to-$2 billion drug with a potential patient population of 1.5 million. Petkanus would not say how much they would have to pay to NIH as a result of the agreement saying, “We can’t disclose the terms.” However, KannaLife has made several payments already to NIH for royalty fees, continuous use fees and prosecution fees. “We have made payments to the NIH. Absolutely,” said Petkanus.

The patent expires in February 2021, but KannaLife believes it will have a product to market before that time. KannaLife also believes the product will have FDA approval which means the FDA would have to reschedule the classification of cannabis. [Read More…]

Rob Meagher

Rob Meagher, CBE’s Founder, President and Editor-in-Chief is a 30 year veteran of the media world. His career has spanned from stints representing the Washington Post, USA Weekend, Reader’s Digest, Financial World & Corporate Finance to the technology world where he worked at International Data Group and Ziff Davis where he was part of the launch team for The Web Magazine, Yahoo Internet Life, Smart Business and Expedia Travels before starting his own marketing and Publisher’s Representative Firm. He also ran all print and online media sales and marketing for the Society for Human Resource Management before partnering with Forbes and then Fortune to create Special Sections covering a variety of topics. Rob, who started CBE Press in 2014, can be contacted at [email protected].