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Creso Pharma Rides Cannabis Stock Momentum
–The below is a company-sponsored announcement–
Momentum for cannabis stocks continues to intensify, as international acceptance instils confidence in companies to develop and distribute legal products.
The confidence in the market was highlighted on Wednesday this week, when GW Pharmaceuticals Ltd. GWPH, announced it was being acquired by Jazz Pharmaceuticals PLC JAZZ in a $7 billion deal.
GW develops Epidiolex, a drug that won US Food and Drug Administration approval as a treatment for severe forms of childhood epilepsy in 2018, while JAZZ is a specialist in sleep medications.
“We don’t think this is the last deal we will see in the sector,” said Nawan Butt, portfolio manager of the Medical Cannabis and Wellness UCITS ETF UK:CBDX.