India Globalization Capital, Inc. (NYSE MKT: IGC) intends to become a “first-mover” in developing cannabis-based combination therapies for large market conditions such as pain, eating disorders, refractory epilepsy, and seizures. In addition, IGC has filed two patents, IGC-502 and IGC-505, for combination therapies for the treatment of seizures in dogs and cats, which in it itself is a surprisingly large market.
It is believed that abnormal brain activity is the cause of most seizures in dogs and cats. These seizures can be either violent or subtle. Some seizures may occur just once, but others can be repeated and require treatment before affecting larger parts of the brain.
The pet market is large and growing. According to research by the American Pet Products Association (http://nnw.fm/0Wi4y), the market in 2017 is expected to reach $16.62 billion for veterinary care and $14.93 billion for supplies and over-the-counter medicine. By far, dogs and cats are the most popular pets. In a 2017 survey by National Pet Owners, 60.2 million American households owned a dog and 47.1 million households owned a cat.
While some of this research may also be beneficial for treating humans, it reflects IGC’s targeting of the larger veterinary market. In dogs, primary epilepsy — or idiopathic epilepsy — occurs in about 5% of the canine population (http://nnw.fm/6LTia), most often in dogs between the ages of six months and six years. In cats, seizures are much less common, occurring in only 0.5-1.0% of the population. Most are intracranial, stemming from the brain, and are epileptic in nature.
Hemp-based products for dogs, especially for older and pain-ridden dogs, are in a gray market. However, the market potential is great (http://nnw.fm/4iNu8), because it sits at the current intersection of medical pharmaceutical marijuana and pet care. Veterinarians acknowledge that legal restrictions currently impede distribution of these products in the U.S., but advances in legalization of medical marijuana may be helpful in changing the environment. For now, IGC is researching the potential of cannabis-based treatments in the pet market and developing products as this potentially represents a significant future opportunity.
For more information, visit the company’s website at www.IGCinc.us
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