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Medical Marijuana, Inc. 2017 Year in Review

Along with our portfolio of companies, Medical Marijuana, Inc. looks to continue to build on the success this past year.

Medical Marijuana, Inc. and our family of companies had an impressive year in 2017, breaking company records, innovating exciting new products, and reaching more customers than ever before. We hosted and sponsored educational events for customers, patients, and doctors around the world, helping to spread awareness for CBD and dispel myths surrounding its use. We helped positively shape the conversation regarding cannabis on an international stage and and affected real change in cannabis policy, opening cannabinoids to those who were once blocked from access.

Revenue Growth

Medical Marijuana, Inc. and its portfolio of companies saw unprecedented sales growth in 2017, growing their share of the CBD oil market, a market expected to reach $1 billion by 2020.

In Q2 of 2017, we experienced a 269% revenue increase from the same quarter in 2016. We saw similar growth in Q3 when Medical Marijuana Inc. announced a 255% year-over-year increase in gross revenue.

Medical Marijuana, Inc. set company record for sales revenue in November, a feat it also achieved in August and July. Portfolio companies Kannaway and HempMeds® Mexico both had their highest sales revenue month’s ever in November.

To keep up with this growth, Medical Marijuana, Inc. more than tripled the size of its fulfillment center and doubled the size of its corporate offices, both located in San Diego. This added space and ability to increase staff size ensures Medical Marijuana, Inc. can keep pace with its rapidly growing share of the hemp market.

This year, our portfolio of companies made several key hires and promotions for high-profile positions to support its rapid growth.

These top hires include

International Expansion

Medical Marijuana, Inc. continued to work toward its goal of access to cannabinoids for everyone by focusing effort on our international expansion.

Subsidiary HempMeds® Mexico opened its first in-country office in Monterrey, allowing the company to better serve patients and doctors in the country looking to prescribe or use CBD oil as a treatment option.

growing worldwide cannabis market

Kannaway launched full business operations in Europe less than a year after announcing its intention to enter the European Union market. The company has set up a European distribution center in Poland and has begun shipping select Kannaway products directly from its EU location.

Affected International Cannabinoid Policy

Medical Marijuana, Inc. was also active in positively affecting cannabis reform around the world this year, helping to ensure cannabinoid access for those who need it.

Earlier this year, Medical Marijuana, Inc. applauded the legalization of medical marijuana in Mexico. Medical Marijuana, Inc. and our subsidiary HempMeds® Mexico were integral in helping the grassroots movement for access to legal cannabinoids like CBD, and President of HempMeds® Mexico Raul Elizalde spoke on stage with Mexican President Peña Nieto when he first announced his intention to reform Mexico’s cannabis policy.

Additionally, this year, Medical Marijuana, Inc. products were subsidized by the government of Mexico for the first time. This important step for access helps normalize cannabis-based prescriptions in Mexico and around the world.

Finally, President of HempMeds® Mexico Raul Elizalde spoke at the World Health Organization (WHO) to help influence the organization’s policy on CBD. After review and testimony from speakers like Raul, the WHO decided that CBD should not be scheduled.

Clinical Studies and Research

Medical Marijuana, Inc. was also active this year in cannabinoid-based research and medical studies aimed at creating novel new drugs for a range of medical conditions.

Medical Marijuana, Inc. investment AXIM® Biotechnologies has started to develop a product that is bioequivalent to Marinol. This will allow the company to take advantage of an existing prescription medication market with its improved chewing gum consumption method.

AXIM® Biotech has taken steps, including clinical trials, for the approval of drugs aimed at conditions like

In addition to clinical trials conducted by Medical Marijuana, Inc. investments like AXIM® Biotech, our products were also featured in research by outside entities for a pair of medical conditions. The results of these studies help to validate the use of cannabinoid-based products like those from Medical Marijuana, Inc.

Medical Marijuana, Inc. will continue to pursue avenues for the development and approval of cannabinoid-based medications in the coming years as the medical benefits of cannabis become better understood.

cannabis clinical research

Events

Medical Marijuana, Inc. and our subsidies participated in, sponsored, or hosted panel and informative discussions at nearly two dozen cannabis, health and wellbeing, and business and investment events in 2017. Our participation in these events allowed the Medical Marijuana, Inc. family of companies to promote the benefits of CBD and our CBD oil products to audiences across the U.S. and around the world. The events attended by Medical Marijuana, Inc. companies include

Additionally, some of our portfolio companies hosted our own events in the U.S. and internationally, giving them the opportunity to reach out face-to-face with our supporting community.

Kannaway held events nearly every month in 2017 to help build excitement for their line of hemp products and the opportunities presented by the Kannaway system. Kannaway regional Red Carpet events and twice-yearly national conventions feature top Kannaway executives, top-earning brand ambassadors, and special guest and give attendees the chance to educate themselves, build the skills necessary to excel, and network with fellow brand ambassadors.

Kannaway’s events this year included

Kannaway Europe also held a series of events across the European Union to generate excitement surrounding Kannaway’s launch in the region. These events were capped by Europe’s first regional event in Prague. As with their U.S. market, Kannaway will regularly hold these regional events around Europe to help promote their unique hemp opportunities.

European cannabis market

HempMeds® Brasil hosted a pair of events in the country this year to reach out to doctors in Brazil’s major cities to educate them on the cannabinoids like CBD and address any concerns they might have about prescribing CBD oil products for their patients. Following the success of these events, HempMeds® Brasil is planning more events in the coming year.

New Products

As part of our focus on market expansion this year, Medical Marijuana, Inc. either revamped or launched over a dozen product lines this year. This diversification of our brands and adapting of current products to new consumer demands helps ensure Medical Marijuana, Inc. remains competitive in 2018 and beyond.

Medical Marijuana Inc.’s new products include the following:

 

Media Coverage

Medical Marijuana, Inc. and our family of companies received coverage in regional, national, and international media outlets in 2017. This exposure in popular media normalizes the use of cannabinoids like CBD and promotes the benefits that thousands of customers have already discovered.

This year, our products and portfolio of companies were featured in the following media sources:

Additionally, Kannalife™ Sciences spokesperson Nick Lowery went on a two day media tour in September to discuss chronic traumatic encephalopathy (CTE) and promote the innovative research being conducted by the company into preventative and treatment options for CTE.

CBD treatments for CTE

Giving Back

This year, Medical Marijuana, Inc. and its portfolio of companies announced its support of ECHO. A charitable non-profit with the goal of providing for “special case families and individuals that count on cannabinoids.” ECHO stands for Education, Collaboration, and Hope, its 3 pronged approach for supporting families. ECHO raises awareness for the benefits of cannabinoids through its collection of educational resources, assists collaboration by connecting and giving a voice to patients and doctors, and builds hope by providing financial assistance on a case by case basis. Medical Marijuana, Inc. looks forward to helping positively change lives through our continued support of ECHO.

cannabis non-profit charity

Leaping into 2018

Following our unprecedented success in 2017, Medical Marijuana, Inc. is enthusiastic for 2018. We have taken the necessary steps all year long to position ourselves for an exciting year to come.

There is always more to know…

Visit the Medical Marijuana, Inc. company news page to stay on top of any developments in the Medical Marijuana, Inc. family of companies.

 

  • December 29, 2017
  • Jeffrey Stamberger