Companies like Tilray Inc. (NASDAQ: TLRY) and Cara Therapeutics Inc. (NASDAQ: CARA) have produced, patented and marketed cannabis for medicinal purposes for years, but the market has become increasingly competitive — especially as big pharmaceutical companies gain traction. Pfizer Inc. (NYSE: PFE) Merck & Co. Inc. (NYSE: MRK) and Sanofi SA (NASDAQ: SNY) all hold cannabis patents in the U.S. and Canada.
Jupiter Wellness Inc. (NASDAQ: JUPW) is a company that develops pharmaceutical cannabidiols (CBD for short) for skincare products and says it plans to compete with the cannabis industry’s big players with a goal of leading the pack.
The company has recently made strategic acquisitions, including that of Applied Biology, a pharmaceutical company specializing in treating hair and skin conditions.
Applied Biology develops breakthrough drugs and medical devices to treat skin and hair disorders. It also provides clinical research, intellectual property (IP) development and regulatory services to companies worldwide.
It holds the exclusive license for the Photocil™ psoriasis treatment …