Dutch company wants to sell cannabis pills
Echo Pharmaceuticals expects to bring the world's first cannabis pill onto the market within five years.24 January 2008
AMSTERDAM – Pharmaceutical company Echo Pharmaceuticals expects to bring the world's first cannabis pill onto the market within five years.
The Dutch company believes there is a potential worldwide market worth EUR 4 billion for such a pill. Geert Woerlee, CEO of Echo Pharmaceuticals, said this on Wednesday.
The pharmaceutical company has competition from Canadian company Cannasat, which is also working to develop a cannabis pill. The pill is intended for medicinal purposes.
Research shows that medicines containing cannabis can help patients suffering from Parkinson's disease, multiple sclerosis (MS) and migraines, Woerlee said.
Echo Pharmaceuticals has raised EUR 3 million in capital to secure an official registration as medicine. If this registration is secured, then the pharmaceutical company wants to work with another company or investor to bring the medicine onto the market. Woerlee thinks that a worldwide market share of 20 to 30 percent is a realistic possibility.
[Copyright Expatica News + ANP 2008]
Subject: Dutch news