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The COVID-19 pandemic has stirred up the cannabis market

In the face of the coronavirus pandemic, patients in severe or terminal condition treated by the BeHemp Foundation won’t have to worry about shortages. HempCare will make sure the patients have access to the CBD oil they need to alleviate pains. Doctors and scientists have stated that while cannabis-derived products can’t help stop the COVID-19, it can help the immune system, just like vitamins.

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This picture show a person drinking cannabis oil.

Faced with the coronavirus pandemic, HempCare decided to partner with the BeHemp foundation to ensure that patients undergoing treatment with cannabis oil are not left without medication during the quarantine period. The BeHemp Foundation is known for treating patients in severe, terminal or chronic conditions.

The possible lack of medication is a concern for mothers, fathers, and caregivers of children who use CBD oil. In addition, the pandemic is stirring up the entire cannabis market.

You can find more information about the cannabis markets and other important news in the cannabis sector with the Hemp.im app. This app collects the latest marijuana news among cannabis sectors that investors operate in.

HempCare will give up profit to make sure patients have access to CBD oil

The company HempCare will pass on to the foundation at cost price, without freight, full-spectrum oils of 1,000 mg and 1,500 mg with values up to 64% lower.

“We were able to make an associative purchase. We filed an injunction to bring all the medications from the US at once, so we saved the freight. We also decided to give up the profit. It’s the least we can do over the next 120 days to make sure patients have access to oil,” said Cristina Taddeo, CEO of HempCare.

The 1,000-milligram, 30-milligram oil, which cost $102 + $23 (R$525 + R$120) in freight, will now cost $46 (R$240), a savings of nearly 64%. The 1,500 mg oil, also of 30 ml, that came out for $153 +$23 (R$790 + R$120) of freight, now costs $72 (R$370), almost 60% cheaper. Patients or guardians can buy the oils with these values starting this Monday, March 23rd, through Dr. Cannabis.

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“We will not leave anyone without medicine. Whoever needs it can look for us. We can’t exploit health. Of course, we need profit to pay employees and generate jobs, but not the way the market has done so far,” said the CEO.

Can CBD oil help stop the COVID-19 pandemic?

Professor Saoirse O’Sullivan is the scientific leader of the Association for the Cannabinoid Industry, a new industry body that claims to be committed to promoting a safe, legal and well-regulated CBD market. “I think it’s really dangerous to spread this concept. We cannot imply that cannabinoid products can prevent COVID-19 without any data,” he said.

Doctor Andy Yates agreed: “The evidence for the use of CBD in COVID-19 is as strong as the use of carrots, they do not exist. During a period of great national and international challenges that we face, we as a CBD industry cannot come close to offering false hope.”

“There is no evidence that hemp or CBD improves welfare or health,” O’Sullivan said. “But yes, people will use products that they realize will improve their immune systems or health, like vitamins and supplements.”

Neurosurgeon Pedro Pierro, Brazil’s pre-writer of medical cannabis, said that cannabis can help strengthen the immune system, but warns that the epidemic is on the rise: “Cannabidiol and most cannabinoids can help strengthen the immune system as a whole, but not as a treatment for the coronavirus and there is no medical indication at this time either,” Pierre said.

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(Featured image by R+R Medicinals via Pixabay)

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Michael Jermaine Cards is a business executive and a financial journalist, with a focus on IT, innovation and transportation, as well as crypto and AI. He writes about robotics, automation, deep learning, multimodal transit, among others. He updates his readers on the latest market developments, tech and CBD stocks, and even the commodities industry. He does management consulting parallel to his writing, and has been based in Singapore for the past 15 years.