Rich Pharmaceuticals marks medicinal cannabis industry entry with launch of CannCodex

21 March 2017

USA-based Rich Pharmaceuticals (OTC PINK: RCHA ) has reached agreement with I Tech Health Corp to form a subsidiary and launch CannCodex to serve the medicinal cannabis industry as well as provide data and services to pharmaceutical companies worldwide.

The strategic move was identified as Rich Pharmaceuticals' management has been approached by numerous players in the cannabis industry seeking assistance in formulating a strategy regarding Food and Drug Administration approval of medical marijuana (MMJ) products.

"A significant number of executives in the cannabis industry believe that one path the government may take to regulating the industry nationally is to guide all producers into a regulatory framework like the FDA," stated Ben Chang, chief executive of Rich Pharmaceuticals. "We believe that building a database and providing related advisory services can help us bridge the period between now and when our drug pipeline starts to generate its own revenue stream," he continued.

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK