Pacific Therapeutics  and Voda Innovative Pharmaceuticals recently collaborated to work on a common project to derive more lifesaving therapies from the products of cannabis. Pacific realized a steep 50 percent rise in its shares in recent times owing to this development.

After the sway of medical cannabis campaign in the states, Vodis has also applied to the state authorities seeking the license for supplying medical marijuana products at 12,000 sq-ft space in the country. Recently, it also tapped Washington State for legalized recreational marijuana by setting up its production site spread in 25,000 square-feet area. As per the deal between two companies, Pacific will utilize special strain produced by Vodis to develop essential drugs for the medical world.

It’s also being speculated that this deal may bring a breakthrough in the world of medical treatment where medical drugs can seamlessly be produced throughout the year. As per the CEO and President, consistent supply of cannabis will enable the medical wing to utilize the therapeutics to make prominent doses of cannabinoids to the seekers. He also added that they are highly pleased in getting the deal successfully done with Vodis where they can take the strain from Vodis to supply and produce the therapeutic, which is having high demand in the market.

The core mission of Pacific is to reengineer the approved drugs with higher level of efficacy and consumer compliances, minimizing the side effects. Diseases with excessive scarring like fibrosis and erectile dysfunction will be the prime focus of the company.

The CEO also added that the award winning products of Vodis will definitely prove as a promising composition for the venture operations as it comprises of essential therapies by product development.

Such a venture will undoubtedly encourage the enthusiastic growers to add to the current economy of the country. In Canada, the medical marijuana market has soared up to magnificent figure of $1.5 billion per annum and in states like Colorado and Washington where both the medical and recreational marijuana are legalized, it’s expected that we may get to see multi-billion sales figures soon enough.

The enormous applications are now under process with the Canada health department for approval of doing cannabis product business. As per analysts, the industry will reach a turnover of $1.3 billion by 2024 and users will be 10 times more in five years. Till now, only 13 licenses have been approved by the authorities, but things will surely get better over time.