Skinvisible to introduce cosmeceutical products with cannabidiol (CBD)

Skinvisible Pharmaceuticals is planning to introduce new topical and transdermal cosmeceutical products containing cannabis from hemp-derived cannabidiol (CBD).

Developed using the firm's patented Invisicare polymer delivery systems, the new products are being produced in partnership with CannaSkin.

Skinvisible's president Terry Howlett said: "Our research shows that Invisicare formulations have a much greater release of active ingredients than products in the marketplace, they resist wash-off and rub-off, while still allowing the skin to breathe naturally.

"In addition to these great benefits, it is our belief that our 15 plus years of topical product development experience, as well as our 14 technology and product patents, will stand-out in the cannabis marketplace as there is a great need for a science-based product line such as ours."

The firm intends to obtain licenses to produce and market the cannabis product line in 28 US states where it has been legalised, alongside other approved countries such as Canada.

It is reported that the legal marijuana industry in the US has reached more than $6bn in annual sales and is expected to increase to more than $20bn by 2020. The Canadian market is estimated to see initial annual sales of $2.5bn, which may increase to $10bn to $22bn.

While the firm does not sell cannabis directly, it sells its proprietary Invisicare polymers combined with proven product formulations and services to its licensees.

The Invisicare drug delivery technology is claimed to improve the delivery of ingredients to the skin.