India Globalization Capital (NYSE: IGC) was recently featured in an article detailing the company’s strategic move to the cannabis industry and future plans for the company. In the past, IGC was a company primarily focused on the beneficiation of iron ore. That focus changed a few years ago when iron ore prices plummeted, often selling below its cost of production. For the last three years, the company has shifted its focus to tackling the cannabis industry, or more specifically, medical cannabis use. The company is currently developing a portfolio to address epilepsy, cachexia, PTSD, Alzheimer’s, and Parkinson’s. “We came up with several areas where we felt that cannabis could really make an impact. Some of these areas, anecdotally, were already known; for example, pain. We came up with a formulation for pain and we filed a patent for that. It’s cream that can be applied to joints for different kinds of pain. Now, we are going to start doing clinical trials. Our objective is to not do anecdotal stuff, but to actually do clinical trials and eventually do the double blind placebo trials so that we actually have products that have been proven to work,” IGC CEO Ram Mukunda stated in the article.
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