The applications for cannabidiol (CBD) and cannabinoid-based therapeutics are many. Many novel treatments have been, and are continuing to be, discovered using these compounds. The industry is huge with top players like Tilray Inc. TLRY and Cara Therapuetics Inc. CARA and more traditional pharmaceutical companies like Jazz Pharmaceuticals plc JAZZ entering the space.
For years Jupiter Wellness Inc. JUPW has created what it says are high-quality and effective CBD-based products. It has leveraged the healing power of CBD to help with all sorts of ailments from joint pain to sleep issues. The company owns a family of brands that has, according to Jupiter, consistently innovated and provided powerful products to its customers.
As the company matures, it has made several strategic moves to position itself as a more diversified pharmaceutical company — one that still harnesses the utility of cannabinoids but also looks to expand beyond solely that space. Jupiter has several potentially exciting drugs in both pre-clinical, clinical and over-the-counter (OTC)-approved stages.
Jupiter obtained the exclusive license to sell Photocil, which has been listed as an OTC drug in the U.S. It is an ointment that treats mild to severe psoriasis, a skin condition that affects more than 8 million Americans, according to the National Psoriasis Foundation.
The company’s drug candidate is designed to treat eczema, a global market that is estimated at $10 billion today and growing at a 13% compound annual growth rate (CAGR). It has seen promising results from a recent trial and is set to enter Phase 3 trials in which it will be tested against other industry leaders like Dupixent from Sanofi SA SNY and Eucrisa from Pfizer Inc. PFE.
Jupiter has developed JW-200 for the treatment of actinic keratosis (AK), the most common precancer that forms on the skin because of ultraviolet (UV) exposure. According to The Skin Cancer Foundation, 58 million Americans have one or more AK lesions, and if left untreated, 20% of those will develop into cancer. JW-200 is about to enter clinical trials for investigational new drug (IND) filing with the Food and Drug Administration (FDA).
According to Grandview Research, the potential market for 1st-degree burn treatment is $814 million. JW-300 has been developed to help the skin heal after a burn and is undergoing a study to prepare for FDA IND approval.
Designed to heal cold sores caused by herpes, JW-400 is designed to compete with GlaxoSmithKline plc’s GSK Abreva, which currently holds 71% of the U.S. market. That market is estimated at $320 million according to IBISWorld. The drug is in a trial that will allow for FDA IND filing.
With these products, Jupiter looks to be a pharmaceutical company that reaches a broad market. If you’d like to know more about the company, check out its website here.
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