Cannabis Science (CBIS), a biotechnology company specializing in the development of medicinal marijuana, has entered into a joint venture with Dupetit Natural Products to develop a line of hemp-based OTC products for the global market that will include skin creams, nutraceuticals and cosmetic products.
“Europe has an established and traditional hemp market and a awareness of the benefits of the products health potential. We have a unique opportunity to embrace, support and develop new and existing product lines already sold by Dupetit Natural Products. The potential of this new revenue stream as well as others, moves us closer to achieving our revenue goal of US $9 million in earnings in three years so that we can realize our goal of one cent per share in earnings for the shareholders,” commented Robert Melamede, president and CEO of CBIS, in a company press release.
Dupetit's global reach reportedly will help CBIS access growth opportunities outside the US market. In addition to the European market, the company also has plans to tap the Canadian and Australian markets.