- Sees opportunity in the passing of the new Farm Bill
- Signs new chief sales officer to distribute CBD products nationwide
- Orders first commercial production run of Hygee Kits
The passing of the new Farm Bill is big news for companies like Earth Science Tech, Inc. (OTCQB: ETST) that work within the cannabis industry. ETST is a Florida-based biotechnology company focused on cannabis and cannabinoid research and development, nutraceuticals, pharmaceuticals and medical devices. The newly passed 2018 Farm Bill removed hemp (including hemp-derived cannabinoids containing less than 0.3 percent THC) from the Controlled Substances act. According to New Frontier cannabis market data, the American CBD market is now projected to reach $2.3 billion in revenue by 2022.
ETST is taking advantage of the opportunities now afforded by the 2018 Farm Bill. In a recent press release (http://cnw.fm/jn2M9), the company announced a change in staff. David Barbash has been signed on as its new chief sales officer, beginning in 2019. He brings more than 20 years of new business development experience and is a proven negotiator, manager and motivator. Barbash will be responsible for distributing CBD products through his nationwide retail accounts. Jill Buzan, ETST’s current chief sales officer, is transitioning to direct ETST’s sales in Florida.
In a news release, Nickolas S. Tabraue, president, director and chairman of ETST, stated, “[Barbash’s] expertise and enthusiasm will be tremendous assets as we ride the wave opportunity afforded by the legalization of hemp cultivation and hemp-derived CBD in the United States.”
The company also recently announced its first commercial production run of Hygee Kits (http://cnw.fm/OK2rd). The self-sampling kits enable women to discreetly test for sexually transmitted infections (STIs) such as chlamydia. The World Health Organization (WHO) recommends that women between the ages of 15 and 25 who are sexually active get tested yearly for chlamydia. This demographic represents a market of approximately 500 million women worldwide. Initial marketing for this first product run will target North America, South America, Asia and Africa. Packaging for the kits will be available in English, French, Portuguese, Spanish, Vietnamese and Arabic.
Hygee is convenient, efficient, affordable and anonymous. It is considered a ‘mistake-proof’ medical device that comes with simple instructions that allow for successful use on the first try. According to WHO, there are approximately 130 million new chlamydia cases diagnosed each year. Pregnant women are screened to minimize the risk of transmitting the infection to their babies during childbirth. Chlamydia is a global issue, and sales of Hygee are projected to reach between $1.5 million and $2.5 million in the first year. Second year sales are projected to reach $1 million monthly, and, by the third year, sales are expected to rise to $20 million yearly. By 2023, the global medical device market is anticipated to surpass $400 billion (http://cnw.fm/NBS6s). While Hygee is set to be launched early in 2019 for the detection of chlamydia, it is only the beginning in terms of what the company has planned in the medical device space.
“We believe that ETST has developed the best tool on the market to fight STIs, which will provide an exceptional service to women who use Hygee,” added Tabraue. “The production of the first batch of Hygee is very exciting. Our team believed in the success of Hygee from the first day we acquired it. Now, we will do everything possible to spread this fabulous medical device everywhere on the planet to protect women and their future babies from the terrible, adverse effects of chlamydia and other STIs.”
For more information, visit the company’s website at www.EarthScienceTech.com
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