The National Football League, one of the largest and most profitable sports leagues in the world, announced on Feb. 1 that it was donating $1 million to further research CBD, or Cannabidiol, as a pain reliever.
The funds will go to two current studies:
- “Effects of Cannabinoids on Pain and Recovery from Sports-Related Injuries in Elite Athletes: A Randomized Clinical Trial.” The trial is being conducted at the University of California San Diego.
- “Naturally Produced Cannabinoids for Pain Management and Neuroprotection from Concussion and Participation in Contact
Sports.” The trial is being conducted at the University of Regina in Saskatchewan, Canada.
Both studies are seeking to determine, in part, if CBD can be used effectively for pain management and to possibly reduce reliance on prescription opioids.
CBD Instead of Opioids for Pain Relief
The National Institute on Drug Abuse reports that more than 115 people in the United States die each day after overdosing on opioids.
In fact, the CDC (Centers for Disease Control) recently announced that estimated overdose deaths from opioids increased. They were 75,673 in the 12-month period ending in April 2021, up from 56,064 the year prior.
Meanwhile, in a University of Florida study it was found that 90% of retired NFL players report living with chronic pain due to injuries they sustained while playing.
CBD an Effective Pain Reliever
In prior animal studies, CBD has been shown to be effective for pain relief.
- “Attenuation of early phase inflammation by cannabidiol prevents pain and nerve damage in rat osteoarthritis.” In this study, which was published in the journal Pain, researchers found that CBD may prevent osteoarthritis pain and joint neuropathy.
- “Transdermal cannabidiol reduces inflammation and pain-related behaviors in a rat model of arthritis.” This study also found that CBD could provide effective relief of arthritis pain and inflammation.
What CBD Companies Could Benefit from These Developments?
All of this is good news (more recent market news) for microcap companies that are producing CBD related products and looking to gain market share.
Here are three CBD-related companies that are looking more and more like they could be poised for big gains in the future:
CV Sciences (OTC: CVSI) –
The company provides a variety of research-based solutions, including formulations containing CBD.
GW Pharmaceuticals (NASDAQ: GWPH) –
This company claims that it is a global leader in developing many different cannabinoid-based medicines.
Charlotte’s Web Holdings (OTC: CWBHF) –
This is a current leading provider of innovative hemp-based CBD products.
Featured Image: Photo by Dave Adamson on Unsplash.