Capitalizing on the emerging CBD global market, which is forecasted to exceed $22 billion in the US alone by 2024, the two companies will begin jointly introducing products in the 1st quarter of 2020
Flowerkist Incorporated announced today that the company has entered into a proprietary agreement with Dabur Research Foundation (DRF) to develop and launch a wide range of 100% hemp-based CBD infused topical products with its patent-pending "Rapid Penetration Technology.™" Under the terms of the agreement, DRF will provide formulation development as well as verification of safety and efficacy. Flowerkist will be responsible for global distribution and marketing of the products. Althea DRF, an affiliated organization of Dabur Research Foundation, has also entered into an agreement to invest an undisclosed amount in Flowerkist.
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Flowerkist (Photo: Business Wire)
Dabur Research Foundation (DRF) is a world renowned GLP and AAALAC accredited product development and research organization headquartered in Delhi, India. It was established in 1979 as an in-house research and development arm for new innovations for Dabur. Through product innovation and superior performance, Dabur has become one of India’s largest Ayurvedic medicine and natural consumer product companies. Today Dabur annual revenue exceeds $1 billion (US) and is traded on the NSE (symbol: DABUR).
"In 2016 we saw the emerging market in medical cannabis," commented co-founder/CEO of Flowerkist, Barry Clark, "and decided to focus on topical hemp-based products and avoid any association with psychoactive substances (i.e., THC)."
"However, until the Farm Bill was passed in December 2018, which made 100% hemp-based products federally legal," he went on to say, "we had multiple challenges in attracting the optimal resources."
"We are very excited about the opportunity to be a partner and, through Althea DRF, an investor in Flowerkist," said Dr. Manu Jaggi, COO of DRF. "For the last several years, we have been investigating the biology of cannabinoids including CBD and working on various technologies to overcome challenges in delivery of efficacious products in this space. What attracted our attention was Flowerkist’s superior vision on how to best capitalize on this emerging global category."
Aside from being committed to 100% hemp-based CBD, both companies are committed to delivering only products that have been validated to be safe and effective. This is a significant gap in the overwhelming majority of existing CBD product lines available to consumers. A recent investigative report by Dr. Mehmet Oz with ConsumerLab.com revealed the plethora of misrepresentations being made by CBD companies.
About Flowerkist Incorporated
Based south of Los Angeles, Flowerkist Incorporated is a sales and marketing organization that is focused on the commercialization of topical CBD products. Under the brand name Flowerkist, the company is launching a line of skin care and cosmetics. The company is also launching a comprehensive line of therapeutic products under the brand name NuLIFEfx.
About Dabur Research Foundation
Based in Delhi, India, Dabur Research Foundation is a research and development organization offering a diverse portfolio of services to support and collaborate with global leaders in nutraceuticals, cosmeceuticals, and pharmaceutical products as well as collaborating with leading medical research institutions (e.g., Harvard Medical School) and global pharmaceutical companies.
Flowerkist Investor Relations