Thursday, March 2, 2017

India Globalization Capital, Inc. (NYSE MKT: IGC) Targets Cannabis-Based Pharmaceuticals

India Globalization Capital, Inc. (NYSE MKT: IGC) is a company in transition, now targeting pharmaceutical development in the U.S., while curtailing other businesses such as electronics trading in Hong Kong. IGC long-term plans are to establish and extend its development of phytocannabinoid-based pharmaceutical products to treat diseases such as epilepsy and cachexia. The company expects to file more patents and develop additional intellectual property in the health care industry.

In the U.S., IGC develops phytocannabinoid-based treatments for epilepsy, seizures and cachexia. The goal in 2017, per CEO Ram Mukunda, is for the company to expand its cannabis-based portfolio, indicating that IGC will begin preclinical trials of IGC-501-Pain, IGC-502-Seizures and IGC-504-Cachexia ( The company has formed a Phytocannabinoid Development Committee to review global medical facilities prior to beginning its preclinical trials. Toxicity evaluation and pharmacological assessments will be performed on each compound in preclinical trials.

Based in Bethesda, Maryland, IGC also manages real estate, leasing and development of properties. In India, it leases heavy equipment. In Malaysia, it manages commercial and residential real estate. In Hong Kong, the company previously operated a electronics business, but it has subsequently moved away from that activity. Long term, IGC aims to establish itself as a specialty pharmaceutical provider. It has already filed five provisional patents for its phytocannabinoid-based pharmaceutical and nutraceutical products in the U.S.

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