The Moscow Times
Investment group Sputnik and its Russian partners have purchased a 35 percent stake in PalliaTech, an American producer of marijuana-based pain medication.
The deal was worth $10 million, making it a relatively small investment for Sputnik, its CEO Boris Jordan told Vedomosti on Wednesday.
PalliaTech was established in New Jersey in 2010 — the same year that the state legalized the cultivation of marijuana for medical purposes — and has a research center in Colorado, where medical marijuana has been legal since 2000.
The production and use of marijuana for medical purposes is now legal in 19 states in the U.S., according to the American NGO Procon.
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