Since the Food and Drug Administration (FDA) gave a green light on using cannabis for medical usage and hemp for cosmetic products, DOD Biotech Public Company Limited (DOD) has been the center of focus from other companies wanting to enter cannabis and hemp-related business.
What makes DOD stand out is that every cannabis and hemp-related product whether it be cosmetics, supplementary foods or beverages must go through the extraction process, while DOD claims that it is the only company in the market that acquires a license from FDA to import hemp seeds.
The company is expecting to acquire the license to distribute help seeds and approval to establish a factory to extract hemp-derived cannabidiol (CBD) as a manufacturer and seller for hemp extracts as well.
Within half a month, DOD has signed three MOUs, starting with an MOU with JKN Global Media Public Company Limited (JKN) to develop around 10 products of hemp-based supplementary foods and beverages, which will be sold online and promoted through channel 8.
Afterward, the company joined hands with Chayo Group Public Company Limited (CHAYO), a debt management and collecting company, as a supplier of hemp seeds and the developer of the dietary supplements containing hemp as an ingredient for distribution.
In the latest movement, DOD has cooperated with Rojukiss International Public Company Limited (KISS) for research and development, as well as manufacturing products of dietary supplements skincare which contains hemp as an ingredient for KISS to sell in both domestics and international markets.
Maybe DOD’s next move could be a signing with a well-known company in the cosmetic field. Meanwhile, one of the entertainment businesses located somewhere in Asoke Road also revealed that the company is expecting to proceed with the hemp-related business as well.
Some said that there are more than 20 companies lining up to sign MOU with DOD.
This might be the opportunity for DOD to record a soaring performance.