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This Multibillion-Dollar Ad Agency Is Launching A Cannabis Consultancy Firm

This Multibillion-Dollar Ad Agency Is Launching A Cannabis Consultancy Firm

The international advertising and public relations company Havas Group, which is majority-owned by Vivendi SA (OTC: VIVEF) (OTC: VIVHY), has launched a cannabis consultancy firm: Havas ECS.

What Happened

The multi-office venture aims to become a “specialized strategic communications advisory and education company focused on the importance and value of scientific knowledge on the endocannabinoid system," according to Havas — hence the acronym ECS.

Havas said it's a first in the business of medical cannabis consultancy and a means of filling the wide misinformation gap that stands between consumers and cannabis products.

The company expects to educate consumers, medical professionals and companies on the science behind cannabinoids and the ECS in order to give way to more responsible practices within the entire cannabis value chain.

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Why It's Important

Havas is placing special emphasis on the risks behind consumer self-medication and the lack of cannabis expertise from medical professionals today.

It’s also expecting to become a major advisor for companies who aim to include cannabinoids in their products, but lack proper knowledge on how to do it safely and effectively.

The firm, which is expected to bring in $10 million in just its first year, will become active immediately, lead by Rob Dhoble, who comes from a health care communications background.

In an email, Dhoble told Benzinga, "The lack of opportunities for the medical community to learn about cannabinoid use is not only a concern, but it puts doctors in legal jeopardy. Legal risks, including risks related to unmanaged treatment regimens, drug interactions, and diminished treatment outcomes, exist for providers that do not clearly communicate with their cannabis consuming patients."

What's Next

The company said it has opened offices in New York and New Jersey and is planning to host its first educational conference this fall.

Over-the-counter Vivendi shares were down 0.57% at $27.87 at the close Tuesday.

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