1906 New Highs Leverages Cannabis 3.0 to Give Consumers Safer and More Effective Aids for Sleep, Anxiety, Mood, and Focus

The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

As Americans continue to seek out products to make them sleep, focus, have more energy, and perform better in bed, very little is being discussed about how many of these over-the-counter solutions may have negative health effects in the long term. The irony in this discussion is that there is emerging marketing of products to help people looking for help and relief in these areas being ignored or maligned by some because of one ingredient — THC.

Colorado-based 1906 New Highs (named for the last year cannabis was widely accepted as a beneficial medicine) has become the fastest-growing brand in the state by revolutionizing self-care “one edible at a time.” 1906 has created a new category of cannabis to amplify health and happiness with products called Go, Genius, Love, Chill, Bliss, and Midnight combining moderately-dosed THC with medicinal plants and adaptogens.

And while over-the-counter products like melatonin for sleep are prevalent across the country, products like those produced by 1906 are still limited to only those states that have legalized cannabis. For 1906 founder and CEO Peter Barsoom, this fact is absurdly out of whack with what he perceives is needed by consumers.  

“Melatonin is the most abused and overused supplement in America; it’s not intended to be a daily supplement,” Barsoom told Benzinga. “It’s habit-forming, it makes you groggy and it’s not a sedative.”  

Melatonin sales had been steadily rising for years before the COVID-19 pandemic. Still, as consumers reached for it to get through 2020, according to data provided by SPINS (Chicago), a leading wellness-focused data, analytics, and technology provider, melatonin ingredient sales grew 43.6% to $573 million. That ranked melatonin number 5 on the list of 25 best-selling mainstream supplement ingredients. Melatonin grew just as impressively in the mainstream sleep category, rising 46.9% to $536 million and significantly outperforming its category competitors. 

Tobe Cohen, the chief growth officer of pharmaceutical giant Otsuka Holdings OTSKF, said, “Lockdowns over COVID also created a scenario in which activities outside the home were limited, and electronic devices played a greater role than before. The combination of a stressed-out populace that is adopting bad sleep hygiene habits such as increased screen time amounts to people having a harder time getting to sleep or struggling to maintain restful sleep.”

1906’s Barsoom believes that his products are predominantly safer, more effective, and the industry’s future, pointing out that “This is cannabis 3.0. Low dose control is where cannabis is going. It’s not about getting high; it’s about feeling a particular way when dealing with issues like sleep, anxiety, and depression.” 

Barsoom, after 2 decades in finance, founded 1906 with the goal of leveraging cannabis versatility to dispel the belief it makes you feel out of control, with edibles having unpredictable effects on behavior. “This is cannabis 3.0. Low dose control is where cannabis is going. It’s not about getting high; it’s about feeling a particular way when dealing with issues like sleep, anxiety, and depression.” Instead of simply jumping into the industry to try and capitalize on trends, Barsoom focused on creating a brand like nothing else out there — with functional formulas and a crucial step of making them kick in ASAP.  

These innovations and a unique product offering have been hallmarks of 1906 since the start. Companies that are broad-based cannabis players — like Tilray TLRY and Curaleaf CURLF — haven’t yet dug into the growing niche of easily portable, ingestible, and controlled products like 1906’s, but Barsoom is seeing broader movement in that direction. “We are seeing emerging trends where companies are claiming they have products which are fast-acting or possess a functional benefit.  The fact is,1906 is the only proven fast-acting technology in the world,” Barsoom concluded. 

Toward New Heights

1906 is leaping over its cannabis pill competition (as exhibited in the chart below), with net revenues growing from $5 million to $12M from 2020 to 2021 and a company estimate to maintain a 240% growth rate into 2022.

Chart provided by 1906 New Highs

“We took a category that didn’t exist. We created the market overnight,” Barsoom added, who says he believes some of the reasons consumers are coming back to his products is that the number of inbound testimonials and demand from partners in new markets proves the company is developing products that people want. 

1906 products are now available through licensed dispensary partners in Colorado,  Massachusetts, Illinois, and Oklahoma.

For more information on 1906 New Highs, go to www.1906newhighs.com. 

The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.