Welcome to the latest installment of "Bulls and Bud," a column where we take a look at some of the most promising stocks and brands in the legal cannabis industry.

CB2 Insights

With all the hype surrounding the continued legalization of adult-use cannabis throughout the United States, it's easy to lose sight of the fact that cannabis is also medicine. A very effective medicine, too, for many people.

Veterans with PTSD and traumatic brain injuries; kids with epilepsy and autism; folks suffering from anxiety and Tourette’s Syndrome. The list goes on and on.

Yet in terms of getting this medicine to people who need it, we’re still in the very earliest stages of development.

This is unfortunate for those who could realistically benefit from legal access to medical cannabis, but it does create an opportunity for investors who want to invest in something that has all the makings of a Big Pharma juggernaut.

This Could Be Huge

The fact is, there really aren't a lot of quality medical cannabis stocks out there that are taking the “medical” part of all of this seriously.

Certainly there’s GW Pharmaceuticals (NASDAQ: GWPH), which created the first FDA-approved drug comprised of an active ingredient derived from marijuana to treat certain forms of epilepsy. That stock, of course, has made a lot of investors a lot of money.

In January of 2016, you could’ve bought shares of GW Pharma for $59. Last month, the stock crossed $175 a share. That’s a gain of nearly 200 percent.

Or consider Aleafia Health (OTC: ALEAF), which runs the largest network of cannabis clinics in Canada. These particular clinics actually have the ability to cultivate certain cannabis strains to meet the specific needs of their more than 50,000 patients.

While Aleafia is a cannabis play, when you look at its operations, and it’s war chest of capital, it looks very similar to a Big Pharma play. And so does its chart:

Another company that’s taking more of a “Big Pharma” approach to medical cannabis is CB2 Insights (CSE: CBII).

CB2 is essentially implementing traditional health care protocols to the cannabis industry, so it can effectively integrate with the health care industry.

Boasting the largest cannabis patient registry in 12 states, CB2 has developed the industry’s first clinical decision support tool, which physicians use as a guide when prescribing medical cannabis.

Although this may not sound as exciting as an edibles company or fancy dispensary, the amount of money these guys could make, is very exciting. After all, we’re talking about utilizing data and data analysis to mainstream cannabis into traditional healthcare. This could be huge.

CB2 is on track to do about $9 million in revenue this year, although the company’s revenue goal for 2019 is about $15 million. CB2 expects to reach this goal through acquisitions and organic growth through existing operations.

If CB2 can effectively expand its operations while continuing to grow revenue, it could prove to be paramount in the race to integrate medical cannabis into the traditional healthcare industry. And such a thing would make it a very attractive acquisition target.

Dr. Kerklaan Therapeutics

I have to be honest… I haven’t used many cannabis-based topicals, so my experience here is limited.

That being said, there is one topical I absolutely swear by.

It’s made by a company called Dr. Kerklaan Therapeutics, and it has proven to be incredibly effective in treating some of the muscle and joint pain I sometimes get after a particularly hard workout.

Although nowhere near being a professional athlete, I do spend a lot of time doing crossfit. I absolutely love it, and have found it to be an incredibly valuable part of my life as it keeps me both physically and mentally fit.

Of course, there are times when I overdo it, and my body reminds me that I’m not 25 any more.

I used to reach for anti-inflammatories on particularly sore days, but these days, I much prefer Dr. Kerklaan’s Natural Pain Spray.

I actually use the one that has a 1:1 THC:CBD ratio. But it seems as if the straight CBD variety is more readily available, and can actually be purchased online. I haven’t tried the non-THC version, so I don’t know how effective it is, but I can tell you the 1:1 spray I use has been a godsend. Particularly on my shoulders and feet, which tend to get beat up pretty good.

One thing I really like about this spray is how quickly it works. Just spray it on, rub it in for about 30 seconds, and within minutes, the pain is gone.

Now I’m not a scientist, and I don’t pretend to understand how or why it works. All I know is that it does. And the best part is, it doesn’t contain any sketchy chemicals, it doesn’t have that overpowering menthol smell that tends to burn my eyes, and it doesn’t leave any weird residue on my skin.

Now I don’t know how effective Dr. Kerklaan’s spray would be for professional athletes, but for a guy like me, who simply just wants to stay healthy and not disintegrate into a mushy mess, Dr. Kerklaan’s absolutely does the trick.

Jeff Siegel is the co-founder and managing editor of Green Chip Stocks, a private investment community focused on socially-responsible investing. He is an expert in renewable energy and cannabis investing, has been a featured guest on Fox, CNBC and Bloomberg Asia, and is the author of the best-selling book, "Investing in Renewable Energy: Making Money on Green Chip Stocks."

Photo by Javier Hasse.