The medical cannabis structure that requires patients in Brazil to get individual authorizations to import their MMJ products is “insufficient” to meet growing demand in the country, according to a former sanitary surveillance agency director. The continuous increase of individual authorizations to import medical cannabis could force Agencia Nacional de Vigilancia Sanitaria (ANVISA) to make […]
Florida’s new governor announced steps Thursday that would open up the state’s lucrative medical marijuana industry to additional businesses and new products. Gov. Ron DeSantis, a Republican, asked the Legislature to: End a ban on smokable medical marijuana products, a move that could boost dispensary sales. Loosen Florida’s restrictive licensing rules to allow more MMJ […]
Oklahoma retailers sold nearly $1 million worth of medical cannabis in December, which are strong numbers for a relatively new market with limited product availability and few open dispensaries. Oklahoma voters approved a medical marijuana state question in June, and the industry has taken off quickly. More than 30,000 Oklahoma patients and nearly 900 dispensaries […]
The California Office of Administrative Law (OAL) approved final marijuana industry rules that regulators had published in December, paving the way for the state to implement a permanent regulatory framework for the nation’s largest cannabis market. The regulations, approved late Wednesday, take effect immediately, according to news releases from the Bureau of Cannabis Control (BCC), the […]
Local police found hundreds of vials with extracted cannabis in a dumpster behind a Massachusetts marijuana testing lab that provides services for almost all the state’s medical cannabis retailers. MCR Labs, headquartered in Framingham about 20 miles west of Boston, was one of the first two labs in Massachusetts approved by the state’s Cannabis Control […]
Tilray, the British Columbia-based cannabis heavyweight, signed a revenue-sharing agreement with Authentic Brands Group (ABG) to market and distribute consumer cannabis products within the New York-based firm’s brand portfolio. Under the terms of the agreement, Tilray will pay $100 million to ABG and up to $250 million in cash and stock upon achieving unspecified milestones. […]
More than 60 unlicensed medical cannabis dispensaries that were shuttered in Michigan are being allowed to again sell product, until March 31, in response to legal challenges and complaints about shortages. The state medical marijuana licensing board voted unanimously to allow dispensaries in the process of trying to get a permanent state license under a […]
Compliance costs, lost market share could take toll on cannabis edibles firms under new Washington state rules
A Washington state marijuana trade association is warning regulators that new packaging, labeling and product design rules for cannabis-infused edibles and beverages might decimate edibles manufacturers’ bottom line. According to experts, the cost for some businesses to comply could be $100,000, and that doesn’t include lost revenue for manufacturers who have kept new products off […]
Compliance costs, lost market share could take toll on cannabis edibles firms under new Washington state rules is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs
Canadian marijauna producers continue to march their way to global market domination, targeting Europe and South America for expansion.
New York Gov. Andrew Cuomo’s proposal to legalize recreational marijuana includes some business permitting and market constraints as well as taxes, according to budget documents released this week. Legislation hasn’t been introduced yet. But Cuomo’s initial plan includes these general proposals, according to his budget briefing book and the Rochester Democrat & Chronicle: Separate licenses […]
Wednesday marked the first day of medical marijuana sales in Ohio, with retailers reporting brisk transactions. Only four dispensaries were reported open in the state, a market that is projected to generate as much as $400 million in annual sales over time, according to Marijuana Business Daily estimates. Early on opening day, about 20 people waited […]
Medicine Man Technologies, a Denver-based consulting, intellectual property (IP) licensing and products company for the cannabis industry, announced its intent to acquire MedPharm Holdings, an IP development and holding company focused on cannabis research and product development. Financial details of the deal were not disclosed. Medicine Man told Marijuana Business Daily that it would speak more […]
Ashley Kilroy has overseen Denver’s recreational cannabis industry since Colorado launched adult-use sales in 2014. As director of Denver’s Department of Excise and Licenses and the agency’s Office of Marijuana Policy, Kilroy has seen cannabis business owners experience growing pains as the industry has matured. “Being first wasn’t easy,” she said. “We’re proud of what we […]
Building out a marijuana grow operation can land business owners in a quagmire of lost time and money if they don’t think ahead and follow some time-honored advice.
Attorney General nominee William Barr said during his Senate confirmation hearing that he would “not go after” state-legal marijuana programs if he is confirmed as President Trump’s next AG, a stance that drew praise from cannabis industry advocates. Barr was known for his tough approach to drug offenders while serving as AG in the early 1990s, raising […]
A Los Angeles jury recently awarded what could be a record amount of damages to date in a legal business dispute over a marijuana grow and retail business. The case, which was first filed in November 2016 in California Superior Court in L.A. County, came to a close on Dec. 17 when a jury found for […]
An Oregon-based business accelerator that’s designed to bolster the skills of female cannabis entrepreneurs, boost their opportunities and make their young marijuana firms “investment-ready” has kicked off. The Initiative launched its first intensive three-month program last week, focused on providing advanced business skills and expert advice to nine early-stage cannabis companies founded or co-founded by […]
An Oregon cannabis firm sued a California competitor, alleging the company circulated anonymous social media posts designed to undermine its brand, The Oregonian reported. The suit, filed in federal court by Portland-based Cura Cannabis against Bloom Farms, claims the posts focused on a sexual assault allegation against an executive who is no longer with Cura. […]
Colorado launched the world's first recreational marijuana market on Jan. 1, 2014, and in the ensuing five years, the state's cannabis companies have experienced booms and busts.
Alberta’s Aurora Cannabis has agreed to acquire privately held British Columbia-based Whistler Medical Marijuana Corp. – one of Canada’s first licensed producers – for 175 million Canadian dollars ($131 million) in an all-share transaction. The acquisition will add Whistler’s recognized cannabis brand to Aurora’s portfolio. It also provides Aurora a proven export channel. Whistler already […]
Missouri regulators, citing a provision in the state’s new medical marijuana constitutional amendment, won’t disclose the identities of those who’ve paid licensing fees to grow, process or sell MMJ. The decision may well make it harder for medical cannabis entrepreneurs to learn the names of would-be rivals in Missouri’s new MMJ market. The St. Louis Post-Dispatch […]
Surterra Wellness, a Florida-based medical marijuana firm and producer of CBD products that include oils, vaporizers and topical creams, acquired Massachusetts-based cannabis company New England Treatment Access (NETA).
Ahead of New York’s anticipated legalization of recreational cannabis, San Diego-based Flora California Prime is laying the groundwork to build a $200 million, 1.25 million-square-foot cannabis cultivation, manufacturing and distribution facility on 47 acres of land in Buffalo. According to Buffalo TV station WKBW, construction on the facility could begin once state lawmakers approve legislation […]
Global alcohol and tobacco companies could face losses of $55 billion a year if a fully legal cannabis develops in North America, a new report predicts, a key driver for why they’re looking to move into the blooming marijuana market. “For these two industries in particular, a move into the cannabis business is a necessity as […]
West Virginia’s financial institutions face risks when providing banking services to medical marijuana businesses because cannabis is illegal under federal law, the state’s attorney general, Patrick Morrisey, wrote in a new opinion. Banking has been one sticking point in the rollout of West Virginia’s medical cannabis program, which has been delayed by disagreements over rulemakings. According […]
A relatively new marijuana trade association is aggressively targeting federal cannabis law reform. According to The Hill, the Cannabis Trade Federation (CTF) hired 15 lobbyists to work in Washington DC to boost the States Act. The proposed national legislation would shield state-legal marijuana programs from federal interference as well as resolve banking and taxation issues plaguing the […]
Small-scale cannabis growers in Canada are facing such burdensome licensing regulations that fewer than 30 such applications have been made to Health Canada since legalization in October. One of the main problems regarding such licensing comes from restrictions imposed by municipalities, industry experts say. “Few municipalities have the zoning required to accommodate a micro-cultivation permit,” […]
The fragmented, state-by-state nature of the marijuana industry historically has been dominated by small, local players, but larger, publicly traded companies with multistate operations are becoming an increasingly prevalent force. Rapid consolidation and expansion among cannabis companies dominated 2018 with more than 300 mergers and acquisitions and a rash of reverse takeovers that allowed U.S. […]
An Arkansas cultivation company has planted the first crop of medical cannabis and growing is underway, a sign that the market’s long-delayed launch may be approaching. According to Arkansas TV stations KHBS and KHOG, planting began Jan. 10 at the Bold Team cultivation center in Cotton Plant, 75 miles northeast of Little Rock. The medical marijuana […]