Quotes gathered from the medical marijuana industry’s top market makers
Quotes gathered from the medical marijuana industry’s top market makers about the trends they saw in August and plan to continue to see through September.
Michael Bologna, CEO of Green Lion Partners, a Denver-based business strategy firm focused on early stage development amongst firms in the cannabis industry:
“The medical marijuana industry will continue to expand with increased opportunities for research. A wider range of consistent and efficacious products across many delivery mechanisms will be formulated based on the evidence discovered by scientists in states like Pennsylvania that encourage the study of cannabis. Encouraging work is already underway internationally as well, especially in Israel, that will lead to a sorely needed normalization and increased availability of cannabis based medicines.”
Dr. Andrew Kerklaan, President & Founder of Dr. Kerklaan Therapeutics, a robust line of doctor-designed, lab-tested, patient-approved cannabis products that provide pain relief, sleep aid, PMS relief, and skin health:
“Not to be confused with the buzzy “micro-dosing,” a measured dose is a standard basic requirement in traditional medicine. Thankfully, this protocol is quickly becoming the gold standard in today’s medical cannabis industry. And just in time. Anybody who has ever ingested a bit too much brownie will be relieved these innovations are taking place. From the many popular pre-filled vape pens which ensure a precise dose each time, to topicals clinically designed to accurately deliver the optimum concentrations to patients in pain, properly measured dosing is clearly the future. Medical professionals (like me) eagerly await the day when metrics on therapeutic response to cannabinoids and terpenes are readily available. Back to micro-dosing. One reason it’s all the rage? It’s linked to the philosophy that with all medicine, it’s wise to search for the minimum effective dose. Remember that when you nibble on that edible.”
Adam Levin, CEO of High Times, the leading publication in the U.S. cannabis space:
“One of the biggest trends in the cannabis industry has been towards quick access to data, along with an increasing focus on industry-wide updates. Information is an invaluable tool for any business owner, and given the current climate surrounding the cannabis space, easy access to regulatory updates is crucial to success.”
Sally Vander Veer, President of Medicine Man, the largest cannabis dispensary in Denver, Colorado:
“A trend that we are excited to see at Medicine Man is an influx of new delivery systems for patients that are produced in pharmaceutical-like environments with a focus on purity and consistent dosing. Products in forms such as inhalers, pills/capsules, and sublingual’s are providing our medical marijuana patients with familiar, smokeless options to take their medicine.”
Mitchell Kulick, Partner at Feuerstein Kulick LLP, a cannabis law firm providing legal services to companies, funds, investors, and lenders in the space:
“Due to inability to cross state lines with marijuana products, the business has evolved into an intrastate industry. This reality has forced many companies that are looking to expand into new states, to license their brands, intellectual property, formulations, etc. to local partners in such other states. This marijuana-based anomaly has created an interesting situation that can be made into lemonade. Rather than having to make capital expenditures, by entering into a licensing deal with a local partner, an expanding company can get upfront fees, sometimes a significant amount of money, and a continuing royalty with respect to future sales by the local partner. For a company with a less-than-stable balance sheet, this can be a great source of non-dilutive financing and, for a company with a healthier balance sheet, it can be a nice payday with great future upside potential.”
Bethany Gomez, Director of Research for Brightfield Group, a cannabis-focused market research firm providing accurate and comprehensive consumer, brand, and market insights in the cannabis industry:
“An increasing focus on other cannabinoids beyond THC, primarily CBD but also THCa, is one of the most notable trends in the medical marijuana market right now. As patient awareness about the plant grows and the level of sophistication of cultivators and processors develops, more precisely targeted products are becoming available to target patient needs. Brightfield Group estimates that sales of marijuana-derived CBD through medical markets nationwide will grow by 30% in 2017, versus 16% for total sales through medical marijuana markets for the year.”
Ethan Andersen is a drug law reform advocate and a Registered Lobbyist in the state of New Jersey, with a background in political consulting and grassroots advocacy. Ethan focuses on developing progressive solutions to problems impacting disenfranchised populations throughout the U.S. through a combination of digital campaigning, public affairs and field organizing.