AVICANNA
Canada’s Shoppers Drug Mart is handing over the reins of its cannabis vertical to this biopharma company
Shoppers Drug Mart, one of Canada’s most recognized retail brands, plans to transition its Medical Cannabis by Shoppers business to Avicanna, a Canadian biopharmaceutical company focused on the research and development of cannabinoid-based products, reports Forbes.
The publication notes that Avicanna will launch MyMedi.ca which will provide pharmacist-led patient support programs and a product portfolio similar to Medical Cannabis by Shoppers at “competitive pricing.”
Jeff Leger, president of Shoppers Drug Mart, told Forbes: “As we move away from medical cannabis distribution, we remain firm in our belief that this medication should be dispensed in pharmacies like all others and will continue our advocacy to that end.”
VETERANS
Military veterans could get medical cannabis recommendations from government doctors under new bipartisan congressional bill
Marijuana Moment reports that bipartisan congressional lawmakers have refiled a bill to provide military veterans with access to medical cannabis. The bill would allow government doctors at the U.S. Department of Veterans Affairs (VA) to recommend medical marijuana to their patients in states where it’s legal.
As VA doctors are not currently authorized to issue recommendations on medical cannabis, even in states that have legalized the plant for medical or recreational use, supporters say the Veterans Equal Access Act is a concise bill that would provide a modest but meaningful reform for the veteran community.
Act sponsor, reps. Brian Mast (R-FL), who is a military veteran himself who lost his legs during service in Afghanistan, said to Marijuana Moment that “there’s absolutely progress going on, and I do have high hopes of policy and legislation moving” under the GOP-controlled House.
CURALEAF
Curaleaf acquires Utah medical cannabis retailer for $20 million
Curaleaf Holdings is spending USD$20 million to acquire Deseret Wellness, the largest medical cannabis retailer in Utah, reports MJ Biz Daily, increasing Curaleaf’s footprint to four dispensaries in the state and 150 nationwide.
The publication highlights that Utah retailers sold $118.7 million worth of cannabis in 2022, up nearly 59% from the previous year, and its medical patient count increased 51% in the same year.
Curaleaf CEO Matt Darin stated: “Utah is an important emerging market for Curaleaf, and we are excited to expand our medical retail footprint in the state. Deseret has built a strong and profitable business, and we believe the combination of our two companies will enhance our competitive position in the Utah market.”
