GOING MAINSTREAM
Will more mainstream companies invest in cannabis in 2022?
Some venture capitalists believe 2022 will see an influx of mainstream and institutional investment in the American cannabis sector, according to Insider. While companies like Altria and Constellation have invested in the Canadian market, VCs are predicting more interest in the US.
Two of the 14 VCs Insider interviewed weighed in:
- Beehouse’s Gregory Heyman said he thinks pharma, CPG, alcohol and tobacco companies will invest in “plant-touching” cannabis companies
- Jason Wild of JW Asset Management said to look for “high-profile” non-cannabis companies to enter the space
The takeaway
Non-cannabis companies “are losing market share to cannabis products that offer cheaper, better, safer, more specific, and healthier alternatives favored by first-time and longtime cannabis users across every demographic,” Heyman said.
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CANNABIS TODAY
Jim Belushi talks cannabis farming on the TODAY show
Actor-turned-cannabis cultivator Jim Belushi appeared on NBC’s TODAY show to promote the latest season of Growing Belushi, a reality show that shows the ups and downs of growing cannabis in Oregon.
“Being a farmer’s not easy,” Belushi said, referring to a clip showing he and friend Dan Aykroyd “You got mould, you got mites, you got gophers, you got squirrels, weather — I mean I feel like a cross between Bill Murray and Elmer Fudd.” But despite a few hiccups on the show, business is going well at Belushi’s Farm and the show will feature an upcoming guest appearance by Guy Fieri.
The takeaway
The warm TODAY welcome on daytime television demonstrates how normalized cannabis is, despite the absence of meaningful federal reform. If only every cannabis brand could snag a reality TV show.
MMM IN YVR
Canada’s first cannabis culinary facility opens in Vancouver
West Blvd Cannabis is Canada’s first cannabis-focused culinary facility, according to a press release. Armed with both micro-processing and research and development licences, the Vancoucer facility will “host on-site palatability testing for new product development and educational events” in collaboration with other licensed cannabis companies.
The company was founded by CEO Connor McNamee, CMO Nico Sto Tomas, Brad COO Quevillon and Director of Product Cayli Weinberg, and is located in Vancouver’s Mount Pleasant neighbourhood.
“We’re ecstatic to share this new facility with the Canadian cannabis industry,” said CEO Connor McNamee in a statement. “It’s been years in the making, and to finally be testing and developing unique products on-site feels surreal.”
CANNABIS ✔️
Czech Republic could be Europe’s fastest-growing medical market
Medical cannabis sales saw a 63% boost year-over-year in 2021, and they’re not showing any sign of slowing in 2022, reports BusinessCann. New legislation implemented Jan. 1 also means consumers can now acquire prescriptions electronically rather than in paper form, easing barriers to access.
By the numbers
- 109.4 kg of medical cannabis was available on the market last year, up from 66.9 kg
- The last three months of 2021 saw a record-high 5,500 prescriptions issued
- 80% of prescriptions are for treating chronic pain
- There’s a price cap of €6.41 per gram
The takeaway
“The figures have been increasing year-on-year and I don’t see them going down anytime soon,” said Prohibition Partners analyst Alex Khourdaji. “Products are becoming cheaper for insurers, there is more availability, and the number of doctors willing to prescribe is steadily increasing.”
