Author: Omar Sacirbey
[ad_1] (This story is part of the cover package in the November-December issue of MJBizMagazine.) If marijuana is moved from Schedule 1 to Schedule 3 of the Controlled Substances Act, that would expand both access and product selection for medical marijuana patients. But rescheduling likely wouldn’t impact how state-regulated MMJ dispensaries operate. “Schedule 3 allows essentially a new pathway for cannabis to be in the marketplace, which is through an FDA-approved drug channel,” said Amy Rubenstein, a partner with the international law firm Dentons. Pharma pipeline Rubenstein explained that moving marijuana to Schedule 3 would make it easier for companies to develop cannabis-based…
[ad_1] (This story is part of the cover package in the November-December issue of MJBizMagazine.) Some cannabis executives are hopeful that if the federal government moves marijuana from Schedule 1 to 3 of the Controlled Substances Act, then transporting MJ products across state lines will be allowed. But that is only partially true, marijuana industry lawyers say. Schedule 3 (as well as Schedules 4 and 5) permits interstate commerce only for drugs approved by the U.S. Food and Drug Administration, such as anabolic steroids, ketamine, testosterone and Tylenol with codeine – plus dronabinol, Marinol and Syndros, which are synthetic THC formulations used…
[ad_1] (This story and headline have been updated with a denial that Groff NA Hemplex has closed.) The main investor in a marijuana company licensed by the U.S. Drug Enforcement Administration says the company is “still operating” and recently renewed its agreement with the DEA. The statement is contrary to a Tuesday report quoting a former Groff NA Hemplex employee who told MJBizDaily that the company had “lost funding and has dissolved.” Robert Kinsley, CEO of Kinsley Enterprises, a Pennsylvania-based management company and the main investor in Groff NA Hemplex, told MJBizDaily via email on Wednesday that the DEA-licensed cannabis…
[ad_1] (This story is part of the cover package in the October issue of MJBizMagazine.) Executives often undertake business diversification as a hedge against their core business or the economy going sour. But in 2014, when Curio Wellness co-founder and Chief Brand Officer Wendy Bronfein and her partners conceived the idea for a Timonium, Maryland-based medical cannabis dispensary combined with a wellness store and a spa, the challenges facing MMJ entrepreneurs weren’t just economic but cultural. Diversification built in Bronfein and her partners built diversification into the business model not only to provide backup revenue for the company – Curio does…
[ad_1] (This story is part of the cover package in the September issue of MJBizMagazine.) Conventional wisdom contends that businesses and labor unions are naturally adversarial. But it doesn’t have to be that way. Companies that find ways to work well with unions can thrive, while those that don’t might lose money because of lawsuits or labor strikes and suffer the indignity of embarrassing headlines that hurt their brand reputation. Business and union interests are more often in agreement than they are in opposition, according to many executives and union leaders. “Happy, healthy, productive teams perform well and create an…
[ad_1] (This story is part of the cover package in the September issue of MJBizMagazine.) For evidence of headwinds facing the regulated marijuana industry, look no further than the cannabis labor market. As headlines from the past several months attest, employers ranging from multistate operators to small cannabis businesses to ancillary companies have laid off employees. And for the first time since regulated marijuana markets opened in the United States, the number of cannabis jobs in the country contracted during the past year, according to a report released in February 2023 by Denver-based marijuana industry recruiting firm Vangst. A national…
[ad_1] (This story is part of the cover package in the August issue of MJBizMagazine.) As marijuana consumers develop a better understanding and appreciation for terpenes, flavonoids and other chemical compounds found in cannabis flower, live resin products are becoming increasingly popular. Live resin can be used in many different products, but it mostly appears in vape cartridges, dabbable concentrates and edibles. The best way to create live resin is from freshly harvested material that still contains moisture, according to Nic Robertson, vice president of operations in Massachusetts for Phoenix-based multistate operator 4Front Ventures. Moisture is critical to live resin because it…