Virginia Medical Marijuana Market
Virginia Legislature expands medical marijuana program
On March 9, 2018, Governor Ralph Northam signed HB 1251 – also known as the #LetDoctorsDecide measure – into law. Now doctors in Virginia can decide by a case-by-case basis on appropriate treatments for any diagnosed condition.
Virginia has become the first state to expand a hyper-restrictive medical marijuana program from a single qualifying condition to any diagnosed condition.
The Virginia Department of Health Professions issued its Request for Applications to operate a pharmaceutical processor. These processors will be able to cultivate cannabis for the production and/or dispensing of CBD oil or THC-A oil.
Pharmaceutical processor winners are expected to be announced on September 25, 2018. The application review process will be confidential for the first five medical marijuana licenses. Medical marijuana applications will be treated as medical license applications, and are therefore exempt from the Virginia Freedom of Information Act.
Opportunity in Virginia
Licenses in Virginia are anticipated to allow for vertical integration.
Taking the time to put together a financial model and business plan now will help position you to raise capital, secure properties, win local approval, and recruit potential team members.
Conditions in Virginia
Virginia's medical marijuana program has bipartisan support in the state legislature and with key municipal leadership.
Preparing early is important for applying for a license.
Stay up-to-date on cannabis legalization in Virginia
Cannabis legalization is changing rapidly, and Canna Advisors can help develop your cannabis business from the ground up. For the latest news and events in the industry, visit our Blog and News and Events pages, or have a look at some of the following top articles on cannabis legalization in Virginia.
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