Why it matters:
A new report from the Virginia Cannabis Control Authority (CCA) reveals that high prices in Virginia’s medical cannabis market are driving patients to seek cannabis products in neighboring states.
What they are saying:
According to the report, 12% of patients in Virginia travel to other states, primarily Washington, D.C. and Maryland, to purchase cannabis. Patients in Virginia spend more on cannabis than non-medical consumers in the state, with an average of $19 per gram for medical cannabis flower. The report also found that 90% of patients obtain cannabis from sources other than the Virginia medical market, including the unregulated market and home cultivation.
The big picture:
Virginia’s medical cannabis program has low patient participation, with only 0.5% of the total state population enrolled as patients. The report highlights that Virginia’s restrictive policy framework, limited licensing, and availability of cannabis from other markets have contributed to low participation.
What to watch:
The report suggests five potential pathways to improve patient access to medical cannabis in Virginia. These pathways aim to increase supply, lower prices, and shift patient demand to regulated Pharmaceutical Processors. Some potential solutions include issuing remaining Pharmaceutical Processor licenses and allowing cultivation, manufacturing, and dispensary licenses to operate within any Health Service Area.
My take:
This report underscores the challenges faced by Virginia’s medical cannabis program and the need for improvements to ensure patient access and reduce prices. It is crucial for policymakers to address these issues and create a more robust and affordable medical cannabis market within the state.
