mtm logo

Louisiana medical marijuana grower says it will cut prices

Jun 26, 2020  | Ep4545

BATON ROUGE, La. (AP) — Louisiana's only medical marijuana grower currently selling cannabis said it intends to slash the price of its wholesale products for the second time this year.

The Advocate reports that Wellcana Group, the Baton Rouge-based medical marijuana grower licensed by the Louisiana State University AgCenter, announced the move Monday. It comes after state lawmakers agreed to allow any doctor to recommend the use of medical marijuana for any debilitating condition, a decision expected to increase the number of patients buying the product.

"We think that this a big step," said John Davis, chief executive officer of Wellcana.

Wellcana sells directly to nine state-licensed pharmacies, some of which have already been discounting the retail price of medical marijuana for several months in response to patient demand for more affordable medication. Health insurance typically doesn't cover therapeutic cannabis.

The company currently offers cannabis in a flavored liquid tincture, a bottle containing a dropper to use. Wellcana said it's expanding into a new product that is a THC concentrate, which can be blended into food and drinks, expected by the end of the month.

Only the LSU and Southern University agricultural centers are authorized to grow cannabis in Louisiana. Southern's grower hasn't yet started its sales.

Grinnell Mutual Insurance
Sukup
Accu-Steel
Pioneer