GB Sciences Inc.
The state legalized marijuana for medicinal purposes back in 2015, but it restricted cultivation and production to just two sites: Louisiana State University and Southern University. LSU turned to Las Vegas-based GB Sciences as its commercial partner and they began working on a plan to supply nine registered pharmacies in Louisiana as quickly as possible.
However, the whole process was beset by delays, including a petty squabble sparked by the Louisiana Department of Forestry and Agriculture. The state’s governor, John Bel Edwards, felt obliged to step in and urge the two parties to resolve their differences to end years of waiting for patients.
GB Sciences then raced ahead with cultivation plans and it has finally yielded the first products – a limited selection of tinctures – this week. Two cancer patients and a veteran Marine suffering from PTSD were the first people to receive legal marijuana doses in the state after visiting a pharmacy in Baton Rouge this week.
GB Sciences said it will continue to roll out more products when its crop at LSU increases, although smokable flower is prohibited.
“This is a watershed moment for our company and the State of Louisiana, reflecting many years of research and development by GB Sciences into the cannabis plant’s biopharmaceutical applications,” said John Davis, president of GB Sciences Louisiana.
Just 81 doctors have registered to prescribe medical marijuana in the state, and GB Sciences will hold a series of seminars this month, in partnership with pharmacies and the LSU AgCenter, to educate Louisiana’s physicians and pharmacists about the new medical cannabis products that the company will launch in coming months.
The idea is to help doctors and pharmacists understand the potency of the cannabis products it has created, and the list of conditions they can be used to treat.
Southern University and partner Ilera have only just planted their first crop and they will not have products ready for several weeks, so GB Sciences holds a monopoly on the state right now.
The opinions provided in this article are those of the author and do not constitute investment advice. Readers should assume that the author and/or employees of Capital 10X hold positions in the company or companies mentioned in the article. For more information, please see our Content Disclaimer.