Virginia OK’s smokable flower on the transfer that would spark medical marijuana gross sales


NEWS SHORT

Released
February 22, 2021




Virginia lawmakers have overwhelmingly passed laws to allow smokable marijuana flowers to be sold later this year. This reform will dramatically increase sales in the state’s emerging medical cannabis market.

Flower sales often make up around 50% of market sales.

Governor Ralph Northam has supported marijuana, including calling for adult legalization, and he is expected to sign the bill.

The likely expansion of the MMJ product comes at a time when Virginia is on the verge of becoming the 16th state to legalize adult marijuana.

Virginia lawmakers have passed two separate adult use laws and are now working to resolve the differences.

The state launched its limited medical cannabis program in October with only four licensed vertical operators. A fifth license is free.

Proponents had worked hard to legalize smokable flowers in order to offer more affordable products to patients.

The updated Marijuana Business Factbook recently forecast that MMJ sales in Virginia would hit $ 9 million to $ 11 million this year. But the number could be a little higher depending on when Smoke Flower sales start.

The legislation requires the State Board of Pharmacy to implement the flower regulations including testing standards by September 1st.

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