marijuana stock news

It was reported last week that medical retail shops in Ohio began selling marijuana-infused gummy candies in limited quantities.

It was also reported that the first authorized legal edible product in Ohio was sold for $80. This paid for 11 gummies each containing 10 milligrams of THC.

Illinois has a highly controlled system for their medical marijuana program, like Ohio’s program, even though similar gummies are sold at $25 for 10.

Since the program is increasing very quickly, the price is likely to be very stiff. Only 29 growers, which is less than fifty percent of the state-licensed growers, have put marijuana flower or other related products in their dispensary stocks.

Out of the 39 marijuana licensed product makers, only 2 of them are actively functioning. Grow Ohio Pharmaceuticals was the first to sell gummies in the shape of squares in their retail shops. Standard Wellness Company plans to introduce the product initially in its Sandusky dispensary and later it will sell gummies across the state.

Within a few days of receiving the first shipment, all of the gummies were sold out at Ohio Cannabis Company. Customers in Ohio inquired to Miss Bethel, a dispensary employee, for the option to have dried bud. It can be vaped indoors rather than smoked outside.

As per the Medical Marijuana law, passed on May 2016 in Ohio, it is strictly prohibited to produce marijuana and marijuana related products that are appealing to kids. As a result, such products are not sold in shapes of fruits, gummy bears, or worms.

As a regulation, all edible products must have the letters “THC” stamped on them. Gummies must also state cautionary advice regarding the intake of such products causing delayed effects.

Ohio Sells of $5.8 million of cannabis In Past 5-Month

According to the Ohio Department of Commerce, Ohio has made a sales total of $5.8 million on cannabis from January 16th to May 05th. Since April onwards, Tinctures produced by Ohio cultivators were sold at dispensaries.

Marijuana can be bought and used solely by patients who qualify as having 1 of the 21 approved medical conditions. They also must be recommended by a state-certified physician. Medical marijuana producers also plan to have patches, topical cream and other varieties in their line of products.

So far, there have been 31,075 registrations for the Ohio program since April. 15 dispensaries have opened and around 49% of patients have used their cards at the dispensaries. High prices, long distance to the dispensary, and lack of product availability were the reasons patients weren’t visiting the dispensaries.


MAPH Enterprises, LLC | (305) 414-0128 | 1501 Venera Ave, Coral Gables, FL 33146 | new@marijuanastocks.com
Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like