Marijuana Business Factbook 2019

Marijuana Business Factbook 2019 Chapter 2 | State-By-State: Legal Overview, Market Data and Outlook 82 © Copyright 2020, Marijuana Business Daily , a division of Anne Holland Ventures Inc. You may NOT copy this Factbook, or make public the data and facts contained herein, in part or in whole. For more copies or editorial permissions, contact CustomerService@MJBizDaily.com or call (720) 213-5992, ext. 1. MARKET OVERVIEW Number of registered patients Approximately 5,000 (Louisiana does not keep a formal patient registry) Estimated 2019 MMJ sales via dispensaries $1.0 million-$1.5 million (down from previous estimate of $1.8 million-$2.2 million because of sales delay) SUMMARY What to watch in 2020 Louisiana’s limited medical marijuana industry heads into 2019 with cautious optimism. On the one hand, the state lifted its cap on the number of medical marijuana patients to whom a doctor could recommend MMJ and saw the harvest of its first legal crop in October 2018. But soon after that MMJ was harvested, Louisiana informed the industry that a delay in setting up independent testing meant the product could not be sold until 2019. The first crop was tested in February, although sales did not begin until early August. Industry advocates hope the state will remove its ban on flower and loosen restrictions on the number of companies eligible to produce tinctures. Marijuana Business Opportunity Rank for 2020 C- Two subcontractors run Louisiana State University’s and Southern University’s cultivation sites, and the nine initial dispensary licenses have been issued. Only one additional dispensary license will be granted following this initial round. A ban on flower sales further exacerbates the problem, as this has dampened enrollment in states with similar prohibitions. With physicians slow to sign up to recommend cannabis, patient access will also be a barrier to sales and growth. LOUISIANA Medical continued