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EYE-POPPING MEDICAL MARIJUANA PRICES IN VIRGINIA ARE DRIVING 90% OF PATIENTS TO
UNREGULATED SOURCES, STUDY FINDS

by Nina Zdinjak

November 29, 2023 8:20 AM | 2 min read



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Virginia Cannabis Control Authority (CCA) released a report Tuesday on its
medical marijuana market, revealing that the high prices are driving consumers
to buy products in bordering states. The 2023 General Assembly session requested
the CCA to review the medical marijuana program with a focus on patient access
and the need for new licenses, writes Cardinal News.

The consultants surveyed 1,827 consumers, of whom 376 are certified medical
marijuana (MMJ) patients. The 78-page report revealed that 90% of patients are
buying their MMJ from sources outside the state. The biggest proportion of grams
is procured via an unregulated, “but not necessarily illicit” market.


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STUDY SUMMARY

The study found that the Virginia medical cannabis program is struggling to
capture patients amid evolving local policies as well as adult-use policies in
bordering states, resulting in high prices. 

 * About 57% of MMJ patients obtained cannabis by growing at home and 65.2% of
   patients received cannabis from a friend or family. This indicates that
   recent home-grow and adult-use sharing legislation has negatively impacted
   the ability of Pharmaceutical Processors to obtain and meet demand.

 * Some 12% of patients report traveling to other jurisdictions, most notably
   Washington DC and Maryland where prices are much lower. 

 * Only 0.5% of Virginia's total population is enrolled in the medical marijuana
   program, which further supports the finding that individual can obtain their
   products elsewhere. 

 * Virginia patients reported spending an estimated $19 per gram on average for
   medical cannabis flower, which is higher than the national average. The study
   revealed that the average price per gram of flower in Virginia is actually
   around $14, which compares to $10 in Pennsylvania, $9 in Arkansas and $10 in
   Florida. 

 * Some consumers also complained about high registration fees, inconsistent
   supply, low potency and overall access. 



“In the current cannabis policy landscape, it is unlikely that the additional
stores for the existing firms could successfully serve as a mechanism to drop
prices, simply because pharmaceutical retailers would maintain regional
domination over supplying price,” said Mackenzie Slade, Cannabis Public Policy
Consulting’s executive director. “That is just the nature of the limited license
design, part of which we believe is the reason that prices remain high.”

CCC proposed several pathways that could help improve Virginia's medical
marijuana program. They include the issuance of the remaining Pharmaceutical
Processor licenses in Health Service Area I (HSA) or the addition of limited
standalone medical cultivation, manufacturing and dispensary licenses that can
operate within any HSA combined with enabling Pharmaceutical Processors to
expand beyond their six-store maximum within their area.

Photo: Benzinga edit with images by engin akyurt via Unsplash and Dee from
Pixabay

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these opportunities. Unlock market-winning strategies now with Benzinga Pro.

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Posted In: CannabisNewsRegulationsMarketsMackenzie SladeVirginia Cannabis
Control AuthorityVirginia Medical MarijuanaViriginia cannabis

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights
reserved.




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