Health Canada OK’s Limited Home Growing of Medical Marijuana
Ryan Allway
August 22nd, 2016
Policy, Top News
Medical marijuana patients will be permitted to grow their own cannabis or get someone to grow it for them under new, expanded rules coming into effect on August 24, according to Health Canada in a technical briefing earlier this month.
The news comes after a Federal Court judged struck down the Conservative government’s 2013 law requiring medical marijuana patients to buy cannabis from licensed producers rather than growing it on their own. The February 24 court decision found that restrictions on growing medical marijuana violated patients’ liberties under the Charter of Rights and Freedoms. The federal government was then given six months to come up with new rules.
Canadian citizens seeking medical marijuana will now be able to grow their own limited supply, designate someone else to grow it for them, or purchase it from one of the 34 licensed producers of medical marijuana under the MMPR program. The 28,000 patients who were previously allowed to keep growing their own medical marijuana under a 2014 injunction would also be permitted to continue growing the drug until new rules were established.
The move shouldn’t come as a surprise for many licensed producers, but the impact on the sector has been difficult to predict.
On one hand, illegal dispensaries and compassion clubs aren’t exactly a secret and are supplying five times more patients than licensed producers, according to some estimates. This implies that those unhappy with the current laws have already been outside of the law. Changes to the law could therefore by relatively benign with many existing LP patients sticking with mail order marijuana rather than going through the hassle of growing their own.
On the other hand, compassion clubs and similar venues could expand their presence with a green light from the government. Groups that grow on behalf of individuals could eventually advertise to would-be patients and potentially draw them away from licensed producers. The key will be the value proposition to consumers – e.g. will it be cheaper to grow through a third party or buy directly from a licensed producer?
Investors will be closely watching licensed producers over the coming quarters to gauge the impact of the new ruling on client numbers. If there are signs of attrition, investors can expect to see the value of licensed producers to fall. But, such attrition doesn’t appear all that likely to take place based on the current environment.
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
About Ryan Allway
Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.
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