MJBizMag February 2023 - 18

INDUSTRY DEVELOPMENTS National & International
Cannabis News
Housing Works
Cannabis Co.
prepares to open
for adult-use sales.
" The more dispensaries we open,
as well as those other enforcement
actions, is what's going to create
the push for folks to transition
from the illicit to the regulated
market, " Alexander said.
For now, shoppers at Housing
Works are greeted by official
signage, including a scannable QR
code, indicating the store is the only
regulated adult-use shop in town.
New York's Adult-use
Marijuana Market Faces
Hurdles After Sales Launch
Chris Alexander, executive director
of New York's Office of Cannabis
Management, made the ceremonial
first purchase of regulated
recreational marijuana in the state
on Dec. 29, paying $95 in cash for
an eighth-ounce of New Yorkgrown
cannabis and a 100-milligram
package of THC-infused gummies.
Housing Works Cannabis Co. in
Greenwich Village opened to the
public a few hours later.
More than 500 customers passed
through Housing Works' doors in
a little less than four hours on the
first day, according to a statement
from Sasha Nugent, the store's
retail manager.
With only a few products
available at Housing Works' doors-
and with New York's robust illicit
market still doing a brazen business
mere steps away-it's clear the
state still has a lot of work to do.
18 February 2023 | MJBizMagazine
Colombian Governmentfunded
Health Insurance
Now Covers MMJ
Government-funded health
insurance in Colombia now includes
medical cannabis coverage,
potentially expanding the market
for therapeutic marijuana in the
South American country.
A late-2022 move by Colombia's
Health Ministry resulted in increased
government health insurance
coverage of certain medical
procedures and medications,
including prescribed medical
marijuana derivatives, as of early
2023, Finance Columbia reported.
Cannabis company Khiron Life
Sciences hailed the development,
saying that it would " immediately
start filling backlogged orders of
insurance-covered prescriptions
in Colombia. "
" The new government is fully
committed (to) the use of medical
cannabis as a covered treatment
under the Colombian health system, "
Khiron said in a news release.
Khiron also said its medical
cannabis clinic operator, Zerenia,
had signed a contract with a major
Colombian insurer representing
more than 1.2 million patients.
" This is the first time an
insurance company in Latin
America is contracting medical
cannabis-specific services and
products, " Khiron said.
The Toronto-based company said
insurance-covered MMJ prescriptions
comprised more than 90% of
its Colombia cannabis sales during
the first half of 2022.
Survey: Canadian
Consumers Transitioning
to Regulated Market
More Canadians than ever are
purchasing cannabis primarily
from regulated suppliers instead
of illicit ones, according to the
government's annual Cannabis
Survey.
The survey based on responses
from roughly 10,000 people
suggests that, among those who
consumed cannabis in the past 12
months, 48% " always " obtained
their cannabis from legal sources.
That is up from 43% in 2021 and
37% in 2020.
The survey also found that 67%
of those who consumed cannabis
in the past year " never " obtained
their products from illegal sources,
while 15% " never " obtained their
products from regulated sources.
The survey has mostly publichealth
implications, but some of
the data is relevant for businesses.
Average monthly spending on
recreational cannabis appears to
be decreasing since legalization,
according to the survey.
Falling prices is one likely factor
in the change. Among those who
consumed recreational marijuana
in the past year (illegal and legal),
the amount they " typically " spend
each month has fallen from $55
(CA$75) in 2017 to $48 in 2022,
according to the survey.
MJBizMag February 2023

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