Cannabis Briefs for January 30, 2024
January 30, 2024•The Cannabist Company has partnered with Revelry Herb Co. to bring Revelry’s pre-rolls to retailers in New Jersey, with Pennsylvania and Massachusetts in the pipeline, pending regulatory approval. Revelry Herb, part of the larger Revelry Supply, is currently only available in California. In addition to expanding the pre-rolls’ reach, the partnership will see Revelry produce custom accessories for Cannabist’s brands, including Seed & Strain.
•The Missouri cannabis market set a new record in December, hitting $106.5 million in adult-use sales, breaking the previous record of $98.7 million set in July. Retailers in the state report that total medical and adult-use sales reached $1.3 billion for the entire year, with the state revealing that adult-use sales were over $1 billion alone and the medical market contributed just over $300 million. As seen in other states across the U.S., as the adult-use market rises, the medical market falls, with Missouri’s medical sales at $16.8 million in December, the second-lowest medical sales for the year, just ahead of November’s nadir of $16.4 million.
•Canopy Growth has launched a host of new products across its Tweed adult-use portfolio, as well as medical exclusives for its 7Acres and Spectrum Therapeutics brands. For Tweed, Canopy is adding new CBD softgels and oils in both 6:1 and 4:1 ratios between CBD and CBG. In addition, Tweed will also release an ounce bag of Lemon Meringue Pie flower with a THC range of 23% to 29%. The company is launching Jack Haze pre-rolls for 7Acres and Spectrum Reserve pre-rolls, too.
•Attorneys for the Biden administration have asked a federal judge to dismiss a lawsuit challenging federal prohibition, brought by a group of cannabis companies. The Department of Justice’s attorneys assert that the lawsuit should be dismissed because the filing companies fail to establish that there is a significant risk of the federal government enforcing the federal laws against cannabis. The attorneys assert that even the companies’ filing shows that the government’s current policy is not to meddle in state cannabis markets. The companies have vowed to continue their suit.
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