Welcome to Senior Cannabis Digest. This week we look at President Biden signing cannabis reform legislation, CBD treats for dogs and cats, cannabis and health insurance and much more. Enjoy.
Cannabis and Public Policy
In what some are describing as an historic moment, President Joe Biden has signed a marijuana research bill into law. This has been described as the first piece of standalone federal cannabis reform legislation in U.S. history.
According to Kyle Jaeger, reporting for Marijuana Moment, the law gives the U.S. attorney general 60 days to either approve a given application or request supplemental information from the marijuana research applicant. The law is also said to create a more efficient pathway for researchers who request larger quantities of cannabis.
Jaeger notes that the research legislation encourages the Food and Drug Administration (FDA) to develop cannabis-derived medicines. For example, the hope is that the legislation will encourage accredited medical and osteopathic schools, practitioners, research institutions, and manufacturers with a Schedule I registration to cultivate their own cannabis for research purposes.
In addition, manufacturers will also be allowed to import cannabis materials to facilitate research into the plant’s therapeutic potential.
While most of the focus is on research, there was also a provision in the bill that states it “shall not be a violation of the Controlled Substances Act (CSA) for a State-licensed physician to discuss” the risk and benefits of marijuana and cannabis-derived products with patients.
Several legislators had positive statements about the President’s decision to sign the bill. For instance, Senator Diane Feinstein said in a tweet that she’s “pleased President Biden has signed into law our legislation to cut red tape around the marijuana research process.”
Added Senator Feinstein, “After years of negotiation, we’re finally enacting this bill that will result in critical research that could help millions.”
To learn more, we urge you to read Kyle Jaeger’s article in the December 2, 2022 issue of Marijuana Moment.net.
Cannabis and Insurance Coverage
Those who want to catch a glimpse of the future of medical marijuana and insurance coverage may want to turn their gaze northward.
A growing number of Canadian cannabis companies have decided to focus their attention on selling medical cannabis to patients whose purchases are covered by employee health benefit plans. They cite improved customer retention and consistency as their primary reasons.
That’s the word from Solomon Israel, writing for MJBizDaily. Israel reports that major licensed producer Aurora Cannabis and several other companies have adopted a benefits-focused medical strategy in response to the way prices have fallen in what he describes as “Canada’s fragmented, competitive recreational marijuana market.”
For example, Aurora Cannabis CEO Miguel Martin says sales to “insured patient groups” accounted for about 80 percent of the company’s 23.4 million Canadian dollars ($17.4 million) in Canadian medical cannabis net revenue in its first quarter. The company has a leading medical cannabis market share of 24 percent.
Said Martin, “Those that are in an insured program, by their very definition, buy more consistently, stay with similar pieces of medication for longer periods of time.”
Martin added, “The non-insured patients do appear to have a little bit of a smaller basket size, a little less interaction, and to be a little more variable.”
You can learn much more by reading Solomon Israel’s excellent reporting in the December 6, 2022 issue of MJBizDaily.com.
mjbizdaily.com/canadian-medical-cannabis-companies-look-to-benefits-covered-patients-for-growth/?
CBD and Pets: Tips on Treats
A growing number of pet owners are tuning to CBD products designed for dogs and cats as a way to address specific pet ailments or contribute to their pet’s wellness.
According to Keegan Williams, reporting for the online publication Hi There, there are a number of factors pet owners need to consider before selecting a CBD product for their pet.
Here are a few of his tips:
• Check with your vet before making CBD part of your pet’s daily routine. Depending on where you live, veterinarians may be more or less able to discuss this line of treatment, but they still have the most insight into your animal’s health and history. This conversation can be particularly important if your pet is already on other medications or has a history of pre-existing health issues.
• CBD dosage for animals is generally based on body weight. Starting at 0.2mg per pound is a good bet to confirm a conservative daily limit for your animal. Check the product’s label and consult with your vet for dosing recommendations.
• Full and broad spectrum products are generally preferred over CBD isolate since the additional compounds found in these products are said to help to enhance the effects of the CBD. For pets specifically, make sure the product you are choosing contains broad spectrum CBD and does not include THC.
Here are a few products Williams thinks are noteworthy.
When it comes to dog treats, he believes CBDfx CBD Dog Treats are the best, particularly when it comes to addressing anxiety and mobility issues.
The company offers two options, one called Stress & Anxiety and one called Muscle & Joint. There are 30 treats per bag with each treat containing 15mg of CBD. That makes them some of the most potent canine CBD products you can find.
Williams notes that the anxiety treats created for dogs also include valerian root, chamomile and passion flower to target stress, along with L-tryptophan, L-theanine and GABA to maximize the stimulation of the cannabinoid and serotonin receptors.
The mobility treats for dogs also contain glucosamine, chondroitin and turmeric root powder, all of which are said to reduce inflammation and pain associated with arthritis.
For dog owners looking for a low dose option, Williams suggests checking out CBDistillery products. The brand offers two options: Zesty Paws CBD Mobility and Cognition Bites Soft Chews. Each chew is just 5mg of CBD, with 45 pieces in each bag.
According to Williams, the mobility chews contain glucosamine chondroitin MSM and hyaluronic acid, which both work to promote healthy joints and connective tissue, which he calls great for canine wellness at any age.
The cognitive formula combines CBD with phosphatidylserine, a natural phospholipid known to support cognitive function; Lion’s Mane, a medicinal mushroom known for its nootropic properties and support for memory and focus; Ashwagandha, intended to help the body cope better with stress; and DHA from algae that is rich in omega-3 fatty acids that is said to help with brain development and function.
For cats, WIlliams suggests Holista Pet CBD Cat Treats. Each package contains 75 chews that have 2mg of broad spectrum CBD in each piece, along with tryptophan, to support rest and relaxation by naturally promoting sleepiness, and valerian root, which promotes calmness to help alleviate anxiety and stress.
If you’re looking to help your cat’s day-to-day wellness without a specific focus, Williams says Koi’s CBD Cat Treats are an excellent choice. He claims the veterinarian-formulated, all-natural ingredients “shine through” in each 2mg treat (with 75 in each bag).
Additionally the company’s website has a number of reviews from consumers new to cat CBD, unsure how their pets would respond and ultimately finding success. While this is a great product for general wellness, it also works well for a variety of specific purposes, such as arthritis, mobility issues or anxiety.
To learn more about CBD treats for your dog or cat, we suggest reading the informative and entertaining article by Keegan Williams in the November 30, 2022 issue of Hi There.com.
highthere.com/learn/cbd/cannabis-cats-dogs-best-cbd-pet-treats
Stat of the Week
This week’s magic number is 40 percent. According to the New York Medical Cannabis Industry Association nearly 40 percent of products purchased from unlicensed New York City cannabis shops tested positive for contaminants such as E. coli, lead, and salmonella.
That’s the word from Graham Abbot, who reported on the story —which appeared in Bloomberg—for Ganjapreneur. Abbott says the report, commissioned by the New York Medical Cannabis Industry Association (NYMCIA), investigated cannabis products purchased from 20 illicit New York City cannabis shops.
Abbott noted that in addition to the contaminants demonstrated through lab testing, every product was found to be noncompliant with the state’s proposed branding regulations, which outlaw packaging and product designs that could be considered attractive to children. The Bloomberg article stated that some of the tested products even featured images of copyrighted food brands such as Rice Krispies.
The report is further evidence that legalization is the key to regulation. One doesn’t have to be a cannabis advocate to understand that legal products purchased from a licensed retailer are much less likely to present a health risk.
To learn more, we suggest reading Graham Abbott’s article in the December 1, 2022 issue of Ganjapreneur.com.
www.ganjapreneur.com/cannabis-from-new-yorks-unlicensed-shops-tests-positive-for-e-coli-salmonella/?
Cannabis Sales Trends
Slowly but surely, legal cannabis sales are eating into the sales of beer, wine and liquor. So says Greg Abbott, reporting for Ganjapreneur on an article by Market Watch about a study by Cowen Equity Research.
According to Abbott, analyst Vivien Azerthe said the report noted the legal cannabis market has now grown to about 10 percent the size of the alcohol market — a fivefold increase from the 2 percent of the alcohol market that cannabis amounted to just five years ago.
Abbott noted that the company’s study reviewed about 20 years of government surveys and spending data and included an analysis of more than 8 million survey responses, which also made use of results from Nielsen and the Cowen Consumer Survey, to investigate the effects of cannabis on alcohol purchases.
Abbott also reported that Cowen Equity Research’s own survey also revealed that 60 percent of cannabis consumers report they have cut back on their alcohol consumption.
The analysts may have just identified the tip of the iceberg. Said Azerthe, “Cannabis should gain [four times] the number of consumers as alcohol [will gain] over the next five years … as younger consumers also take longer breaks from alcohol.”
To learn more about the study, we suggest reading Graham Abbott’s article in the December 2, 2022 issue of Ganjapreneur.com.
www.ganjapreneur.com/report-legal-cannabis-is-eating-into-alcohol-sales/?
Senior Cannabis Digest is compiled and edited by Joe Kohut and John Kohut. You can reach them at joe.kohut@gmail.com and at 347-528-8753.
