Cedar Rapids’s sole medical cannabis manufacturer has permanently closed its doors, leaving the state with one medical cannabidiol manufacturer.
Iowa Relief relinquished its license following weeks after having ceased operations at its plant, state officials confirmed to The Gazette Monday. The company, owned by New Jersey-based Acreage Holdings, produced medical cannabis capsules, topical ointments and tinctures for Iowa’s medical cannabidiol program for less than a year.
State officials still are determining when applications for a new medical cannabis manufacturer will open. They plan to release details in the near future, said Owen Parker, program manager at the Office of Medical Cannabidiol within the Department of Public Health.
Cedar Rapids City Council member Dale Todd, who has a son with a rare form of epilepsy, expressed his disappointment at Iowa Relief’s closure. However, he said it was “no surprise” given the way the state program was established.
“Draconian parameters that were set on the industry’s ability to market and sell medical cannabis resulted in the demise of this business,” Todd said. “The limited market prevented the industry from developing a sustainable business model, and everybody seemed to know that this would be the case. It’s like watching a ship sink slowly.
Read more at thegazette.com