Wellcana Group, the Baton Rouge-based medical cannabis grower licensed by the LSU AgCenter, expects to slash the price of its wholesale products for the second time this year.
The price reduction was recently approved by the LSU AgCenter.
Wellcana sells directly to nine state-licensed pharmacies, some of which have already been discounting the retail price of medical marijuana tinctures for several months in response to patient demand for more affordable medication.
"We think that this a big step," said John Davis, chief executive officer of Wellcana.
Health insurance typically does not cover medical marijuana because it doesn't qualify and is still considered an illegal drug by the federal government.
Read more at theadvocate.com
