US (IA): MedPharm rebrands and expands medical cannabis production

Five years after the Iowa Legislature approved the sale of medical cannabis products in Iowa, the number of registered cardholders, visits to dispensaries and sales have climbed — but at a much slower rate than in other surrounding Midwest states.

Monthly sales have yet to reach $1 million. Just 0.3% of Iowans are registered cannabis cardholders. But new cards issued spiked to record highs in both March and April, at 1,213 and 1,221, respectively, according to Iowa’s Office of Medical Cannabidiol. Dispensary visits in April reached 6,371, the highest ever. And MedPharm, Iowa’s only manufacturer of cannabis products and owner of dispensaries in Windsor Heights and Sioux City, is preparing for what it sees as growth ahead. 

“We still have a massive amount of people who don’t know the program, or who remember what the old program used to be and decided it’s not good enough,” said Lucas Nelson, president of MedPharm, which will be rebranded as Bud & Mary’s.

With providers making cards easier to obtain, lower prices, more product availability and a cap lifted on the amount of THC in products sold in the state, MedPharm anticipates that will change. Last week, the Iowa-based company announced that it was expanding its existing production facility on Des Moines’ east side, adding up to 20 employees and rebranding.

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