Sarasota, Florida — Florida’s medical cannabis patients will soon be able to access the nation’s most consistent medical capsules and lozenges, thanks to a partnership between Wana Brands, an experienced producer of marijuana infused products, and the award-winning producer of pharmaceutical grade cannabis products, AltMed Florida.
The agreement will bring Wana Brands’ leading line of cannabis-derived medical products to Florida dispensaries, once they receive all required approvals from the Florida Department of Health’s Office of Medical Marijuana Use. The products will be available exclusively at AltMed Florida’s MüV Medical Cannabis Dispensaries.
The products include WanaCapsXR, the world’s first slow-release cannabis capsule, which Wana Brands introduced for medical cannabis patients in 2015. With five proprietary extended release formulations available, ranging from High THC to High CBD, WanaCapsXR provide medicinal benefits for 8-12 hours, allowing patient to reduce the frequency of re-dosing. The extended release formula lessens potential side effects such as disorientation and dizziness.
Wana Lozenges will also be available, containing 5mg THC each to enable effective and precise dosing.
This agreement solidifies Wana Brands continued expansion from its Colorado headquarters, where it is the No. 1 infused products cannabis brand, according to BDS Analytics’ May 2018 Brandshare Report. The company’s popular products are also available in Arizona, Oregon and Nevada dispensaries, with Illinois among the states imminently coming online. Wana Brands expects to expand into California, Maryland, Michigan, Ohio, Pennsylvania, Washington, and internationally in Canada through 2019.
“With our products such as WanaCapsXR, Wana Brands is perfectly positioned to provide reliable and consistent products to Florida’s medical marijuana patients,” said Nancy Whiteman, Founder & CEO of Wana Brands. “Wana Brands has developed a remarkable line-up of cannabis products that have been built on precision, quality, professionalism and innovation. We have invested in refining our recipes for patients, so that the taste of our products comes through, not the taste of medicine. We look forward to introducing our lozenges and extended-release capsules to the Florida market as well.”
“As a national brand and an award-winning customer favorite, Wana Brands is known for its consistent quality and rounds out the portfolio of products offered to our patients,” said John Tipton, CEO of AltMed Florida.
Florida’s medical cannabis market is expected to grow rapidly and exceed $1 billion by 2020. With a population of 21 million, 19 percent of whom are seniors, Florida is estimated to eventually have hundreds of thousands of medical marijuana patients. The burgeoning system currently has 138,558 registered patients and 1,572 registered physicians, with 400,000 patients forecast by 2020.
Since Florida voters approved medical marijuana in a referendum in November 2016, 14 medical cannabis production licenses have been awarded by the state, and dispensaries began opening across the state once regulations were finalized in November 2017. Each licensee can open 25 dispensaries.
Conditions authorized for medical cannabis use include cancer, ALS, Crohn’s Disease, epilepsy, glaucoma, HIV/AIDS, seizures, multiple sclerosis and Parkinson’s disease. Floridians are not allowed to grow their own medical marijuana or smoke cannabis flower so rely on companies like Wana and AltMed Florida to provide consistent, safe medicine.
Chewable medical marijuana products are not yet legal in Florida’s new medical cannabis market, but with this agreement, Wana Brands and AltMed will be positioned to distribute gummies as new product categories are approved by Florida’s Office of Medical Marijuana Use.