After selling more than $1 billion worth of cannabis products last year, dispensaries in Illinois got off to a blazing start in 2021 by taking in more than $121 million in January. According to new data from the Illinois Department of Financial and Professional Regulation, adult-use cannabis dispensaries sold a record $88.8 million worth of cannabis during the first 31 days of the new year.
Jazz Pharmaceuticals PLC announced Wednesday plans to acquire U.K.-based GW Pharmaceuticals, which makes the cannabis-derived drug Epidiolex that is used to treat childhood-onset epilepsy. The cash-and-stock deal is valued at $7.2 billion and is expected to close in the second quarter of 2021.
Three top Senate Democrats plan to pursue “comprehensive cannabis reform legislation” during the 117th session of Congress. In a joint statement issued Monday, Senate Majority Leader Chuck Schumer (D-NY), and Sens. Ron Wyden (D-OR) and Cory Booker (D-NJ), said they would prioritize ending cannabis prohibition and work together to introduce new cannabis reform legislation in the coming weeks.
Are you looking to break into the cannabis industry? Wondering what you can expect to earn? Colorado-based recruiting agency Vangst has you covered. On Monday, Vangst released its newest “Salary Guide” detailing statistics about new cannabis industry job creation and compensation.
Sales of adult-use cannabis in Arizona began on Friday, less than three months after voters overwhelmingly approved legalization during the 2020 election. According to Arizona Department of Health Services (ADHS) records, 86 cannabis establishments were licensed as of January 22, 2021. Three of those businesses are listed as nonoperational, however.
Cresco Labs co-founder and former president Joe Caltabiano is launching a $100 million SPAC (special purpose acquisition corporation) aimed at acquiring cannabis companies in the U.S., Canada or international markets. The so-called blank check company, Choice Consolidation Corp., today filed a 137-page preliminary prospectus with Canadian Securities Administrators.
Cannabis sales in Colorado eclipsed a record $2 billion in 2020, state records show. According to the Department of Revenue’s Marijuana Enforcement Division (MED), adult-use cannabis shops throughout the Centennial State raked in nearly $1.6 billion year-to-date through November. Meanwhile, medical marijuana dispensaries sold more than $405 million worth of products during the 11-month period.
Chicago-based cannabis firm Cresco Labs has hired consumer packaged goods veteran Ty Gent as its new COO. Gent most recently served as the chief supply chain officer of US Foods, one of the largest foodservice distributors in the U.S.
Rhythm recently expanded its line of CBD-infused seltzers to include a third variety: Recover. Formulated with natural lemon and ginger flavors, 15 milligrams of broad-spectrum hemp extract, and turmeric root extract, Recover is fresh and inviting.
Andrew Kline, who served for two years as the director of public policy at the National Cannabis Industry Association (NCIA), has departed the Denver-based trade group for a role with multinational law firm Perkins Coie.