Interview with Jordan Lams, Medical Cannabis Pharmacy License Owner
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With six medical cannabis pharmacies slated to open in the next three months, and dozens of doctors now certified– medical cannabis has officially arrived in Utah.
While this is almost certain to be a massive emerging market in Utah, it’s become clear that most Utah farmers and entrepreneurs are simply not qualified to compete in medical cannabis.
Instead, outside companies with pre established production systems will be the ones cashing in on the legality of medical cannabis in Utah. It became clear in speaking to Utah State Department of Agriculture Medical Cannabis Operations Director Drew Rigby that to be selected to be a grower or gain a medical cannabis pharmacy permit requires a lot more than desire and money.
Few entrepreneurs have a thorough understanding of the operational controls and the acumen to navigate the legal, financial and logistical challenges to maintain successful grow operations or pharmacy businesses.
Jordan Lams is a man who has jumped through the hoops and leaped over the hurdles many times before, and he was able to win one of the coveted medical cannabis pharmacy licenses. Lams medical cannabis pharmacy will be located in Vernal, Utah. It’s called PURE Utah.
Lams was designated by High Times Magazine as one of 100 the most influential people in cannabis. He started in cannabis production ten years ago, and was able to build up his own grow operation in until he realized the potential of the emerging markets as more states gained legal status. Lambs’ company Moxi was recently acquired by Green Growth Brands for $310 million.
The high stakes, capital intensive world of medical cannabis requires a sophisticated understanding of the business operations: distribution, packaging, marketing as well as a savy in navigating each particular states’ laws in maintaining the strict compliance standards.
For this reason, Lams explains, very few locals are able to participate in the “Green Wave” that is certain to become a multi-billion-dollar industry nationwide. Lams believes that the limited access market is the best model because it ensures that patients are able to receive consistent pharmaceutical-grade products.
Moxie’s traditional model is to maintain a vertically integrated business with grow operations that supply their product production, where they produce concentrated salves, tinctures edibles and flowers; which are sold in their own dispensaries. Lams told Utah Stories they applied for a grow license in Utah but were not selected. Only eight grow licenses were issued in Utah out of the ten available.
Department of Agriculture Head of Medical Cannabis told Utah Stories that despite the dozens of applicants there were not enough qualified growers who applied for the permits, so they only issued eight out of ten of the licenses available.
Lams says he is very excited to do business in Utah. And he has discovered that Utah political leaders are very willing to listen to how they can shape policy to allow for the very best patient access. This seems to be a complete 180, in terms of how the Utah State Legislature’s original “compromise bill” Medical Cannabis laws was shaping up one year ago.
Check out Utah Stories previous podcasts on medical cannabis coming to Utah:
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