There are positives and negatives surrounding marijuana. The legalization of medical marijuana in Ohio was hailed as a great step, potentially providing much needed relief to people suffering from debilitating pain from a number of medical conditions, as discussed in last week's post. Unfortunately, few people associate cannabis products with pain relief, which is why it might come as a surprise to many that most patients who are purchasing the product are disabled.
Unable to work, they are living on a fixed and limited income and are unable to work to earn more. The cost of their medication-medical marijuana-- is rarely covered by medical insurance, and if the cost is too high, patients will be unable to afford it. Unfortunately, this is the situation that has arisen in Ohio.
According to experts and activists, the cost of medical marijuana is preventing the very people who need it the most from procuring it. Numbers from the state show that, on average, the price of an ounce of the product is $470 and a pound around $7,528. As a result, the black market for medical marijuana continues to flourish, because it costs much less to buy cannabis, between $100 to $300 an ounce.
Many claim this is disappointing, as the program was designed to help patients but isn't. Legal sellers have to factor in large scale cultivation costs, as well as money spent on complying with complicated regulations regarding packaging and marijuana testing. People have put in hundreds of thousands of dollars in setting up facilities and they have just gone into business, which is why costs may be high initially. Over time perhaps, the price may go down.
As supply begins to grow, experts are likely to watch the price of cannabis products. In the meantime, business should keep in mind that complying with regulations and ensuring one's quality is in line with the state's requirements are essential, as is ensuring one is doing business legally. One should not compromise the law to lower one's price. To make sure one is operating their business legally, it might be beneficial to consult an experienced attorney.