Canadian Medical Cannabis Patient Growth Slows while Demand for Oils Surges

Health Canada released monthly data yesterday on its medical cannabis program, Access to Cannabis for Medical Purposes Regulations (ACMPR), which was implemented as MMPR in April 2014.  The number of patients as of September 30, 2017 increased to 235,621 from 201,398 at the end of June and 98,460 as of September 2016, representing quarterly growth of  17% and annual growth of 139%:

While the growth was strong, it was the slowest annual growth since the program launched, reflecting the maturation of the program and perhaps some hesitancy of potential patients to register with legalization approaching:

Health Canada began releasing data by province beginning in the quarter ending June 30th. Ontario, which showed 12% growth from the prior quarter, had 96,390 patients, while Alberta, which grew 23% from the prior quarter, had 91,150. These two provinces represent almost 80% of the entire patient base as of September 30th:

The data continued to show strong demand for oils relative to dried flower. During the quarter, the LPs shipped 5.905mm grams compared to 5.895mm grams in the prior quarter, representing growth of just 0.2% and 23.7% from a year ago. Oil sales, expressed in weight, were 7.669mm grams, up 23.8% from the prior quarter and 216.9% from a year ago.

Exclusive article by Alan Brochstein, CFA
Alan Brochstein, CFA
Based in Houston, Alan leverages his experience as founder of online communities 420 Investor, the first and still largest due diligence platform focused on the publicly-traded stocks in the cannabis industry. With his extensive network in the cannabis community, Alan continues to find new ways to connect the industry and facilitate its sustainable growth. At New Cannabis Ventures, he is responsible for content development and strategic alliances. Before shifting his focus to the cannabis industry in early 2013, Alan, who began his career on Wall Street in 1986, worked as an independent research analyst following over two decades in research and portfolio management. A prolific writer, with over 650 articles published since 2007 at Seeking Alpha, where he has 70,000 followers, Alan is a frequent speaker at industry conferences and a frequent source to the media, including the NY Times, the Wall Street Journal, Fox Business, and Bloomberg TV. Contact Alan: Twitter | Facebook | LinkedIn | Email

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