Colorado's Medical Marijuana Industry Threatened by Potential Regulatory Move

DORA_Banner2Colorado’s medical marijuana industry remains buoyant, continuing to grow despite the legal or “recreational” industry dramatically exceeding it in size.

Cannabis Sales Stats for Colorado

Source:  The Cannabist

At 3PM on Tuesday, September 22nd, the Colorado Department of Regulatory Agencies will hold a public meeting to discuss proposed rules that could threaten Colorado’s medical cannabis industry.

The current application for medical marijuana patients includes a simple one-page form for doctors:

Current Colorado Medical Marijuana Physician Certification

The instructions to the doctor:

To complete a physician certification, physicians must:

1. Have an active MD or DO license in good standing with the Colorado Department of Regulatory Agencies.

2. Have a bona fide physician-patient relationship with the patient.

3. Conduct a physical exam and review patient history to certify the patient has a qualifying debilitating medical condition. A new physical exam is required each year as part of the patient’s renewal process.

4. Submit a copy of his/her current DEA certification to the Registry. If a copy of the DEA is not already on file it may be sent by fax to 303-758-5182.

5. Keep a copy of the physician certification in the patient’s medical record. To avoid fraud, the Registry may request verification of physician signatures.

6. Provide copies of the physician certification as part of the application process. The physician certification does not constitute a prescription for marijuana. Physician certifications cannot be printed on security paper that reads “VOID” when copied.

The specific new proposals, which require mandatory access to the Prescription Drug Monitoring Program that many doctors may not have as well as obligating them to fill out 14 different documents, could make it more difficult for patients with medical needs to obtain authorization and, thus, be subjected to not only much higher taxation but also limited access to higher dosages required for many conditions.

Colorado Medical Marijuana Proposal

The state will host a live webcast:

Register here

Download the draft of the proposed new policy:  Colorado Medical Marijuana Stakeholder Meeting Notice, Agenda, Draft Policy

Exclusive article by Alan Brochstein, CFA
Alan Brochstein, CFA
Based in Houston, Alan leverages his experience as founder of online community 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

Get Our Sunday Newsletter