Ohio Opens Medical Cannabis Dispensary Application Process

Ohio, which will be awarding cultivation licenses in November, announced it will be accepting applications for dispensaries from November 3rd through the 17th. Ohio remains on track to fully implement its medical cannabis program by September 2018. The State Board of Ohio Pharmacy is overseeing the process and has posted information for applicants. The state intends to award licenses for 60 dispensaries across four regions:

The application has a nine-page application instruction form that includes a scoring table, with the scores based upon the business plan (26%), operations plan (52%) and patient care plan (22%).

The State Board of Pharmacy will provide an instructional webinar on October 3rd and is offering two Q&A periods, including the first from September 19th through October 5th and then the second from October 16th through October 20th. The agency provided a model application that is 40 pages.

According to the rules, there is an application fee of $5000 along with $500 for the associated key employee, $250 per key employee and $100 per support employee, and a certificate of operation will cost $70,000, with a biennial renewal fee of $70,000.

Exclusive article by Alan Brochstein, CFA

ab-byline-ncvBased 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.

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