Kentucky has officially granted its first medical cannabis business license as the state pushes ahead with its new medical cannabis programme.
Governor Andy Beshear announced during a press conference that KCA Labs, a safety compliance facility, has received the first license, emphasizing the need for the program’s rollout to adhere to the ‘highest medical standards’.
KCA Labs, which already specializes in testing hemp and other natural products, will now conduct cannabis safety and compliance testing for Kentucky’s fledgling medical cannabis industry, which Beshear said is ‘coming very soon’.
After signing it into law last year, over 5000 businesses are understood to have applied for business permits so far.
This has reportedly already netted the state $28 in application fees, around 4000 of which were for dispensary licences.
On October 28, a lottery will be held to decide which businesses receive the inaugural cultivator and processor permits, with a further lottery set to see the first dispensary permits issued in November.
While there are not limits set on the number of testing labs in the state, Kentucky plans to issue no more than 48 dispensary licenses, 10 processor licenses and 16 cultivation permits.
Medical cannabis patients suffering from qualifying conditions, including cancer, epilepsy, multiple sclerosis and PTSD, are expected to begin accessing treatment in the state in January 2025 after applying for a medical cannabis card.
It comes after Beshear signed a bill into law earlier this year moving the timeline for the rollout of its highly-anticipated medical cannabis program forward by six months.
The post Kentucky Grants First Medical Cannabis Business License as Industry Rollout Moves at Pace appeared first on Business of Cannabis.
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