PROFITABILITY IN THE CANNABIS INDUSTRY

PROFITABILITY IN THE CANNABIS INDUSTRY

Despite all the challenges, regulations and roadblocks the cannabis industry faces, the vast majority of marijuana companies are actually doing well financially. Nearly 90% of operating dispensaries and recreational marijuana stores, infused products companies and...
HERE WE GO: WEED NEWS FOR THE WEEK

HERE WE GO: WEED NEWS FOR THE WEEK

In Colorado, a segment of the industry has proposed sweeping changes to state marijuana laws. The draft proposal, obtained by the Durango Herald, does not have support from the entire industry but suggests a “wish list” of how some businesses would like to be...
MARIJUANA, CAN THIS BE CALIFORNIA’S NEXT BIG AG-CROP?

MARIJUANA, CAN THIS BE CALIFORNIA’S NEXT BIG AG-CROP?

California farmers are known for producing some of the finest fruits, vegetables and nuts in the world. But what if the state’s big agriculture also included marijuana? Some Central Valley growers are already eyeing that possibility, including a Central county farmer...

GMP refers to the Good Manufacturing Practice Regulations promulgated by the US Food and Drug Administration under the authority of the Federal Food, Drug, and Cosmetic Act (See Chapter IV for food, and Chapter V, Subchapters A, B, C, D, and E for drugs and devices.) These regulations, which have the force of law, require that manufacturers, processors, and packagers of drugs, medical devices, some food, and blood take proactive steps to ensure that their products are safe, pure, and effective. GMP regulations require a quality approach to manufacturing, enabling companies to minimize or eliminate instances of contamination, mixups, and errors. This in turn, protects the consumer from purchasing a product which is not effective or even dangerous. Failure of firms to comply with GMP regulations can result in very serious consequences including recall, seizure, fines, and jail time.

GMP regulations address issues including record keeping, personnel qualifications, sanitation, cleanliness, equipment verification, process validation, and complaint handling. Most GMP requirements are very general and open-ended, allowing each manufacturer to decide individually how to best implement the necessary controls. This provides much flexibility, but also requires that the manufacturer interpret the requirements in a manner which makes sense for each individual business.

GMP is also sometimes referred to as “cGMP”. The “c” stands for “current,” reminding manufacturers that they must employ technologies and systems which are up-to-date in order to comply with the regulation.