Marijuana Business Magazine October 2018

harvest from seed stock, according to Beckwith, who noted the maximum capability was 35%. “We’ve accelerated our Florida pro- gram because we’ve already identi- fied premium genetics of the strain,” Beckwith said. “It can take one to two years to get a good genetics and mother room. Our master grower in Florida is one of the world’s foremost cannabis genetics people.” An onsite lab, meanwhile, conducts quality-control testing and oversees plant-breeding programs targeting specific medical conditions. “All phenotypes are not the same,” Beckwith said. “It’s like genetic engineering to maintain the exact integrity of the strain.” Licensing the Brand AltMed produces and dispenses medical cannabis mainly in the form of pharmaceutical-grade smokeless products such as topicals, vape prod- ucts, patches, inhalers, shatter and crumble, oral sprays and tinctures. Its transdermal patches last up to 12 hours, and the company is introduc- ing a 72-hour patch. AltMed, which is one of more than a dozen MMJ companies licensed to operate up to 25 Florida dispensaries each, currently has stores in Apollo Beach and Sarasota and is planning to open a third in Tampa. While AltMed is vertically integrated in Florida and Arizona, the company is expanding its presence in other states through licensing agreements to avoid steep construction costs that would come with building new facili- ties from scratch. “Those two states make up 20% of the medical cannabis industry,” Beckwith said. “Because cannabis can’t be moved across state lines, it requires tens of millions of dollars to set up operations.” AltMed is in various stages of licensing its products under its Müv brand in 12 states. It’s also looking for opportunities to expand into Canada and Europe. To diversify its product offerings, AltMed recently formed a partnership with Boulder, Colorado-based Wana Brands, a producer of marijuana-infused edibles. The aim of the partnership: bring Wana’s MMJ products to AltMed’s Florida dispensaries. Wana products that will be available exclusively at AltMed Florida’s Müv dispensaries include a slow-release capsule and a low-dose THC lozenge. ◆ Staff at Müv in Sarasota, Florida, celebrates the medical marijuana dispensary's grand opening. Photo by Rich Schineller Executives at AltMed thought developing a mother room could take up to two years, but the company's master grower was able to identify good genetics even sooner. Photo courtesy of AltMed 102 • Marijuana Business Magazine • October 2018