Zelira Therapeutics has partnered with Washington, D.C.-based Alternative Solutions to bring cannabis medicine closer to autism patients by the second quarter of 2021. Based on its press release, Alternative Solutions is slated to produce and manufacture Zelira Therapeutics’ HOPE line of products.
The HOPE line of products is reportedly considered as Zelira’s top-selling medical cannabis treatments aimed at autism patients. The company already has two proprietary formulations that have successfully been providing it with a steady stream of revenue in the state of Pennsylvania.
Zelira Therapeutics is a leading cannabis company. With its position in the industry, it owns a portfolio of proprietary revenue-generating cannabis products in the market. At the same time, the company is also in the process of testing out a number of products and clinical developments that are slated to be introduced to the public this 2020.
Apart from the aforementioned, its press release details that the firm is geared towards providing and manufacturing cannabis products designed to treat different medical conditions. These include autism, chronic pain not related to cancer, and even insomnia.
Zenivol is the main cannabinoid-based treatment developed by Zelira to address chronic insomnia. It has since passed the second phase of its clinical trial.
On the other hand, Alternative Solutions is one of the eight cannabis companies that has gained licensing to operate in the District of Columbia. Under its licensing, the firm is reportedly allowed to cultivate, process, and distribute cannabis products within D.C. It is also allowed to distribute medical cannabis products to licensed dispensaries in the area. It has been in business since 2015.
When asked to make a statement about its operation in Washington, D.C., the press release points that Alternative Solutions’ position in the District makes it appealing, especially when it has reciprocity with 32 other states in the country that also have medical cannabis programs in place.
With Washington, D.C.’s position, patients who are prescribed with medical marijuana or cannabis medicines as treatment may gain access to medical cannabis products under any licensed dispensary in the District.
In a statement, chief executive officer and managing director for Zelira Therapeutics in the United States Dr. Oludare Odumosu said, “Alternative Solutions is a leader in the DC medical cannabis market, and we couldn’t have a better partner to launch HOPE in the nation’s capital. We are particularly excited about this partnership because Washington DC’s MMJ reciprocity will allow legal access of HOPE to more patients across the country than ever before.”
Dr. Odumusu also expressed his excitement “about this partnership because Washington DC is a gateway state with over 24 million visitors passing through the US capital in a year.”
The same sentiment was echoed by the chief executive officer of Alternative Solutions Matt Lawson-Baker who said that they are “thrilled to be partnering with Zelira to bring the HOPE product line to the Washington DC medical cannabis market.”
Lawson-Baker continued to say that “Access to this medicine in the nation’s capital will provide patients and their families treatment they deserve through a legally regulated medical cannabis program.”
Following the partnership between the two firms, Money Morning Australia reported that the stock price for Zelira Therapeutics rose last December 14, 2020, after it had finalized its distribution agreement with Alternative Solutions.
According to Money Morning Australia, the share price is up by 36.36 percent. This clocks in at around 3.6 cents to trade at 13.5 cents per share. This share price is the company’s highest trading price since May 2018.
Current Marijuana Laws in DC
As mentioned, marijuana use in Washington, D.C. is allowed. This means that cannabis is legal for individuals over the age of 21 under the state. Both recreational and medical marijuana is legal in the capital. While this may be the case, public possession and use of cannabis on federal land is largely prohibited. With 20 percent of the land filed under federal lands, extra caution must be taken to prevent violation of the law.
For recreational use, possession of up to two ounces of cannabis is allowed for people of legal age. This also applies to accessories or cannabis paraphernalia. Individuals may give up to an ounce of marijuana to other legal-aged people. Moreover, DC residents may also grow up to six marijuana plants for personal use and consumption in their homes without risking arrest.
However, what makes the situation quite different and complex from other states is that the sale of marijuana for recreational use is not allowed by the state and is, therefore, considered illegal. Only medical marijuana patients who are prescribed with a cannabis treatment and who have a licensed medical card may obtain their medications from one of the medical dispensaries in D.C. These patients may obtain up to two ounces of marijuana per month.
Because the sale of cannabis for recreational purposes is still illegal in Washington, D.C., some marijuana companies and delivery services have gotten creative with their selling techniques. Most tend to give cannabis away as a gift, provided that the buyer purchases another item to go with it. While this has been successful, this has also caused issues for some delivery services and cannabis businesses, which is why taking great care in purchasing from the right dispensary and company is of utmost importance.
With the current restrictions in place, what with the law and pandemic, the opening up shop of other manufacturers in the market for products such as HOPE will give more people safe access to marijuana medication. In time, this event can open up more conversation surrounding the legalization of marijuana sales in the District and for future access to be less restrictive.
The Bottom Line
The partnership of Zelira and Alternative Solutions in Washington, D.C. definitely opens doors for a market in need of access to medical cannabis within the capitol. Taking in mind the various considerations and laws in place, the partnership hopes to give patients and users alike, particularly autistic patients, the chance to gain legal medical cannabis in a more convenient and hassle-free manner.