TruTrace Technologies Joins Forces with Customer Engagement Expert PharmaCentra to Provide a Blockchain-Secured Ecosystem for Medical Cannabis

TruTrace Technologies Joins Forces with Customer Engagement Expert PharmaCentra to Provide a Blockchain-Secured Ecosystem for Medical Cannabis

Companies will support quality-driven and traceability-focused clinical trials of cannabis-based therapies

March 01, 2021 09:00 AM Eastern Standard Time (for original article click here)

TORONTO–(BUSINESS WIRE)–TruTrace Technologies (CSE: TTT; OTCQB: TTTSF), developer of a fully-integrated blockchain platform for the legal cannabis, food, and pharmaceutical industries, today announced that it has signed a letter of intent (LOI) with Georgia-based PharmaCentra LLC – through its subsidiary CannabisBPO — to support a clinical trial ecosystem built on standardized protocols and testing of cannabis products for use in the medical industry.

“We recognized that our background and service suite were transferable and necessary skills for the maturing cannabis market”

“As cannabis gains acceptance as a useful component of therapies to treat serious medical conditions, it is critical to ensure that all products used for patient care are safe and consistent,” says Robert Galarza, CEO of TruTrace. “This partnership is an important step toward making that a reality because there will be repeatable, verifiable processes for measuring the efficacy of cannabis-derived compounds that the entire biopharma industry can use to improve the quality of the therapies that are available to people who need them.”

With decades of experience in the healthcare and pharmaceutical sector, PharmaCentra decided to enter the cannabis space several years ago and operationalized as CannabisBPO. “We recognized that our background and service suite were transferable and necessary skills for the maturing cannabis market,” says Dan Berman, CEO of PharmaCentra and CannabisBPO. “We have deep knowledge in both sectors to bridge the knowledge gap between the two industries. In the pharmaceutical industry, the efficacy of the supply chain is rarely questioned – it’s just assumed to be measured correctly. Unfortunately, the same is not true for the cannabis sector as a whole. That’s why, together with TruTrace, we are excited to be playing a key role in bringing these standards to the industry.”

About TruTrace Technologies

TruTrace Technologies is the developer of fully integrated software, secured on a blockchain infrastructure, that gives clients’ the ability to store, manage, share and immediately access quality assurance and testing details, COAs, as well as motion and movement intelligence on inventory. The platform was specifically designed to power the traceability of testing standards within the legal cannabis, nutraceutical, food and pharmaceutical space with a focus on the authentication of source materials or ingredients used in formulation. For more information, please visit www.trutrace.co.

About PharmaCentra/CannabisBPO

PharmaCentra and CannabisBPO are specialty contact providers with specific industry domain expertise in the pharmaceutical, healthcare and cannabis sectors. PharmaCentra specializes in pharmaceutical marketing and sales strategies, strategic patient, pharmacy, and physician outreach including clinical trial recruitment, pharmacy locator, tele-detailing and comprehensive healthcare management strategies. CannabisBPO is a specialty provider of contact center services for the cannabis industry specializing in sales, customer care, lead generation, patient/customer journey and win back initiatives. With locations in Canada, the US and work-from-home, the company offers outbound and inbound contact center services in a 24/7 multilingual setting. For more information, visit www.pharmacentra.com and www.cannabisbpo.com.

Contacts
Corey Herscu for TruTrace Technologies
corey@verbfactory.com
(416) 300-3030

Robert Galarza
robert@trutrace.co
(888) 775-4888

Kim Christmas for PharmaCentra/CannabisBPO
kchristmas@pharmacentra.com
(678) 671-2019

TruTrace Technologies and Applied DNA Sciences join forces to deliver complete cannabis product validation and authentication platform

TruTrace Technologies and Applied DNA Sciences join forces to deliver complete cannabis product validation and authentication platform

The companies intend to link together the power of proprietary SaaS platforms, blockchain, and molecular tagging technology to create a secure ecosystem that provides end-to-end traceability and full transparency.

TruTrace Technologies Inc (CSE:TTT) (OCTQB:TTTSF) and Applied DNA Sciences Inc (NASDAQ:APDN) (FRA:UDJP) are teaming up to deliver a complete cannabis product validation and authentication platform.

 

Both companies plan to approach the cannabis industry with their integrated solution comprised of Applied DNA’s CertainT platform and TruTrace’s StrainSecure platform, which will be underpinned by linking together the power of proprietary SaaS platforms, blockchain, and molecular tagging technology to create a secure ecosystem that provides end-to-end traceability and full transparency.

The companies have entered into a Strategic Alliance, Referral, and Technology Integration Agreement that allows each one to introduce the other into existing accounts, prospects, as well as cultivate new joint opportunities.

READ: TruTrace Technologies announces the appointment of Allan O’Dette as board chairman and of Pradeep Sood as a director

The agreement also calls for the integration of the companies’ respective platforms through APIs to exchange data elements as part of the complete chain of custody solution from source materials to product on the shelf. There is a mutual payment structure in place as engagements are brought online.

TruTrace’s blockchain-based SaaS software is designed to guarantee product quality and strain genetics throughout global supply chains. Protecting consumers and brands from contaminants and counterfeiting is a key benefit of the platform under development.

For example, Shoppers Drug Mart, Canada’s largest retail pharmacy chain, currently uses TruTrace’s platform as its underpinning technology infrastructure for traceability and accountability associated with its medical cannabis program.

Applied DNA’s CertainT platform provides the physical tagging of cannabis products using a unique molecular tag to represent the brand and product. That tag is then tested at key nodes within a domestic or international supply chain. All of this authentication and chain-of-custody data is captured in the CertainT portal — which under the agreement will be integrated with the TruTrace platform.

The molecular tag can be applied to cannabis plants, oils, lotions, tablets, edibles, and packaging to serve as an immutable indicator of authenticity, origin, and provenance.

“We believe there are clear benefits for collaboration by our two companies to deliver a complete, end-to-end solution to cannabis companies,” said Dr James Hayward, CEO of Applied DNA, in a statement Tuesday. “We believe our combined solution will protect our clients’ brands and IP while also assuring the consumers use authentic and safe products.”

TruTrace CEO Robert Galarza added: “Partnering with Applied DNA is a natural progressing of our go-to-market strategy to align ourselves with best of breed technology solutions to bring additional value to our customers and the industry as a whole. CertainT is the perfect technology complement to our platform — providing that extra level of true transparency and traceability the industry needs as we enter the next phase of legalized cannabis across the globe.”

Contact the author: patrick@proactiveinvestors.com

Follow him on Twitter @PatrickMGraham

To My Fellow Shareholders: As we embark into 2021…

Message from CEO and Director, Robert Galarza

To My Fellow Shareholders:

As we embark into 2021, I want to personally reach out and thank you for your continued support.

We entered into the previous year with some exciting accomplishments, including the completion of the first two phases of the medical cannabis verification pilot program (“Pilot Program”) with Medical Cannabis by Shoppers (“Shoppers”) and made considerable strides with great Licensed Producer partners like: Aphria (TSX: APHA), Aurora Cannabis (NYSE: ACB), Avicanna, Inc. (TSX: AVCN), Dosecann, The Flowr Corporation (TSXV: FLWR), Medipharm Labs (TSE: LABS), Organigram (TSX: OGI), Radient Technologies (TSXV: RTI), WeedMD Rx (TSXV: WMD) and Zenabis (TSX: ZENA). Prior to that, in 2019, we began working with Colombia based Clever Leaves (NASDAQ: CLVR) on using StrainSecure™, our blockchain-secured platform, to register and track their pharmaceutical-grade medical cannabis and hemp extracts for a broader global market.


We knew that the successful launch of the Pilot Program with Shoppers had provided us with a remarkable opportunity to tie the utilization of our technology as a central hub for asset tracking, validation, and product authentication, into a real-world study for patients.

Global pandemic or not, this was an opportunity we could not miss.

Shoppers and UHN: Medical Cannabis Real World Evidence

Early in 2020, University Health Network, led by Dr. Hance Clarke—Director of Pain Services, Toronto General Hospital—began working with Shoppers on a first of its kind study that would utilize blockchain secured products whose data would be rendered in real time into a digital portal for patients and practitioners. This would effectively connect real time chemistry and the genetic details of every product with the patients using them in the study. It became our sole focus as an organization to ensure the success of this project.

Our team began working fervently with the digital team at Loblaws and Shoppers to ensure that our platform could render all necessary data into their ecosystem while working with the exceptional team at Ample Organics to integrate our technologies and meet the needs of our mutual client.

At the same time, we also began working with several leading analytical laboratories, including: SGS Canada, Sigma Analytical, High North and Anandia Labs to expedite testing data from participating Licensed Producers. In addition, we began coordinating a standardized process for managing testing with a keen focus on Good Manufacturing Practices (GMP) as a core tenet for our future.

The culmination of these efforts was a successful launch of the Medical Cannabis Real-World Evidence (MC-RWE) clinical trial in early July, and a continued commitment to expand and refine this program going into 2021.

We are extremely proud of this accomplishment and believe it marks a big step in bridging the cannabis industry with the mainstream medical sector.

2020 Business Development

In addition to our work with Shoppers and UHN, and our expanding relationships with leading Licensed Producers and laboratories, we are also grateful for our ability to take advantage of the digital business processes unfolding worldwide. Through this technology, we were able to maintain and expand our relationship with partners like Deloitte Canada and Microsoft and continued to work with partners to refine our strategy for the emerging cannabis, food, nutraceutical and pharmaceutical industries. From hemp-derived CBD fitness water AKESO™ produced by NXT Water, to the emerging personal protective equipment (PPE) needs of Safe Company, and Hygen-X sanitization products manufactured and distributed by Riviera and West One Logistics, our commitment to transparency through innovative technology continues to serve as a hallmark of our organization.

OrionOne Global

Additionally, 2020 afforded us an opportunity to begin securing our long-term future by finalizing critical intellectual property rights, and implementing a strategy that would support a broader international business model.

In July, we secured a software-license agreement with OrionOne Global, Inc., (“OrionOne”) a technology provider with a cloud based multi-enterprise collaborative logistics platform that acts as a smart-hub for navigating shipments and logistics within the global supply chain. This license not only provides us with critical technology to support commercialization of our core products, but also creates new opportunities to work with clients focusing on imports and exports. An example of this was our collective participation in a pilot launched in August by Avicanna. This project focused on utilizing our joint technologies to support the traceability of Avicanna’s isolated CBG exports from Colombia to the United States, as well as commercial exports of isolated CBD from Columbia to the United States. We believe this initiative is a first of its kind example of how these mutual technologies can function in a broader international context, especially as the legal landscape of cannabis and hemp-derived products continues to grow.

The Road Ahead

Heading into 2021, we are continuing to make operational improvements that we consider to be in the best interest of our shareholders with a focus on increasing revenue and expanding our business. We are extremely optimistic about the changing sentiment we are seeing around our technology, as well as the cannabis industry overall.

A more refined approach to the commercial utilization of blockchain, combined with the glaring supply chain issues highlighted during the global pandemic have started to bear fruitful discussions about the expansive potential of this technology. We are very optimistic that companies and industries will continue to invest in this future. Furthermore, despite the early growing pains that the Canadian cannabis market faced, we are seeing a renewed commitment to rectifying early mistakes and bringing forth a future dedicated to meeting the needs of patients and customers.

To our shareholders, partners and allies within the cannabis community, and the entire Medical Cannabis by Shoppers team, we thank you for your unwavering support and for sharing our vision. Our promise to each of you is to remain committed to a successful future for us all.

We have a renewed optimism for the changes evolving in the Canadian market, as well as potential evolution we hope to see in the United States and beyond. We believe we are perfectly positioned to take advantage of these opportunities. We are starting 2021 with industry validation, critical product adoption and an ecosystem of partners and affiliates looking to mature our industry together.

Additionally, we are extremely excited to be joined by remarkable leaders of industry at the Company’s Board level. Early in 2020, we had the fortunate opportunity to be joined by Cesare Fazari, a seasoned entrepreneurial strategist with a career of completing turnkey projects for Shoppers Drug Mart, Marshalls, Trade Secret and Public Mobil. Most recently, we’ve had the privilege of welcoming two key new board members to help guide the Company into the future. Mr. Allan O’Dette, current CEO of the Ontario Medical Association has joined as our new Chairman of the Board, and successful entrepreneur, business leader and community activist Mr. Pradeep Sood is serving as an independent director. It has been one of the great honours of my career to begin working with these three esteemed leaders of industry. Their personal integrity and professional ethics serve as a compass and guide for our future.

In summary, TruTrace is well-positioned for the year ahead. Our newly refined leadership, market validation and renewed strategy, provides us with the catalyst required to capitalize on the opportunities we expect to see in the near future. The TruTrace name has begun to garner industry recognition amongst manufacturers, distributors, regulators and consumers, and we are thrilled about our prospects.

Finally, it cannot be stated enough that this year could not have been achieved without the remarkable professionalism and personal dedication of our team. The countless hours of sacrifice and effort combined with the grit and determination of each one of you allowed us to fulfill some remarkable accomplishments through an unconventional year. I cannot thank you enough for your commitment to our company and our future.

I look forward to continuing to serve you all and keep you abreast of our progress throughout the year.

Best regards,

Robert Galarza

Chief Executive Officer and Director

TruTrace Technologies, Inc.

Proactive: TruTrace Technologies working with Riviera & West One Logistics to launch sanitizer products

TruTrace Technologies (CSE:TTT) (OTCQB:TTTSF) CEO Robert Galarza tells Proactive the developer of a fully-integrated blockchain platform for the legal cannabis, food and pharmaceutical industries has said it is teaming up with Riviera & West One Logistics to ensure the highest quality for its line of products including Hygen-X hand and surface sanitizer products. Galarza says TruTrace’s launch with the company will mark the first implementation of its proprietary TruTrace Enterprise SaaS platform in sectors outside of the medical cannabis sector.

New Cannabis Ventures: Organigram Partners with Shoppers in Medical Cannabis Pilot Program

Organigram Joins Medical Cannabis by Shoppers Inc. and TruTrace in Effort to Track Source and Genetics of Cannabis Used by Medical Patients.

Project aims to match therapeutic outcomes to specific cannabis profiles and ensure consistent product for patients and healthcare practitioners…

Using Trutrace’s StrainSecure™ system, the program collects plant testing data and performs genomic verification in plant batches which are then registered in a blockchain-enabled database for intellectual property protection and strain validation. All information gathered from the plants, including their molecular and chemical makeup, can be tracked via the technology…

In the absence of assigned drug identification numbers (DIN) for cannabis products, quantifying the genetics and metabolomics, as well as potency and equivalencies of cannabis products is of interest to producers, distributors, shippers, government agencies, payers, clinicians and patients.

“Maintaining an effective traceability ecosystem about these details throughout the supply chain is a component of providing consistent medicine,” says Engel.

Using TruTrace technology, Shoppers has partnered with University Health Network in Toronto (UHN) to launch ‘Medical Cannabis Real World Evidence’ (MCRWE), a new ground-breaking study on cannabis and health which will track outcomes with TruTrace validated product for the first time in history.

This novel observational study is targeting a minimum of 2,000 patients who will be followed over a 24-week period.  Enrolled patients will have access to certain fully verified products on the Medical Cannabis by Shoppers platform, which have been tested for detailed cannabinoid and terpene profiles.  More information about the study can be found here.

Business Insider: Canada’s largest drugstore chain is partnering with a tech company to create an online database to track cannabis quality

“There is a stigma around recommending cannabis to patients in Canada. While medical cannabis has been legal in Canada for 19 years, doctors still feel uncertain authorizing its use to patients. 

Shoppers Drug Mart, Canada’s largest drugstore chain, is partnering with product quality and verification testing company TruTrace to create an online database to track cannabis quality.

The goal is to collect data on cannabis products from seed to sale, including a detailed chemistry and genetics of the plant and its metabolomic signatures, to understand what types help which patients.

“There was this idea that it was going to fix everything from Parkinson’s to Alzheimer’s to osteoarthritis to multiple sclerosis, but where’s the evidence?” said Dr. Hance Clark, who’s been working with Shoppers for the past four years. “The answer is, there isn’t much. It’s all anecdotal. So then the question is, how could we do this better, how could we change the system?”…

Shoppers Drug Mart, Canada’s largest drugstore chain, is attempting to mitigate confusing guidelines and information around cannabis use with a new partnership with the California based TruTrace, which does product quality and verification testing. The two are creating a new online portal, called Medical Cannabis By Shoppers Drug Mart, accessible to both patients and doctors that will track exactly what strains of flower, how many milligrams of THC, and what kinds of chemicals are in the products…”

Blockchain and pharmacies: How technology can make selling medical cannabis safer

By Robert Galarza

Many patients swear by medical cannabis as an effective treatment for a wide swathe of ailments and symptoms, including chronic pain, opioid dependency, nausea, sleep disturbances, and anxiety.

As a result of the regulatory changes that occurred when cannabis was federally legalized in October 2018, patients can now purchase their cannabis online from one of their most trusted sources: the pharmacy, rendering the therapeutic drug more accessible than ever before. Ordering medical cannabis from a familiar source may be less intimidating — and more convenient — to some patients than a visit to their local recreational weed dispensary, and purchasing medication online from a reputable pharmacy can help reinforce patients’ peace of mind (and provide more treatment options) in a way that ordering directly from a single licensed producer simply can’t match.

However, a common issue that often arises with medical cannabis is that pharmacists responsible for prescribing medicine for patients are accustomed to dispensing medications with a standardized level of active ingredients, and thus are reluctant to contend with the variability that can occur when dispensing plant-based treatments such as the cannabis flower.

The potential for inconsistency, paired with the lack of a comprehensive, central source of information that details the particular qualities of a specific product or cultivar, can make dispensing cannabis a daunting task. In light of medical cannabis dispensation by pharmacies being in its nascent stages, pharmacists, patients, and caregivers alike may not feel fully confident in selecting from the plethora of cannabis products available to them — never mind the correct dose, frequency, and ideal method of consumption.

Enter blockchain.

Whether dried flower, extracts, topicals, or edibles, blockchain tech allows patients and healthcare professionals to access vital information about cannabis products such as the level of major cannabinoids such as THC (aka tetrahydrocannabinol, the intoxicating compound in the cannabis plant) and CBD (aka cannabidiol, a psychoactive, but non-intoxicating compound found in cannabis), as well as minor cannabinoids and terpenes (organic aromatic compounds secreted in the plant’s glands, which are speculated to affect the properties of cannabis due to the entourage effect).

Managing critical quality data on cannabis products, such as detailed analytical test details, as well as genetics, metabolomics, and other critical manufacturing information documents, is essential to standardizing quality. Furthermore, by collecting and storing this information on a blockchain database, it can create the foundation for a more accurate, scientifically-backed method of tracking cannabis-based treatments that more closely resembles one expected of any other pharmaceuticals.

But the benefits of blockchain tech aren’t limited to measuring and tracking levels of THC and CBD.

Blockchain can also help advisors and healthcare professionals assess consistency from batch to batch and inform patients of any potential variations in their meds, which is crucial information when determining the correct dose and product in a sea of cultivars and consumption options.

Blockchain can also help pharmacists who are unfamiliar with cannabis guide patients towards the cultivars (known colloquially as “strains”) that are most suited for the patient’s specific needs, including both the specific interactions of the drug and the drug’s contraindications (the impact on the patient’s other medications).

Pharmacies are uniquely positioned in that they can dispense cannabis to patients via online channels while simultaneously being acquainted with their medical histories and any other medications they may be prescribed or purchasing over-the-counter. Armed with that patient familiarity and a tried-and-tested source of information, sourcing medical cannabis from pharmacies can help ensure a safe experience with limited side effects and without contraindications — while maximizing the efficacy of the treatment.

The immutability and rapid access to data provided by blockchain can be an indispensable tool. Blockchain helps patients successfully treat their symptoms with the added peace of mind that comes with obtaining their medication, be it pill or plant, under the banner of a trusted pharmacy. Implementing this technology in a pharmacy setting can empower patients to be confident about the safety, consistency, and reliability of the medical cannabis product, and it can enable pharmacies to remain on the cutting edge of patient care while dispensing safe and effective treatment options tailored to each individual.

Robert Galarza is Chief Executive Officer of TruTrace Technologies, developer of the first integrated blockchain platform that registers and tracks intellectual property from Genome to Sale for the cannabis industry.

Technical420: MediPharm Labs Selected for First Real-World Evidence, Patient-Centred Clinical Trial Using Blockchain Technology

MediPharm Labs Corp. (TSX: LABS) (OTCQX: MEDIF) (FSE:MLZ) a global leader in specialized, research-driven pharmaceutical-quality cannabis extraction, distillation and derivative products, today announced its participation in a ground-breaking collaboration between University Health Network and Medical Cannabis by Shoppers Inc. that will use blockchain technology to track medical cannabis products from seed to sale….

The collaboration will use a blockchain-secured software platform – designed by TruTrace Technologies Inc. (CSE: TTT)(OTCQB: TTTSF) (CSE: TTT)(OTCQB: TTTSF) and integrated with the Medical Cannabis by Shoppers portal – to manage, track and trace medical cannabis strains in 7 distinct products manufactured by MediPharm Labs, or about 20% of the study formulary, in various formats including oils and extracts throughout each step of the supply chain.

Robert Galarza, CEO, TruTrace Technologies commented, “The evolution of the medical cannabis industry over the past several years has been nothing short of remarkable and the commitment by MediPharm Labs to implement the highest level of product quality through certified GMP standards and protocols, as well as a desire to advance innovation, collaboration and technology alongside companies like ours will only further drive our industry forward. We are excited to explore how the power of dynamic and transparent data can support their initiatives in Canada and beyond.”

“This important study, conducted by one of the largest  health research organizations in Canada, will have wide-reaching benefits for cannabis patients and MediPharm Labs as we remain dedicated to producing pharmaceutical-quality products that are rigorously tested and verified on a lot-by-lot basis using GMP certified standards,” said Pat McCutcheon, Chief Executive Officer, MediPharm Labs. “Our view is that this study has the potential to enhance confidence in medical cannabis by giving physicians and patients true transparency into product chemistry, composition and effectiveness so that they can prescribe validated products and adjust their treatment regimens based on real-world evidence. We are proud to be a contributing partner with leaders in the fields of science, technology, medical dispensary and cannabis who have come together to make this study possible.”…

Shoppers Drug Mart and TruTrace add data insights to help doctors

TruTrace Technologies (CSE: TTT-OTCQB: TTTSF) CEO Robert Galarza joined Steve Darling from Proactive Vancouver with news the their partner company Shoppers Drug mart is now looking to increase available data from its online medical cannabis marketplace to try and allow doctors to access more data.

Galarza discusses that data and how that is a way to allow doctors more data so they can feel more comfortable prescribing the drug to their patients.

Shoppers Drug Mart to grow medical pot sales with data

Shoppers Drug Mart is adding more robust data to its online medical cannabis marketplace to help doctors get comfortable prescribing the drug.

The Loblaw-owned (L.TO) pharmacy chain launched its Medical Cannabis by Shoppers Drug Mart digital portal nationwide last December. Unlike recreational pot, medical cannabis is exclusively sold online. Shoppers Drug Mart offers products from a dozen licenced producers through its pot website.

Ken Weisbrod, the company’s vice president of business development, and a pharmacist by trade, sees better data as key to gaining the trust of doctors wary of prescribing cannabis, due to the unknowns compared to conventional pharmaceuticals with Drug Identification Numbers. 

“Cannabis is a combination of many different molecules in the plant, so doctors have to get their head around that,” he told Yahoo Finance Canada on Wednesday. “What we want to do for them is provide them with a much more robust look at the products that we offer.”

Shoppers is launching a new online portal for doctors on Thursday as part of a study led by the University Health Network aimed at matching patients with the right cannabis products. It will include detailed cannabinoid and terpene information designed to help medical professionals better understand the properties of pot strains.

Weisbrod said the process can be more complicated than simply determining the right product. Since licenced producers often source cannabis through third-party wholesale agreements, there can be variations from batch to batch. That’s a problem for doctors who demand consistency.

“There have been some patients who start therapy on cannabis, and it’s doing wonders for them. Then it doesn’t work in a couple of months. Part of that reason is, it might not necessarily be the same product that they were originally on,” he said. “That really isn’t the way of medicine.”

Last June, Shoppers announced a partnership with blockchain company TruTrace Technologies (TTT.CN) to oversee product consistency, quality and genetics throughout the supply chain from genome-to-patient with the goal of bringing medical cannabis closer in line with standards for other drugs.

“In Canada, we have roughly 85,000 physicians. Really a small cohort, less than 10 per cent, have really embraced cannabis,” Weisbrod said. “Having a change in the way physicians prescribe takes years. It doesn’t happen overnight.”

Toronto-based Auxly Cannabis Group (XLY.V) sells to medical users through the Shoppers portal. Chief executive officer Hugo Alves said the additional data showcases his company’s testing and quality assurance measures for the doctors writing prescriptions.

“Now that science, innovation, and importantly research are becoming a more prevalent part of cannabis as a medicine, a trend that you will see is an absolute demand for increasing rigour in consistency and accuracy,” he said in an interview. “It’s raising the bar on standards throughout the entire industry.”

Weisbrod said Shoppers Drug Mart remains focused on the medical side of the cannabis business, and does not intend to pursue recreational sales. He declined to comment on the size of the company’s share of the Canadian medical market. 

As for next steps, Weisbrod hopes regulatory changes will soon allow medical cannabis to be offered in the company’s physical pharmacies.

“In 2022, they’ll look into the medical regime, and maybe they’ll open it up and put it in pharmacies,” he said. “Our hope is for patients to walk in and get cannabis like their other medications.”

Jeff Lagerquist is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jefflagerquist.