As GB Sciences Louisiana sheds its corporate parent to be fully owned by Lafayette-based Wellcana Group, GB Sciences Louisiana President John Davis says patients shouldn’t notice a change as that the transaction isn’t expected to disrupt medical marijuana production at its south Baton Rouge facility.
Davis, who will remain president of GB Sciences Louisiana, expects the transaction—slated to close by the end of next month—to go smoothly and benefit all parties involved.
“We believe this is a positive transaction,” Davis says. “LSU was fully informed about the entire process and they support this internal transaction. Their interest is protected.”
The ownership change comes roughly a month after GB Sciences Louisiana released its first batch of medicinal marijuana products to licensed pharmacies. Although definite numbers for Louisiana patients receiving medical marijuana are unavailable, Davis estimates roughly 5,000 Louisianians consulted with physicians about the program, with some 1,500 patients receiving the tinctures.
Meanwhile, the company is gearing up for the release of several new products by the end of the year, including strips similar to Listerine PocketPaks, a topical cream and CBD. The company has also informally previewed a sampler of an inhaler, Davis says, with Louisiana Board of Pharmacy staff.
GB Sciences Louisiana has an expansion plan that aims to ultimately grow the company’s staff from 20 to 200. The expansion, which includes breaking ground for a new facility as well as expanding the current one, will start early next year, says Davis, adding more information will be released as the company moves forward.
