Category: Medical Marijuana
| Posted on Sat, May, 11th 2013 by THCFinder
It plans to dominate the legalized marijuana industry and become a star of Wall Street in the process: Medbox says it is set to be a core part of the infrastructure of a drug business that, judging by current trends, will get a lot bigger in the coming decade.
Eighteen U.S. states have already passed some form of medical marijuana laws, and last year recreational marijuana was cleared for legalization by voters in Washington and Colorado. In a feature piece on Medbox this week, Bloomberg Businessweek said $1.7 billion of legal marijuana could be sold this year, reaching $5 billion by 2018.
Plenty of small companies are scrambling to get in on the action, spotting an informal and largely illegal industry that looks set to grow into something much more consolidated and professional. We took a look at a few of them after the legalization votes last year.
Some aim to produce pharmaceutical-grade drugs, others want to run chains of retail stores, but Medbox sees itself as something of an infrastructure company, Businessweek reported:
Medbox’s core product resembles a Redbox DVD dispenser, only it’s black, refrigerated, and armored. Bedrick avoids the term vending machine because you can’t just saunter up to a Medbox, put in a few bills, and walk away with a stash of weed. The devices sit behind sales counters at state-licensed marijuana dispensaries. Biometric technology identifies the fingerprints of patients carrying state-issued medical marijuana cards. Clerks hand over plastic vials of cannabis leaf or, depending on the machine, cannabis-infused brownies, lozenges, or other “medibles.” A database tracks everything so that patients can’t buy more than their legal allotment, clerks can’t pilfer the merch, and states can collect taxes.
The company’s technology, including patents connected to automated dispensing of drugs by machines connected to databases of prescription holders, has application well beyond the medical marijuana industry. Its founder, Bruce Bedrick, told Corporate Intelligence it is “the safest, most secure and legally compliant way to store and dispense” drugs of the herbal or pharmaceutical variety.