The company continues to evaluate nabiximols in two other late-stage studies targeting multiple sclerosis-related spasticity. Jazz experienced a setback in June 2022 with cannabis candidate nabiximols failing to meet the primary endpoint of a late-stage study. Epidiolex, which treats two forms of childhood epilepsy and tuberous sclerosis complex, a rare disease where benign tumors grow on organs, has been a big commercial success, with sales of $658.3 million in 2021. GW’s drug Epidiolex is the first cannabis-based medicine to be approved by the U.S. Ireland-based Jazz Pharmaceuticals acquired the cannabis-focused biotech company GW Pharmaceuticals in May 2021.
However, the company’s consumer lawn and garden products provide a relatively steady counterbalance to its cannabis supply unit. Higher commodity prices are currently squeezing margins for this business.
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Hawthorne should have a significant growth runway over the long term despite some near-term challenges.Īlthough Hawthorne Gardening has been a primary growth driver for Scotts, the company still generates the majority of its total revenue from consumer lawn and garden products. The company’s Hawthorne Gardening subsidiary ranks as a leading supplier of hydroponic gardening products to the cannabis industry. ScottsMiracle-Gro faces the same market dynamics as GrowGeneration. GrowGeneration should be in a position to significantly rebound when the market conditions improve. However, the company’s long-term prospects remain bright. This has caused short-term headwinds for GrowGeneration that are likely to continue throughout 2022 and possibly into 2023. It operates 62 stores in 14 states and plans to add another three or four stores by the end of 2022.ĭemand for the company’s hydroponics products has fallen due to an oversupply of cannabis in the U.S. GrowGeneration is another ancillary provider and the largest specialty retail chain focused on the cannabis market. Because Innovative Industrial Properties is organized as a real estate investment trust (REIT), IIP returns at least 90% of its taxable income to shareholders. The company continues to generate strong revenue and earnings growth even with a recent default by one of its top tenants. Innovative Industrial Properties has grown significantly in recent years and now owns properties in 19 states. The property sale to IIP provides the cannabis operator with much-needed cash, and the lease agreements create a steady revenue stream for IIP. medical cannabis operators and leases the properties back to them. Innovative Industrial Properties (IIP) helps to solve the cash shortage for growing marijuana companies. cannabis companies can’t easily secure capital from banks or financial institutions since marijuana remains illegal at the federal level. markets, including 12 states with annual cannabis sales of more than $1 billion. Once the deal closes, Cresco will operate in 18 U.S. The acquisition is moving forward, with overwhelming approval by Columbia Care shareholders and a thumbs-up from the Supreme Court of British Columbia. Cresco’s pending acquisition of Columbia Care ( OTC:CCHWF) will make it the largest multistate operator based on revenue. The company is growing rapidly through acquisitions and opening new retail locations. Cresco is the top wholesaler of branded cannabis products in the U.S. It operates retail cannabis stores in 10 states, including six of the 10 most heavily populated states in the U.S. Cresco LabsĬresco Labs, like Green Thumb, is based in Illinois.
Green Thumb should have plenty of growth potential over the long term as the U.S. It also continues to deliver revenue and earnings growth and maintains a strong balance sheet even with macroeconomic headwinds. The company has been profitable since 2020. Green Thumb holds licenses to roughly twice as many retail locations. and operates 17 manufacturing facilities. It owns 77 retail cannabis stores in 15 states across the U.S. Green Thumb Industries ranks as one of the largest U.S.
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