In June 2017, LSU selected the Las Vegas-based contractor GB Sciences Inc for its medical marijuana business. The company also has agreed to a $500,000 annual contribution for research. This contract will give LSU at least $3.4 million. The university’s AgCenter selected GB Sciences from seven potential vendors.
GB Sciences is a research-oriented company and seeks to conduct extensive research on marijuana use for disease treatment. CEO John Poss said that once patients and doctors can learn about the medically beneficial chemical compounds in cannabis, patient numbers will rise, along with revenue.
The framework for dispensing medical marijuana was passed by lawmakers in 2015
So far, only LSU and Southern University are allowed to grow the product. Southern University is expected to choose a vendor to run its program in late 2017.