The Case for Patient Home Growing: An Industry Insider's View

As an executive in one of Australia's leading medical cannabis companies, I'm writing this anonymously to share my perspective on why our industry should support patients' right to grow their own cannabis. While this stance might seem counterintuitive, I believe it's crucial for the long-term health of our industry and our commitment to patient care.

The Current Situation:

Our industry has made significant strides, but we must acknowledge a hard truth: many patients are struggling with the cost of their medication. On average, patients are spending around $100 per week on medical cannabis. This is unsustainable and, frankly, at odds with our mission to improve patients' lives.

The Canadian Model:

Canada has implemented a system where patients, with a doctor's prescription, can apply to grow a specified number of plants at home. This system has not demolished their cannabis industry. Instead, it's created a much more diverse and robust market.

Why We Should Support Home Growing:

1. Market Expansion: By making cannabis more accessible, we could bring more patients into the legal market who currently can't afford our products.
2. Innovation Driver: Home growers often become some of the most knowledgeable and passionate consumers, driving demand for new and specialized products.
3. Reputation Enhancement: Supporting patient rights would significantly boost our industry's image, showing we prioritize patient welfare over short-term profits.
4. New Revenue Streams: We could pivot to providing high-quality seeds, growing equipment, and educational resources for home growers.
5. Data Collection: Patient experiences with home-grown cannabis could provide invaluable data for our R&D efforts.

Addressing Shareholder Concerns:

To my fellow executives and our shareholders: I understand the knee-jerk reaction might be to oppose home growing. However, I argue that supporting this initiative is in line with our fiduciary duty:

1. Long-term Growth: A more accessible market is a larger market. We're playing the long game here.
2. Risk Mitigation: By proactively supporting reform, we position ourselves favorably for inevitable regulatory changes.
3. Diversification: This push would encourage us to diversify our product lines, reducing reliance on a single revenue stream.
4. Corporate Social Responsibility: This stance would significantly enhance our ESG (Environmental, Social, and Governance) profile, which is increasingly important to investors.

The Path Forward:

I propose we take the lead in advocating for a regulated system of home growing, similar to Canada's. We should:

1. Engage with patient advocacy groups to understand their needs.
2. Work with regulators to develop a safe and controllable system.
3. Invest in developing high-quality seeds and growing resources for patients.
4. Educate our shareholders on the long-term benefits of this approach.

Conclusion:

Supporting patients' right to grow their own cannabis is not just ethically right; it's a smart business move. It would force us to innovate, improve our products, and focus on adding real value to patients' lives. In doing so, we'll build a more sustainable, profitable, and respected industry.

To my industry colleagues: it's time we take this bold step. Our future success depends not on clinging to the status quo, but on our ability to adapt and truly put patients first. Let's lead this change and shape the future of cannabis in Australia.