PharmaCann CEO Brett Novey Discusses Expansion, How Cannabis 'Complements' Alcohol

During the bustling atmosphere of the Benzinga Cannabis Capital Conference, PharmaCann CEO Brett Novey discussed the spontaneous and insightful exchanges that often occur away from the formal agenda.

Novey highlighted that these impromptu conversations with fellow CEOs are the most beneficial aspects of the conference.

“It’s the hallway conversations where they just pop up, and you bump into other CEOs. Those are usually the most constructive conversations of the conference for me,” he stated.

Strategic Moves in Major States

PharmaCann, a leader in the U.S. cannabis industry, is gearing up for significant developments in 2024, particularly emphasizing its operations in New York and Ohio. “We’re really excited; we’ve just started the recreational side of our business in New York. And then now we’re also looking forward to Ohio. We expect that to transition in June. So 2024 is a big year for us,” Novey explained.

This expansion marks a climactic year as two of their eight markets transition from medical to recreational use, highlighting PharmaCann’s role in shaping wellness-focused cannabis solutions.

A Vision for Cannabis and Alcohol

Addressing the evolving social consumption of cannabis, Novey shared his vision for how cannabis products, particularly in beverage form, might coexist with alcohol. He sees potential for cannabis to complement rather than replace alcoholic beverages in social settings.

“I see cannabis complementing alcohol. For some people, it will replace alcohol, yes. But mostly in my mind, it’s they complement each other very well,” Novey remarked. He anticipates a future where social gatherings might intersperse alcoholic and THC-infused cocktails, enhancing consumer enjoyment without the drawbacks associated with alcohol alone.

Implications for the Cannabis Industry

As PharmaCann extends its reach and refines its offerings, the discussion with Novey at the conference sheds light on strategic industry shifts and consumer trends that could redefine how cannabis is perceived and consumed in public and private spheres.

With states like New York and Ohio on the cusp of significant policy transitions, companies like PharmaCann are at the forefront, ready to navigate the evolving market dynamics and consumer preferences that come with legalization and broader acceptance of cannabis.

---

Cannabis rescheduling seems to be right around the corner. Want to understand what this means for the future of the industry? Hear directly for top executives, investors, and policymakers at the 19th Benzinga Cannabis Capital Conference, coming to Chicago this Oct. 8-9. Get your tickets now before prices surge by following this link.
Image.