LSU has pushed back the deadline to submit offers to operate its planned medical marijuana business to March 31. The original deadline was March 21.
LSU and Southern University were granted the only Louisiana licenses for medical marijuana production by the state. Under state law, the medication will be limited to patients with certain conditions, such as HIV/AIDS, cancer, seizures, epilepsy, Crohn’s disease and multiple sclerosis.
The LSU AgCenter has estimated it will cost $11.3 million to establish and operate a greenhouse, lab and production facility for five years. All of the money will be provided by the bidder, and the AgCenter estimates it will take five years for the business to turn a profit.
The Southern University Agricultural Center has estimated its proposed facility will require an initial investment of $5 million to $7 million. The university said the facility could be up and running by the end of the year.
Read more at The Advocate
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