Shoppers Drug Mart, UHN To Wield Blockchain Tech To Track Medical Cannabis

The University of Health Network (UHN) will be carrying out a study in association with Shoppers Drug Mart in order to analyze the efficiency of blockchain implementation in seed-to-sale tracking of Medical Cannabis products.

Trials will allow patients to select medical cannabis products from a blockchain-secured base that allows them to know the exact characteristics of each product. It also provides physicians the opportunity to get in deep information about the plant’s profile, THC and terpene levels.

“Shoppers is the largest pharmacy chain in Canada, and we have always been at the vanguard of helping people live healthy lives," Ken Weisbrod, VP of Toronto-based Shoppers told Benzinga. "This new initiative, which is part of a clinical trial led by one of the most prestigious hospitals in the country, is a critical step in making sure that patients are receiving the right therapies in the right dosages at the right times."

The service was developed by Shoppers and TruTrace Technologies TTT BKKSF. The licensed partners that will supply medical cannabis — dried flower, extracts, edibles, and topicals — are Zenabis Global, WeedMD Rx, The Valens Company, Radient Technologies, Organigram Holdings, MediPharm Labs, The Flowr Corporation, Dosecann Cannabis Solutions, CanniMed, Avicanna, Aurora and Aphria.

“The challenge with the medical use of cannabis is that physicians and patients are unsure of the quality of products being consumed,” says Dr. Hance Clarke, who heads up the UHN. “For the first time, we have a national repository of data that can provide answers about the effectiveness of these products and to test their claims. We need the evidence to help us in prescribing the appropriate validated product, at the right dose, for the right patient. Ensuring quality standards will allow physicians and their patients to be confident about using medical cannabis to treat a wide range of pain-related ailments.”

TruTrace CEO Robert Galarza told Benzinga that when it comes to distributing any medication, quality and consistency are critical.

"Unfortunately, this has been very difficult to track when it comes to cannabis-based therapies," Galarza said. "We are excited to be working with Shoppers to help ensure that thousands of Canadians who use prescription cannabis are getting the correct dosages and accurate information about their medicines.”

Photo courtesy of Unsplash 

Market News and Data brought to you by Benzinga APIs
Posted In: CannabisCryptocurrencyHealth CareMarketsInterviewGeneralBlockchaincannabis industrycannabis salesdr. hance clarkeken weisbrodmedical cannabisshopperstrutraceuniversity of health network
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

The Benzinga Cannabis Capital Conference is coming to Florida

The Benzinga Cannabis Capital Conference is returning to Florida, in a new venue in Hollywood, on April 16 and 17, 2024. The two-day event at The Diplomat Beach Resort will be a chance for entrepreneurs, both large and small, to network, learn and grow. Renowned for its trendsetting abilities and influence on the future of cannabis, mark your calendars – this conference is the go-to event of the year for the cannabis world.

Get your tickets now on – Prices will increase very soon!