Patient counts in New Mexico’s medical cannabis program have dropped significantly from the May 2022 peak of more than 135,000 to about 85,000, KRQE reports. According to Duke Rodriguez, president and CEO of Ultra Health, the loss of patients equates to the loss of around $85 million in cannabis demand.
“The concern that we should all have is 50,000 New Mexicans felt like they got priced out of the market. It wasn’t available, it wasn’t affordable and the biggest concern we should be concerned about is what are they seeking in lieu of cannabis for their treatment.” — Rodriguez to KRQE
New Mexico lawmakers legalized cannabis for adult use in April 2021 and sales commenced in April 2022.
According to state Regulation and Licensing Department figures, adult-use sales in the state for October totaled about $34.6 million, with medical cannabis sales reaching about $12 million, losing about $600,000 from the previous month.
In a statement to KRQE, the Department of Health indicated that they expected a reduced medical cannabis patient count in the wake of adult use legalization.
According to state data, in October 2022, patient counts in the state totaled 119,819 and fell by about 3,000 patients in November, December, January, February, and March. From March to April 2023, patient counts fell by about 1,000, which continued into May and June, before falling again by about 3,000 in July. From July to August, about 4,000 patients left the program, and from August to September the headcount was reduced by about 5,000 patients.
Get daily cannabis business news updates. Subscribe