Cannabis Pictures

Medical Cannabis Sales Skyrocket in New Mexico

New Mexico’s medical marijuana industry has expanded rapidly over the last year and signs indicate more growth ahead.

According to an Associated Press report, the number of registered patients has nearly tripled in comparison to the first quarter of last year — there are now just over 55,000 patients registered. Medical marijuana sales from the first quarter have also increased, from $5.7 million last year to $10 million this year.

David C. Romero White, president of cannabis producer Organtica, said he expects the market will continue its rapid expansion this year.

Organtica is one of several not-for-profit groups that were licensed last year for new grow facilities and dispensaries, many of which have been opening new facilities around the state, generating jobs and boosting the economy.

“We’re all trying to get our production facilities up and running,” said Romero White. “It’s very tough – especially for the producers who are outside the Albuquerque market – and a little slow.”

There are currently 23 licensed cannabis producers and 37 marijuana dispensaries operating in the state.

New Mexico legalized medical marijuana in 2007 with the passage of the Lynn and Erin Compassionate Use Act.

Get daily cannabis business news updates. Subscribe

Have an additional perspective to share? Send us a message to let us know, and if your comment is chosen by our editors it could be featured here.

Sponsor message:

End


Latest Cannabis News

View all news Get email updates

Featured Business Profiles

Create a profile View all categories

From Our Partners