The state of New York will be growing their cannabis industry soon. The state just gave the greenlight to 5 new medical marijuana businesses.
Per Mj Biz Daily
New York authorized five more companies to manufacture and dispense medical marijuana in the state, which has the potential to significantly expand an MMJ industry that has struggled.
The five companies approved Tuesday by the Department of Health and the counties they’ll serve:
- Citiva Medical, Orange
- Fiorello Pharmaceuticals, Schenectady
- New York Canna, Onondaga
- PalliaTech NY, Ulster
- Valley Agriceuticals, Orange
The five new companies bring to 10 the number of medical marijuana businesses in New York, which has more than 25,000 certified patients and 1,000 registered practitioners, according to the health department.
State law permits each company to open as many as four dispensaries, which means New York could eventually be home to 40 storefronts, the Albany Times Union reported.
Four of the existing five companies – which have been operating since the MMJ program’s launch in January 2016 – filed a lawsuit to prevent the state from awarding the additional licenses.