With New York on the verge of adding five additional license holders, four of the five existing operators in the state’s medical cannabis program have filed a suit against the Department of Health, according to the Times Union. Bloomfield Industries, owned by MedMen, Etain, PharmaCann and Vireo Health argues that the market doesn’t have enough demand to support the existing providers. Columbia Care is not party to the litigation.
The total number of registered patients in New York is less than 18,000, but half of the first-time purchasers never repeat a purchase. Fewer than 1000 doctors and other medical providers have been approved to certify patients. Recently, the program added chronic pain as a qualifying condition, a move that could help drive growth.
Read Matthew Hamilton’s “NY medical marijuana companies sue over state’s plan to expand program”: http://www.timesunion.com/local/article/NY-medical-marijuana-companies-sue-over-state-s-11108109.php
