N.M. Medical Cannabis Program on Track to Break $200M Before Year End

Third-quarter patient sales up 62% over same period last year, COVID-19 continues to impact demand

/EIN News/ — ALBUQUERQUE, N.M., Nov. 06, 2020 (GLOBE NEWSWIRE) — Combined patient sales from the 34 licensed producers in New Mexico’s Medical Cannabis Program totaled $55 million for the third quarter of 2020, an increase of $21 million or 62% over reported patient sales in the third quarter of 2019. Ultra Health topped all producers in the quarter with $12 million in patient sales.

The program enrolled 98,507 patients as of September 30, 2020, an increase of 27% over September 2019 enrollment. A total of 8,565 pounds of cannabis flower was sold to patients during the third quarter of the year, representing an increase of 41% over total pounds sold in the third quarter of 2019.

The increased demand experienced through the third quarter of 2020 indicates the COVID-19 pandemic continues to exacerbate medical cannabis shortages…

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