The New Mexico medical marijuana program’s first three months of 2017 showed a significant increase in sales. Sales topped $19 million, an 86-percent increase since this time last year. From 2015 – 2016, there was a growth rate of 64-percent.
Revenues for 2017 are projected to reach or exceed $83.5 million, according to Las Cruces Sun-News. Ultra Health is the state’s leading producer reaching $1.2 million in increased sales for the first quarter of 2017. This is a 170-percent increase since this time last year.
Overall, nineteen producers experienced growth. Four producers stayed the same and the rest of the pack didn’t show significant increases since last year.
Statewide, six of its producers had first quarter sales over $1-million. The state’s top 5 producers made up 38-percent of the state’s total medical marijuana sales.
The medical marijuana program expects to reach 50,000 patients by year’s end.
Duke Rodriguez of Ultra Health said, “Although seeing revenue increase at this rate is impressive, it is more important to acknowledge the primary mission of the program: to provide improved patient access, enhanced quality of life, and make affordable medicine readily available. Unfortunately New Mexicans are still paying the highest price for their medicine due to the state’s overly restrictive plant count.”
Surveying regional pricing showed that New Mexicans pay the most for an ounce of medical marijuana.