A Massachusetts medical cannabis business that is close to receiving permission for recreational retail sales plans to pull product from its MMJ inventory to supply its recreational outlet, the Boston Business Journal reported.
New England Treatment Access, one of only two businesses to receive a final recreational marijuana retail license from Massachusetts’ Cannabis Control Commission last week, doesn’t yet have an adult-use cultivation license, but it operates a vertically integrated MMJ business.
Massachusetts marijuana businesses are allowed to take up to 65% of their medical supply and use it for recreational sales, according to regulations passed by state lawmakers in March.
The only other business to so far receive a final retail license is Cultivate, an MMJ firm that also has received recreational licenses for every part of its supply chain.
Of the 153 completed applications submitted so far, 81 come from existing medical marijuana dispensaries, the Business Journal reported.
While Massachusetts required MMJ businesses to be vertically integrated, the state’s recreational law allows operators to own just one type of business license if they want – say retail, cultivation or manufacturing – or obtain licenses for multiple or all cannabis business sectors.