New York Announces MMJ License Winners

New York has awarded licenses to grow, process and dispense medical marijuana to five businesses, including three that are already operating MMJ companies in other states or have permits to do so.

PharmaCann, Empire State Health Solutions, Columbia Care NY, Etain and Bloomfield Industries were awarded licenses to each operate one cultivation facility and four dispensaries in New York.

The three companies that earned the highest point total among the 43 applicants run medical marijuana businesses or have secured permits elsewhere.

PharmaCann already has four dispensary and two growing licenses in Illinois; Empire State Health Solutions is owned by Minnesota Medical Solutions, which operates two dispensaries in Minnesota; and Columbia Care runs dispensaries in Arizona, has licenses to open storefronts in Massachusetts and Illinois, and has a presence in Washington DC and Nevada.

Etain describes itself on its website as a “women-owned, family business.” Little is known about Bloomfield Industries.

New York’s MMJ program is expected to be up and running by next year. Dispensaries by law must be operational within 180 days of being licensed.

While startup costs could top $25 million each, the industry is expected to bring in from $40 million to $65 million in the first year alone, according to the Marijuana Business Factbook.

Some notable names were missing from the list of licensees, including a company owned by a former executive of the firm featured in the film “Wolf of Wall Street.” Fiorello Pharmaceuticals, which promised $5 million to academic and research institutions for study cannabis, finished seventh, less than four-tenths of a point from the fifth-place finisher.

Citiva Medical – run by MMJ pioneer Josh Stanley, who helped develop the Charlotte’s Web strain of cannabis – had the ninth-highest score.

Observers expect that some companies that lost out will file lawsuits.

 

4 comments on “New York Announces MMJ License Winners
  1. Greenknuckle on

    Now that we have the “camel’s nose under the tent” we need to get the whole damn camel inside the tent. Keep pushing for broader mmj coverage and totally unrestricted adult use. There are many, many underground mmj users whom are not eligible under this program that need to be able to come into the light of day. The poor and under served need to be able to grown their own. Keep fighting for them. Keep fighting for the little guy and small business that Albany has brushed aside, swept under the rug and kicked to the curb. Remember to use your vote accordingly. Stay strong, keep fighting for our right- we can beat the machine.

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  2. Mountzioncollective on

    I can already see the future…these companies, like in Canada, are being required to set up operations only sustained by high prices and limited market access…basically only really successful in a continued police state prohibition mind set.

    When this mindset falls away and they have real competition most of these large companies will get wiped out. Bunch of amateurs with big lips and lots of money. NO ONE KNOWS WHAT WILL HAPPEN IN ANY OF THESE MARKETS or if they’ll be successful and even if successful in the short term they can only last as long As the government has the will to enforce prohibition and reefer madness….the amounts they invested shows their stupidity I bet NONE are still in business 10 years from now, or if so they’ll have been bought out by somebody else.

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    • Tomas on

      Fools rush in… Anyone who has been even slightly awake over the last few years should know one thing for certain.. in this business nothing is for certain other than the fact that nothing is certain… expansions… contractions… meaningless statements by the government .. all in all it is hands down the dumbest damn thing I have ever seen and yet three cheers for alcohol the costliest substance on Earth in terms of the devastation caused.. has anyone seen where vineyards are being levied millions of dollars to grow as many vines as they possibly can and with no regard or penalty for the massive amounts of water used… Dr. Spoke nailed it.. “there is NO intelligent life down there Jim”…

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