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Medical marijuana firms in New York get ready to grow

Submitted by Marijuana News on Wed, 07/01/2015 - 08:45

 

The five winners for New York State licenses to grow, market, and sell medical marijuana could be announced as early as Friday.

The battle to win one of the five licenses for New York State’s new medical marijuana program could be over as early as this Friday, Fortune has learned. While the number of applications the state ended up receiving was far lower than what was earlier reported, the intensity of the competition was much greater than anticipated, according to a person with knowledge of the matter.

The five winners will be granted exclusive rights to grow, market, and sell medical marijuana in New York State and operate up to four dispensaries apiece when the program goes live in January, 2016. The state is granting the licenses now to give the winners time to grow enough marijuana to meet demand come next year.

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http://fortune.com/2015/06/30/medical-marijuana-new-york/?xid=yahoo_fortune

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