skip to Main Content
N.J. medical marijuana prices could be cut under new plan. They’re now highest in nation.

Gov. Phil Murphy’s administration will help lower the cost of medical marijuana by requiring for-profit companies entering the market to show how they will cut prices before the the Health Department allows them to operate.

With premium dried weed costing as much as $500 an ounce and no insurance company willing to cover the expense, many of the state’s 60,000 registered patients struggle to pay for their medicine every month.

In an email sent Tuesday to New Jersey’s six nonprofit alternative treatment centers — the formal name for licensed growers and retailers in New Jersey — Assistant Health Commissioner Jeff Brown explained that if they apply to change their status to a for-profit venture, they’ll need to submit a plan explaining how they will cut costs and expedite the opening of new dispensaries.

“We want to see them accountable to what they pledge to do with these plans,” Brown told NJ Advance Media.

In July, Murphy signed a law that allowed medical marijuana providers to voluntarily switch from operating as a nonprofit to a for-profit. The nonprofit owners asked for the amendment because they have struggled to find investments and were forced to pay exorbitant interest rates on loans. Marijuana possession and distribution remains a federal crime, despite state law permitting it. [Read more at NJ.com]

This Post Has 0 Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Recent Stories

CDTFA Cannabis Creditor: Myths and Truths

By Hilary Bricken, Attorney at Husch Blackwell Dealing with creditors is never a fun experience. However, some creditors are more severe than others, especially in the cannabis industry. One of…

If FL Supreme Court approves cannabis ballot language, will voters go for recreational weed or not?

The long wait on whether Floridians will get a chance to vote to legalize recreational cannabis for adults 21 and older is almost over, as the Florida Supreme Court is…

Missouri strips marijuana licenses connected to company accused of predatory behavior

Missouri’s health department on Wednesday stripped two coveted marijuana micro-licenses tied to an out-of-state company that had been accused of predatory practices and had listed the licenses for resale. The…

Dug In: Big Island Grown’s Deep Cannabis Roots

Big Island Grown (BIG) is a vertically integrated cannabis company based in Kailua-Kona, Hawaii County, on the Big Island of Hawaii, whose reach now extends to several islands in the…

More Categories

Back To Top
×Close search
Search