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]

This Post Has 0 Comments

Leave a Reply

Your email address will not be published.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

Recent Stories

Group forms to help give equal access to Connecticut’s new cannabis market

A new association has been formed to ensure Black and other under represented communities will have an opportunity to participate in Connecticut’s new legalized recreational marijuana industry, as state legislators had promised. The Alliance for Cannabis Equity, or ACE, created by two local workforce and economic development organizations, will host various programs to help aspiring…

Phoenix Rising: Will Terry Booth’s Audacious New Game Plan Succeed?

Australis Capital Inc. (CSE:AUSA) (OTC:AUSAF) CEO Terry Booth, who famously started Aurora Cannabis in 2006 before departing under duress in 2019, has a lot on his mind and his plate these days as he undertakes for the second time in his career the truly formidable task of steering a large cannabis venture into market relevance.…

Top 5 Communications Strategies According to Publicity Experts

Every cannabis and cannabis-related brand needs publicity to spread the word, boost awareness, and motivate people to buy its products and services. The challenge for businesses working in and with the cannabis industry is determining how to invest their time and marketing budgets to get publicity that actually drives the type of engagement that leads…

Delta-9 THC Products from Hemp Are a Risk Not Worth Taking

The hemp-derived cannabinoid market continues to grow and evolve despite lingering questions over federal legality and numerous state laws that try to keep pace. Much has been written about new “legal” hemp products that contain intoxicating delta-8 THC, delta-10 THC and THC-O Acetate. This article, however, seeks to highlight a brazen new use for familiar…

More Categories

Back To Top
×Close search