Medical marijuana sales in Maryland tops $96M as market booms in first year of operation

December 8th, 2018 by admin Leave a reply »

Maryland’s medical marijuana industry ended its first year of operation this week with $96.3 million in sales driven by nearly 52,000 patients who have purchased about 730,000 individual products such as vape pens.

Between 250 and 350 patients have been applying each day with the state to be able to purchase cannabis products sold from the dozens of licensed stores across Maryland, many of whose owners cannot resist a pun, such as Starbuds in Baltimore, Hi Tide in Ocean City and Grow West in Cumberland.

“This is significant business for the first 12 months, considering it’s a ramp-up period and there is a lot of work that needs to be done,” said Joy Strand, executive director of the Maryland Medical Cannabis Commission, at the panel’s meeting on Thursday in Annapolis. “That is great progress.”

Strand’s first day on Dec. 1, 2017, coincided with the launch of an industry that had endured many false starts since the Maryland General Assembly approved medical marijuana five years ago — a step that has positioned the state among 32 others and Washington that have approved marijuana programs.