Ultra Health leads major economic development with $7.2 million capital expansion project

(Albuquerque) – Ultra Health, New Mexico’s #1 Cannabis Company, leads all 34 cannabis producers with $9.2 million in patient revenue for the first six months of 2019. Total patient sales in New Mexico’s Medical Cannabis Program reached $59.5 million for the first six months of 2019, according to data submitted by the New Mexico Department of Health (NMDOH). 

Ultra Health has continued its dominating lead in the state’s medical cannabis program and plans to invest more capital for expansion efforts statewide. The provider is a committed, economic growth driver with 17 stores and more than 150 employees in New Mexico. Ultra Health has already expended $3.5 million in capital for the first half of the year and will continue its efforts with the completion of a $7.2 million capital expansion project by year end. 

Continue reading “New Mexico Medical Cannabis Industry First Six Months Up 17% Over Last Year”

Enrollment increases expected to continue amid substantial program changes

(Albuquerque) – Participation in New Mexico’s Medical Cannabis Program reached another milestone last month, reaching 74,100 patients by June 30, 2019. These enrollment figures represent a 35% increase over patient enrollment in June 2018, according to data released by the New Mexico Department of Health (NMDOH). 

The program has experienced monumental, year-over-year growth for the last three years. While patient enrollment is likely to continue its upward trend due to expanded eligibility and patient retention initiatives, available medicine statewide continues to fall behind patient demand. The shortage will likely be exacerbated as the industry begins to bolster under new program changes. 

Continue reading “New Mexico Medical Cannabis Program Nears 75,000 Patients”

Enrollment gains dramatically outpace sales indicating illicit market activity, public health risks

(Albuquerque) – The New Mexico Medical Cannabis Program patient revenues from the first quarter of 2019 reached $28 million, representing a 16% increase over the first quarter of 2018. Patient enrollment from March 2018 to March 2019 increased by 39%, more than double the rate of patient sales over the same period, according to data published by the New Mexico Department of Health (NMDOH).

Historically, the Medical Cannabis Program has seen patient sales grow at the same pace or faster pace than enrollment year over year. From 2017 to 2018, however, patient sales began to dip below the growth rate of patient enrollment. Today, patient sales are lagging the furthest behind patient enrollment in the program’s 11-year history.

Continue reading “N.M. MEDICAL CANNABIS FIRST QUARTER PATIENT SALES UP 16% OVER 2018”

Black market absorbs need as 1/4 of enrollees are unable to legally purchase consistent medicine

(Albuquerque) – Patient enrollment in New Mexico’s Medical Cannabis Program reached 72,375 patients as of April 30, 2019, marking a 39% increase over April 2018 enrollment.

Consistent double-digit patient enrollment growth shows no signs of slowing down, yet patient sales continue to lag behind at half the growth rate of patient enrollment. The gap between sales and enrollment indicates patients are being forced to purchase marijuana from the black market to meet their needs.

Continue reading “Patient Enrollment Gains Continue Despite Issues With Adequate Supply”

Participation continues rapid pace, available supply under Emergency Rule remains strained

(Albuquerque) – New Mexico’s medical cannabis patient enrollment reached 70,743 patients as of March 31, 2019, according to data released by the New Mexico Department of Health (NMDOH).

This enrollment level represents a 39% increase over March of 2018. It’s likely the Medical Cannabis Program will double in size over the next year, as the Governor signed Senate Bill 406 into law Thursday. The new law includes enhancements to the program such as three-year cards, telemedicine, framework for out-of-state medical patients to access the program, and more.

Continue reading “New Mexico Cannabis Patient Enrollment Increased 39% Over Last Year”

Updated Act adds access for school children, 3-year cards, employee protections, reciprocity

(Albuquerque) – Governor Michelle Lujan Grisham signed Senate Bill 406 into law on Thursday, April 4, effectively overhauling the state’s medical cannabis law for the first time since the inception of the program 12 years ago.

The sweeping enhancements to the Lynn and Erin Compassionate Use Act support the New Mexico Legislature’s public policy effort to define the use of medical cannabis as the equivalent of any other medical treatment.

“For the purpose of medical care, including an organ transplant, a qualified patient’s use of cannabis pursuant to the Lynn and Erin Compassionate Use Act shall be considered the equivalent of the use of any other medication under the direction of a physician and shall not be considered to constitute the use of an illicit substance or otherwise disqualify a qualified patient from medical care,” the statute reads under Section 14, Item D.

Continue reading “NEW MEXICO GOVERNOR SIGNS MEDICAL CANNABIS ENHANCEMENTS INTO LAW”

Growth of Personal Production Licenses in urban areas significantly outpaces total enrollment

(Albuquerque) – Patient enrollment in New Mexico’s Medical Cannabis Program reached 70,109 patients as of February 28, 2019, according to data released by the New Mexico Department of Health (NMDOH).

While patient enrollment has seen a dramatic increase over the last year of 44%, access to dispensaries in rural areas has also grown. Today, 95% of enrolled patients in the program have at least one dispensary in their county, and 87% of all cardholders have access to more than one dispensary.

Continue reading “New Mexico Cannabis Patient Enrollment Suprasses Record 70,000 Members”

180-day rulemaking process initiated to determine final amount to ensure an adequate supply

(Albuquerque) – The New Mexico Department of Health (NMDOH) filed an emergency rule on March 1, 2019, temporarily raising the medical cannabis plant count limit to 2,500 plants per producer. The temporary limit will expire in 180 days on August 28, 2019.

History was made as the leadership exercised by the Governor’s office marked the most significant collaboration between the State and the cannabis industry on behalf of New Mexico’s 70,000 patients. Continuous cooperation will determine a proper regulation that will provide an adequate supply for current and future medical cannabis patients statewide.

Continue reading “New Mexico Enacts Emergency Rule Raising Cannabis Plant Count To 2,500”

Patients choose Ultra Health by 6 to 1; Industry hampered by regulatory hurdles

(Albuquerque) – Combined patient sales from the 35 licensed producers in New Mexico’s Medical Cannabis Program totaled $106 million in 2018, an increase of $19.6 million or 23 percent over reported annual revenue in 2017.

Patient enrollment grew by 45 percent over the same period, from 46,645 patients as of December 31, 2017, to 67,574 patients as of December 31, 2018, according to data from the New Mexico Department of Health (NMDOH).

The enrollment gain in 2018 grew at nearly twice the pace of patient sales, resulting in the lowest available plant per patient ratio in the program’s history of less than ¼ plant per patient. This trend confirms the plant count limit, coupled with regulatory hurdles, are directly responsible for the lack of an adequate supply statewide.

Patient access restrictions in the program include scant purchase limits, potency caps, failure to honor reciprocity with other states and the prohibition on producers to provide savings to patients for volume purchases. All of these factors, along with a restrictive plant count, contribute to a  low program utilization compared to the region, inflated prices for patients, and increased black market marijuana activity.

Continue reading “New Mexico Medical Cannabis Program Finishes 2018 With $106 Million in Sales”