A state plan announced on July 16, 2018 indicated that New Jersey was in the process of expanding its Medical Marijuana Program (MMP) to include an additional six Alternative Treatment Centers (ATC), effectively doubling the total number of licensed medical marijuana retailers in operation.
These applications were released by the Department of Health on August 1, 2018.
New Jersey’s medical marijuana market is projected to be valued at approximately $89 million by the end of 2022, according to Cannabis Business Times, double the anticipated value for 2018.
There are more than 25,000 qualifying patients enrolled and registered with the state’s MMP. And with the MMP expanding its list of qualifying conditions to include five additional medical categories, another 7,000 qualifying patients have since registered.
It is also of note that the state is expected to allow adult use sales within five years, which will open up additional opportunities to entities already operating in the state.
Each of the six Alternative Treatment Centers (ATCs) currently in operation are vertically integrated: cultivating, processing and dispensing medical marijuana products in-house. These same operational conditions may be required for future licensees, though it remains unclear.
Content updated July 16, 2018.