New York’s medical marijuana market just got more crowded.
The state Health Department announced Tuesday that it has issued five additional licenses. Until now, the industry has been controlled by five companies. They have sued the state to prevent it from doubling the number of licensed sellers before they’re able to drum up enough demand for the product to recoup their expenses.
The new companies, all of which began building their operations while applying for the first round of licenses in 2015, are Citiva Medical, Fiorello Pharmaceuticals, New York Canna, PalliaTech NY and Valley Agriceuticals.
“When we didn’t get a license the first time around, we kept our entire team, we kept our manufacturing facility and we kept our development plans and educational materials, assuming this day would come,” said Erik Holling, president of Valley Agriceuticals, in Purchase, N.Y.
However, the company did make some changes to