Annual sales near $2 billion and rising in states with tolerant laws
There is a noticeable aroma wafting around the medical marijuana industry. It’s the smell of money — with a strong hint of entrepreneurial opportunity.
“Medical marijuana is now a $1.7 billion market, according to a report released Wednesday by See Change Strategy, an independent financial analysis firm that specializes in new and unique markets. The figure represents estimated sales of marijuana through dispensaries in states with medical marijuana laws. It is the first time a definitive dollar figure has been given to the emerging medical cannabis industry.
To put that number in perspective, sales of medical marijuana rival annual revenue generated by Viagra, a $1.9 billion business for Pfizer.” Full story here.
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