$133M of medical pot sold in 1st year as pandemic legitimized industry in Ohio
Marijuana Industry NewsMedical MarijuanaOhio July 12, 2020 MJ Shareholders 0
The coronavirus pandemic has wreaked havoc on the state’s economy, but those in the medical marijuana industry say the virus legitimized the fledgling program in Ohio.
The medical marijuana program, which is run by the Ohio Board of Pharmacy and the Commerce Department, was fully functional in April 2019. Sales have significantly increased over the past year.
In May of last year, about $2.2 million and about 300 pounds of medical marijuana product was sold in the state of product has been sold, according to data from the Ohio Department of Commerce.
Medical marijuana sales in Ohio then jumped from $7.7 million this past February to $12.9 million in March — more than 1,500 pounds, according to the Ohio Department of Commerce. About $10.9 million of medical marijuana product was sold in April.
As of June 14, the most recent data available, a total of $133.9 million and 16,225 pounds of medical marijuana product has been sold since the program started.
The state has collected about $3.8 million in sales tax on the medical marijuana program from July 2019 to March 2020, according to the Ohio Department of Taxation. The state of Ohio’s fiscal year runs from July 1 to June 30. [Read more at Dayton Daily News]
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