As Pennsylvania’s medical cannabis sales soar, recreational market prospects brighten
Pennsylvania’s medical cannabis market, praised for its smooth operation, is expected to nearly double to $400 million-$500 million in sales this year and reach $1 billion in sales within three or four years.
Buoyed by the market’s success, current licensees have become acquisition targets even in the current tough economic climate – with deal prices moving north of $25 million in some cases, experts say.
Pennsylvania, the fifth-most-populated state in the country, also is increasingly viewed as a market poised to legalize recreational marijuana.