Cannacurio #78: Pharmacy & Retail Leaderboard Q2 2023

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With the second quarter of 2023 in the books, we’d like to share our quarterly roundup of states that have issued pharmacy/retailer licenses. We ended 2022 with 2,750 licenses, adding 699 in the first quarter of 2023. The second quarter added 587, down 16% from the previous quarter.

In the second quarter, four states: New York, California, Michigan, and Florida accounted for 66% of those licenses. This is the first time in years Oklahoma hasn’t made the top of the list.

Key Findings

• Four states accounted for 66% of those Q2 licenses: New York, California, Michigan, and Florida
• Oklahoma granted only 11 store licenses in the second quarter versus 332 in the first quarter
• New York coined nearly 33% of new licenses in the second quarter

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Each quarter we spend some time talking about Oklahoma. This time the asymptote tells the story as the number of licenses issued approaches zero:

leaderboard

Looking at the 699 new licenses, it’s instructive to see which companies have opened stores. Based on the Cannabiz Media License Database, here are the 6 companies that added 7 or more licenses during 2023:

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Finally, the table below shows Cannabiz Media’s final balance of pharmacy/retail licenses for June 2023. The net change since the first quarter is +360:

Diploma

At the end of the first quarter, the total number of branch/pharmacy licenses increased by 4.9% compared to the end of 2022. The numbers are up 3% compared to the first quarter of 2023. We’ll no doubt see more stores in states like California, Michigan, Florida and New York, which admitted 200 more this week. Barring a mass extinction, Oklahoma is likely to retain its lead as the busiest market for some time to come, as it still has more than twice as many as California.

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author

Ed Keating is co-founder of Cannabiz Media and oversees the company’s data research and government relations. Throughout his career he has worked with and advised information companies on compliance issues. Ed has managed product, marketing and sales while overseeing complex, multi-country product lines in the securities, corporate, UCC, safety, environmental and human resources sectors.

Cannabiz Media customers can stay up to date on these and other new licenses through our newsletter, notification and reporting modules. Subscribe to our newsletter to get these weekly reports straight to your inbox. Or you can schedule a demo to learn more about how to access and dig deeper into the Cannabiz media license database yourself.

‍Cannacurio is a weekly column from Cannabiz Media featuring insights from the most comprehensive licensing data platform. Check out Cannacurio posts and podcasts for the latest updates and information.