Puerto Rico, a longtime hub for the pharmaceutical industry, has another lucrative market — cannabis.
“It’s empowering and very exciting to see this industry grow, especially in Puerto Rico, [which] was all pharmaceutical,” said Latinas Cannaprenuers founder Frances González.
Puerto Rico’s medical cannabis program was signed into law via a 2015 executive order. It found its way into legislation two years later. Since then, the market has shown immense promise despite historic setbacks.
In September 2017, Puerto Rico was devastated by two hurricanes: Irma and Maria. The island’s infrastructure and crops were destroyed.
However, Puerto Rico’s medical marijuana market recovered, generating promising sales figures and a substantial number of patients registered. Patient enrollment from 2019 government data reported that nearly 92,500 citizens had registered for the program. It is expected that the total will rise above 100,000 for the territory of 2.8 million this year.
Puerto Rico generated roughly $60 million in medical sales during 2018, with that …