New Mexico Includes Anxiety Disorders On Its List Of Conditions To Treat With Medicinal Cannabis

New Mexico's health officials are expanding the state's Medical Cannabis Program to allow doctors to treat patients suffering from anxiety disorders, reported the Santa Fe New Mexican.

Following this movement, the state could boost sales in MMJ dispensaries, reported MjBizDaily.

According to the latest data from the Cannabis Control Division of the Regulation and Licensing Department, New Mexico's combined medical and recreational marijuana sales reached $40.67 million in August representing an increase from overall July sales of $40.3 million.

Expanding The MMJ Program

New Mexico's Medical Cannabis Advisory Board approved including anxiety as a qualifying condition after citing that roughly 465,000 (up to 25 percent) of the state's adult population could be experiencing the effects of this disorder.

The move encompasses all anxiety diagnoses, including:

• Generalized anxiety disorder.
• Social anxiety disorder.
• Medication-induced anxiety disorder.
• Panic disorder.
• Some phobias.

The change came about after two advisory board members, physician assistant Stephanie Richmond and Dr. Jean-Paul Dedam, petitioned the board to add anxiety as a qualifying condition, reported a local news outlet.

“Anxiety isn’t always completely alleviated by the medications that we have available now, and being able to utilize cannabis to treat anxiety disorder is something that is in alignment with the Lynn and Erin Compassionate Use Act to relieve symptoms,” said Richmond, who says she hopes the measure will reduce the need for addictive benzodiazepines.

The ruling goes into effect on January 1, 2023.

Additionally, Bennabis Health, a company helping to fill holes in the health insurance industry for medical marijuana patients has expanded into New Mexico. Through a partnership with AltaVida Dispensary, Bennabis Health will support medical marijuana patients, including those involved in workers’ compensation cases where cannabis is an alternative medicine for chronic pain.

NM Adult-Use Cannabis Market

In April 2021, New Mexico became the latest state to legalize adult-use cannabis after Gov. Michelle Lujan Grisham signed the Cannabis Regulation Act.

Recently, Medicine Man Technologies operating as Schwazze (OTCQX: SHWZ), a vertically integrated, multi-state operating cannabis company with assets in New Mexico and Colorado, reached a company milestone of having 40 dispensaries across both states. On December 15th, Schwazze closed the transaction to acquire certain assets of Lightshade Labs LLC. The consideration for the acquisition was $2.75 million, which was paid in all cash.
On the same day, Schwazze's New Mexico retail banner, R. Greenleaf, located in Albuquerque, NM opened yet another adult-use dispensary – the fifth in 90 days.

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Photo: Courtesy Of Esteban Lopez On Unsplash