Less than a year before the first legal dose of marijuana is sold in New York, Riverdale resident Ari Hoffnung has found himself thick in the fray for one of five state licenses for marijuana dispensers.
Mr. Hoffnung founded Fiorello Pharmaceuticals last spring as speculation mounted that state lawmakers would legalize medical marijuana. Gov. Andrew Cuomo signed a limited bill for the drug’s medical use in July.
The application costs for each company in the running could come to several hundred thousand dollars. The start-up costs for some companies could run to more than $20 million. More>>>