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Big Pharma Stands To Lose $18.5 Billion If All 50 States Legalize Medical Marijuana

Therapeutic marijuana (medical), otherwise called cannabis, is overwhelming the medicinal world. Most generally viewed as close to a subsidiary of the recreational medication, medical marijuana is a well known treatment for conditions like epilepsy and chronic pain.

Research is investigating how cannabis is helpful in battling conditions like depression, insomnia, pain, nausea and anorexia. Studies are starting to demonstrate the possibility of cannabinoids not just going about as a powerful treatment for the negative reactions of chemotherapy, but also about having a powerful anti-cancer effect on the human body.

Notwithstanding the mind boggling potential for therapeutic relief medicinal marijuana presents, any use or prescription of cannabis or cannabis items (ex. CBD) is completely illegal in most of the 50 United States.

We are all stuck with the same question, why? Particularly when it all the more successfully treats conditions and ailments with less negative effects than basic pharmaceutical medications (drugs).

Why might our country prohibit a substance that, while managed cautiously for therapeutic use, would stay banned when it has been demonstrated to do so much good? All things considered, the appropriate response may be established in something you probably won’t expect. It’s about money!

The Difference Marijuana Can Make

A research directed by investigation firm New Frontier Data investigated what impact the introduction of marijuana with medications is influencing two things that are beyond the human health: industry and economy. A straightforward statement made by Giadha Aguirre De Carcer, CEO and originator of New Frontier Data, can portray the general conclusion of their discoveries.

“If cannabis somehow managed to be adopted naionally, we would start to see a pattern of patients turning to medicinal marijuana as a substitute or a sequel to pharmaceuticals.”

Scientists from New Frontier Data considered the top 9 conditions organized by the National Academies of Science that are most adequately treated by medical cannabis:

  • Epilepsy/Seizures
  • Glaucoma
  • Tourette Syndrome
  • Cemotherapy Induced Vomiting and Nausea (CIVN)
  • Nerve Pain
  • Anxiety
  • Post Traumatic Stress Disorder (PTSD)
  • Chronic Pain

Watching the sales of increasingly conventional pharmaceutical medications (drugs) used to treat these 6 conditions, a 2016 Health Affairs research concluded that states which had fully legalized medical cannabis saw a 11% lowering in such medications after said legalization.

New Frontier Data used those statistics to extend what the general monetary impact would be not just for those states which have just legalized medical cannabis, but in the event that the treatment turned out to be completely legitimized in each country of the 50 United States. They presumed that the total sum of money lost to the pharmaceutical companies in this situation could reach up to $18.5 billion somewhere between 2016 and 2019.

What It Means

Aguirre De Cancer in New Frontier Data‘s already published report:

“The United States establishes 35% of the worldwide pharmaceutical market, the biggest market on the planet, and a major driver of the U.S. economy.”

Despite the fact that $18.5 billion is a huge amount of money, Aguirre De Carcer clarifies how, standing against the biggest universal industry on the planet, “medical marijuana would be a negligible detail when it comes to impacting the entire pharmaceutical industry.”

Notwithstanding, on the facade of explicit divisions of the business, particularly those that go about as profoundly productive sub-markets for pharmaceutical companies like symptoms associated with chemotherapy or chronic pain, Carcer and her group of researchers trust that medical marijuana could really have a serious impact!

With such benefits on hold to be picked up or lost relying upon its legal status and its treatments, it’s no big surprise that national legalization may be consistently slowed down at the command of the monetary machine that is big pharma.

Sources:
www.fda.gov
www.ncbi.nlm.nih.gov
www.leafly.com
www.practicalpainmanagement.com

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