According to recent data from New Frontier Data, if cannabis is legalized fully in the US, it could mean a loss in billions of dollars for big pharmaceutical companies. Specifically, they estimate that at least $5 billion or more might be lost per year.
Current Status Of Legalization,
cannabis is legalized in a majority of the states in the US but it still remains illegal federally and so that creates a number of problems. For those states that have taken to legalize cannabis for either recreational or medicinal purposes, they have seen a drop in the amount of prescription drugs, roughly an 11 percent drop.
Cannabis is being used to treat a number of different illnesses and symptoms, among the most popular to be treated with cannabis are chronic pain issues, sleep disorders, anxiety, PTSD, glaucoma, and epilepsy.
When it comes to the potential for at least $5 billion to be lost, that is according to prescription drug sales for only the nine most popular conditions that cannabis gets prescribed for.
Troubles In Court,
a number of pharma companies are being sued at the moment. Consumers and lawmakers are pointing the finger of blame at them when it comes to their involvement in fueling the ongoing opioid crisis in the US.
At least 5 different companies are being sued at the moment: Teva Pharmaceuticals, Purdue Pharma, Allergan, Johnson & Johnson, and Endo Health Solutions.
Big pharma companies have allegedly been funneling millions toward cannabis opposition ads around the US. Companies like Insys Therapeutics Inc (the company which makes a fentanyl-based painkiller known as Subsys) which allegedly donated at least half a million to fund “responsible drug policy” campaigns.
Alcohol companies have also been allegedly funding cannabis opposition, which shouldn't come as a surprise considering that a number of consumers are opting for cannabis instead of alcohol. It's estimated that 1 in 4 American beer drinkers say that they are thinking about making the move to cannabis.
There are millions of people who could be helped with cannabis not only in the US but all around the world, and there are hundreds of thousands of jobs that could be created, and thousands of products that could be produced if cannabis and hemp were accepted rather than prohibited.
When you consider the jobs that depend on the drug war continuation, and the amount of money funding cannabis opposition that's coming from those who would lose revenue in the market if cannabis were further legalized, we can better understand why it's taking so long for changes to be made in this area.
Pics:
HighTimes via hightimes.com/business/marijuana-businesses-not-supporting-2016-legalization-campaigns/
Wikipedia
Giphy
Sources:
https://www.entrepreneur.com/article/296016
https://www.fool.com/investing/2017/06/18/could-legalized-marijuana-be-making-big-pharma-ner.aspx
http://www.businessinsider.com/opioid-crisis-and-insys-therapeutics-fentanyl-spray-2017-4
https://en.wikipedia.org/wiki/Legality_of_cannabis_by_U.S._jurisdiction
Related Posts:
Study: More Patients Dropping Big Pharma For Cannabis
https://steemit.com/cannabis/@doitvoluntarily/study-more-patients-dropping-big-pharma-for-cannabis
Big Pharma Funding Cannabis Opposition
https://steemit.com/cannabis/@doitvoluntarily/big-pharma-funding-cannabis-opposition
Another great post @doitvoluntarily! Big Pharma wouldn't spend half a billion on lobbying if it wasn't money well spent! But keep voting like they ask kids, because it's not perpetuating a scam at all
We already know it cures cancer. The receptors are already in our body. When will the general public realize this? FULL STEEM AHEAD!!!
Big pharma has the money and lobby power and will push for legalization if it benefits them
I'm not sure about this source but it looks like they might be.http://www.naturalnews.com/055699_Monsanto_Bayer_marijuana_industry.html
Thanks a lot..
Wow, 11 percent drop is a lot. Especially considering it isn't legal across the whole US
This is a very good post. Ive honeatly always felt like this (for years) and it feels good to know their are like minded people out there!!
At least they are taking time to consider what the possibilities are. If enough people vote it, it could be legalized everywhere. I'm just not sure if that is really what we want. Good article though.
Honestly, it wouldn't surprise me if big pharma fought this tooth and nail. I've had a few people in my family say that cannabis has really helped out their health. While some others have said it has done nothing to help them.
But if big pharma are losing customers they will fight this for a long time!
yeah you are dam right about this
The biggest problem with people trying to figure out if cannabis is medicinal happens to be the huge variety of quality/contamination with cannabis. Folks in prohibition states are usually only exposed to contaminated and poor quality cannabis.
The other issue happens to be the huge amount of recreational strains of cannabis, drastically low in CBD content. Prohibition (and the inability to easily/cheaply test for thc/cbd) has caused most breeders to focus on potency of the high/stone. When this is focused on, without testing for actual thc/cbd amounts, you end up with high THC, very low CBD strains.
Legalize people this is necessary!
Nice posts @doitvoluntarily
here is part of the problem, the incredible amount of money that is generated by fines in realtion to weed,. the state and federal governments make a killing fining people for use and possession, and what are we gonna do with all of those war on drug employees if marijuana suddenly became legal.
What I don't get is, the government saves money not having to spend enforcing anti pot laws, and the jobs lost will be gained back in the cannabis industry.
We have a different kind of issue over here in the UK which is that we could be getting big pharma's version of cannabis before we get cannabis legalisation - at the moment we have companies like GW pharmaceuticals with a license who can grow and make (some) medical cannabis products e.g. Sativex, which can be prescribed despite the herbal form remaining illegal.
I'm worried that we may see a legal cannabis-based-medicine market develop while cannabis remains illegal over here, which would be great for pharmaceutical companies, not good for medical consumers. But there are also promising developments in our campaigning, so time will tell. #LegaliseCannabis
In deed a sincere concern. Yet I do think that growing weed in an higly controled environment could provide far better quality. Besides that their are many ways to experiment with the wide variety of cannabinoids. Currently in the recreational growing sector the main focus is extreme high percetage of THC which in the long run don't really benefit people.
So don't get me wrong, I agree with your point of view. I think what I'm trying to say is that it also has potential positive effects given they are executed in the right way. The last is highly doubt full given todays situation with big pharma, which is money over people.
Cannabis is as we speak being legalized in Canada, as of July 2018. I am on the fence. My daughter has an eating disorder and she is 12, the experts perscribed cannabis in a pill format without the effects, to increase her appitite. Also the oncology kids get the same pills after their chemo treatments. So it is a good thing, yes but for the recreational guy out there, please don't drive High, my 16 year old just got her licence.
The issue isn't driving 'high' or 'stoned,' the issue is driving without being aware of how the cannabis affects you. This is true for every new strain of cannabis being used. Cannabis is not like alcohol. Though you CAN compensate for the effects of alcohol, it takes saturation for long lengths of time and is inherently dangerous.
The study done by the AAA (American Automobile Association) has shown cannabis users only need to be able to pass a field sobriety test. Just having thc in their system is not enough to cry 'inebriation.'
Look people are going to drive on pot and do other stupid stuff. People are stupid and it's hard to stop them, but the many positives outweigh the few negatives
Various studies of stoned driving over the years has come to the same conclusion all the time. Even though there is some reflex reaction time loss, and spatial distortion, stoned drivers SLOW DOWN to compensate, which makes them on average safer than even completely unimpaired drivers, and of course far safer than drunk drivers.
I think the pharma companies are set to profit from legalization. When canabis is a known alternative they must join the current. The way they will try and keep this evil monopoly is by issuing only tablets with inhalers with high regulation. This is sad but the good news it is still much better than current legal alternatives.
A FEW PUFFS ON A JOINT WILL TURN YOU IN UNEMPLOYED PSYCHOTH PROBABLY FOR LIFE (shit thing)
A study in the journal Obesity found that regular weed smokers are less likely to be obese than non-smokers.
The researchers from Conference of Quebec University Health Centers looked at 700 adults aged 18-74 – and found that cannabis users tend to have low body mass index scores (often taken as a sign of good health).
People with low BMIs tend to have less body fats and tend to be at lower risk for diabetes
A 2012 study in Consciousness and Cognition found that marijuana made people more creative – at least in terms of how well they used languag
using marihuana not in a regualr way (each day) will improve your life
lol just a few puffs you say? :)
the first part is not like the last lol^
@venela I'm confused now. What's your point?
His first sentence was the anti pot argument, the rest of his comment was refuting that. At least that's what I think
ahh I see. cool makes more sense now :)
I think cannabis is good if used medically and not an excuse for a recreation drug.
So many drugs out here. Even Steemit is a powerfull drug
That's true!!
Great post man. Keep em coming.
Followed.
Well, I've never been a yuuge drinker or anything but think about it. All of us know one friend that has had a DUI and how it has fucked up their lives immensely!
I'd rather stay home, smoke a bowl, get a pizza delivered, & watch a movie & live to fight another day.
Big companies trying to touch every market...
In the end just follow the money.....sad.
show me the money to be made and big pharma will block it for sure. it's all just sad
I say legalize it, but have same DWI driving penalties and you can not give it to someone without their knowledge. Go to jail if you do.
Yes. Sad but true. Smart people at the ground level (norml, etc) are working on solutions, let's home one of them hits the mark.
Good Post!
I like the beer drinkers to stoners conversion article....
Too many Pharma drugs would become irreverent if people had access to cannabis medications
I used to work in a "coffeeshop" in Maastricht, The Netherlands selling pot,until politicians decided that no foreign people were allowed in anymore, only local residents. I had old sick people crying in front of me, that they had no safe place to buy their medicines (Belgium and Germany was nothing allowed at the time) and they had to go buy on the streets, not knowing what they would get... I myself (after my contract ended) was not allowed in anymore, even tho I'm Dutch and only lived 30km into Belgium... They do what they want, as long as we let them do it.
Excellent post, Cannabis has so many real medical uses that actually cures, while big pharma at best only masks the symptoms but does not make you healthier. The prison industry is also lobbying against cannabis legalization.
I live in Arkansas, where we just passed medical cannabis this past election. They are estimating that 30-40k patients in AR will register for medical cannabis (have to have their family doctor sign off on it) by the time product is available in early 2018. I'm very curious to see the impact on the pharmaceutical industry.
if it's anything like in other states expect a lot of tax dollars to be made that year.
The money involved in globally large corporations in medicine its amazing to me that cannabis is legal anywhere. I've heard most of them have larger budgets in legal teams (protecting patents, lawsuits etc) than actual medical research shows you how messed up things are nowadays.
the raise of voting power had made seriously crazy money for users
for me , took me suddenly from $50 to $400 in a second lol
but do you think it will still high all the time or will be adjusted in the next update?
Great post, very important issue. Just saw and read your post and decided to publish our article from february on steemit, since it fits perfectly to your post/topic: https://steemit.com/cannabis/@anonnews/investigation-bayer-monsanto-set-to-take-over-marijuana-industry
Don't worry they'll get their version of it in pill form legalized. It will have a side effects list a mile long and won't work half as good tho
Big pharma lobby is very powerful, but things moving in right direction.
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@shanzaylizay
#I've Personally Witnessed People Stop Using Mass Rx,
when they switched to cannabis. You'd be surprised how many people are on 10-14 different prescription medications, with little to no life in them. Too tired to do much.
Switching to cannabis usually, after a while, eliminates most if not all the Rx they're on. Yes, big pharma is looking to lose a lot more than $5Billion a year.
A study in 2013 found the very small percentage of the population, in the few legal states in the US at the time, used up to $156M less in prescription drugs paid for by medicare.
That's $156M, just from medicare patients. Imagine what the true figures are and where they'll be in the next 10 years. Lots more states are medical now and a significantly larger number of people are using cannabis.
Want to end the health crisis? Legalizing cannabis completely would go a long way towards this goal.
It's just amazing how many problems cannabis helps or fixes
I thought it was a very interesting post!
Great Post! I am Your new follower!Support me new on steem plz Don`t forget to visit my posts. thanks
And you wonder why we don't have universal healthcare , Big Pharma spend million and millions of dollars to keep us suprissed but guess what people are walking up now
You make solid argument my friend one I fully support. I think u should go watch the documentary " The union , business of getting high " it discusses similar issues from prohibition era up to drug war snd grow up and jobs it provides.
I'm not sure about this source however it appears if they can't beat it they'll buy it and make Franken cannabis.http://www.naturalnews.com/055699_Monsanto_Bayer_marijuana_industry.html
Thanks for the great post. I agree with you take on the whole problem on the federal level. Too much money involved and we all know that D.C. is paid off with it. I believe victory will come from the local level. Anyone having trouble getting there medication in one of the regresive states check out my post https://steemit.com/medical/@legal420meds/video-how-to-get-your-medicinal-cannabis-card-and-your-medicine-sent-to-your-mailbox-available-in-all-50-states upvoted and subcribed keep up the good fight!