Just another example of Patient Health taking a back seat to Profits….Disgusting
Once the federal government finally allows medical marijuana to become a legitimate part of the healthcare industry, Big Pharma could suffer the loss of billions of dollars, a new report finds.
It seems the pharmaceutical trade has more than enough reasons to fear the legalization of marijuana, as an analysis conducted by the folks at New Frontier Data predicts the legal use of cannabis products for ailments ranging from chronic pain to seizures could cost marketers of modern medicine somewhere around $4 billion per year.The report was compiled using a study released last year from the University of Georgia showing a decrease in Medicare prescriptions in states where medical marijuana is legal. The study, which was first outlined by the Washington Post, was largely responsible for stirring up the debate over how a legitimate cannabis market might be able to reduce the national opioid problem. It found that medical marijuana, at least with respect to those drugs for which it is considered an alternative treatment, was already costing pill manufactures nearly $166 million annually.Researchers at New Frontier identified nine key areas where medical marijuana will do the most damage to the pharmaceutical market — castrating drug sales for medicines designed to treat anxiety, chronic pain, epilepsy, post-traumatic stress disorder, sleep disorders, nerve pain, chemotherapy-induced nausea and vomiting, Tourette syndrome and glaucoma.
By digging deep into each condition, researchers found that if cannabis was used an alternative treatment in only a small percentage of cases, it could strip in upwards of $5 billion from pharmaceutical industry’s $425 billion market.