By admin • May 24, 2017

Report: Medical marijuana could poach more than $4B from pharma sales annually

If the United States legalized medical marijuana for conditions such as chronic pain, anxiety and seizures, cannabis could siphon more than $4 billion annually from the nation’s pharmaceutical industry, a new study hypothesizes.

The report expected to be released Wednesday by New Frontier Data, a provider of data and analytics to cannabis businesses, is intended to show how cannabis could disrupt pharmaceutical sales in nine key treatment areas.

“Any opportunity for alternatives that could result in reduced pharmaceutical drug use might present a compelling point of discussion from a public policy standpoint,” said John Kagia, executive vice president of industry analytics for the Washington, D.C.-based New Frontier.

With the backdrop of opioid use concerns and the simmering debates on health care reform and marijuana legalization, Kagia and fellow analysts sought to explore the idea of pharmaceutical substitution — people eschewing prescription drugs and using medical marijuana to treat certain ailments.

Read more: Report: Medical marijuana could poach more than $4B from pharma sales annually

Limit of Liability/Disclaimer of Warranty: The publisher and the author make no representations or warranties with respect to the accuracy or completeness of the contents of this work and specifically disclaim all warranties, including without limitation warranties of fitness for a particular purpose. No warranty may be created or extended by sales or promotional materials. The advice and strategies contained herein may not be suitable for every situation. This work is sold with the understanding that the publisher is not engaged in rendering legal, accounting, or other professional services. This work is meant for audiences where cannabis is legally produced, processes, distributed, and sold. If professional assistance is required, the services of a competent professional person should be sought. Neither the publisher nor the author shall be liable for damages arising herefrom. The fact that An organization or Website is referred to in this work as a citation and/or a potential source of further information does not mean that the author or the publisher endorses the information the organization or Website may provide or recommendations it may make.