Cannabis Vs. the Pharmaceutical Industry
Reports show a gigantic growth of the marijuana industry in the United States and worldwide. With numerous individuals opting for medical marijuana, there has been growth in this industry in the previous years.
In the earlier days, many stigmatized individuals using marijuana for recreational or medicinal purposes. Most people used to fear even the mention of the name. However, marijuana is gradually becoming popular among the medical community. Many individuals opt for medical marijuana as an alternative or supplement to treat various conditions and diseases.
While marijuana has been effective in alleviating various diseases and conditions, the alternative doesn’t sound good for the pharmaceutical industry. Stakeholders in this industry find the rise of marijuana as a huge stumbling block in their operations and sales.
But what are the exact effects of the marijuana industry explosion on the big pharmaceutical companies? Read through the article to get a real comparison between marijuana cases and the pharmaceutical industry.
Does Marijuana Industry Pose a Threat to the Big Pharmaceutical Firms?
At first, it may seem logical to assume that marijuana growth doesn’t affect the pharmaceutical industry in any way. After all, reports show that the medical and pharmaceutical industry has huge financial reservoirs. Government statistics reveal that this industry is approximately ½ billion dollars wealthy. With this wealth and the sale statistics, logically, these companies shouldn’t fear the growth of the cannabis industry.
However, reports show that most Big Pharmaceuticals have been hostile, and most have been against the growth and popularity of the medical marijuana industry. These companies have been campaigning against any positive trends and possible growth of the marijuana industry. Some companies have actively invested in campaigning against the state and federal government legalizing marijuana use. Alternatively, some companies have reacted by counteracting the growth and popularity of medical marijuana.
In addition, large pharmaceutical firms are trying to keep pace. These firms have invested in the manufacture of various synthetic cannabinoids. The production of synthetic cannabinoids will be integral in controlling the release of natural marijuana cannabinoids in the medical market.
For instance, Inysys (a large pharmaceutical firm) manufactures and releases Syndros into the market. Syndros is one of the common synthetic marijuana substitutes, which resembles a liquid or semi-liquid Dronabinol form. The manufacturer created and designed this synthetic cannabinoid to mimic THC and its effect. THC is one of the common marijuana cannabinoids that comes with various psychoactive effects.
Besides Inysys, other companies have copied the tactic and are releasing various synthetic cannabinoids, including Cesamet, Marinol, etc. These are some synthetic cannabinoids and THC substitutes that the FDA has approved for human use.
Pharmaceutical companies are eager to dell and devise their cannabis mimic products and campaign against using natural marijuana. These actions provide the truth of the effect medical marijuana use has brought to the pharmaceutical industry.
Nevertheless, most studies ( including one by Aviv M. and Koby Cohen) point out the dangers of using synthetic cannabinoids. Using these cannabinoids increases the risk of various chronic medical and psychiatric conditions. Besides the increased risk of psychiatric and other medical conditions, using marijuana cannabinoid replacement increases the risk of developing other life-threatening effects, including hypertension and respiratory difficulties.
With these adverse effects, it’ll be wise to stick to using natural marijuana cannabinoids than manufactured alternatives. But why does the growth of medical marijuana worry Big Pharma so much? What is the possible impact of the rise of medical marijuana on the pharmaceutical industry?
How Does the Marijuana Industry Affect Big Pharma?
The hostility the big pharmaceutical industries have toward the rise of medical marijuana shows the extent to which marijuana has affected these sales.
In a certain study by Bradford WD and Bradford AC, the researchers found that after a state legalized medical marijuana use, it changed the prescription medication habits of the residents.
Before the legalization, physicians could prescribe a wide range of different drugs, including opioids and other commercial medications. Nevertheless, the study showed a change in habits after the legalization of medical marijuana. Evidence shows a decline in the rate of residents using prescription medication.
The study shows physicians prescribing marijuana to alleviate severe pain and other debilitating conditions. Medical marijuana provides an effective, safe, and cost-effective medical alternative to harmful and expensive commercial prescriptions.
Physicians mainly consider medical marijuana products to alleviate various conditions and symptoms because patients can easily pick their medical marijuana products. The patient will require only to have the medical a certified physician’s recommendation and advice on the appropriate marijuana strains to consider for their conditions.
Alternatively, it'll still be cost-effective if the patients get a prescription for the given cannabis strain from a certain institution. Using the treatment would be cheaper than purchasing regular or traditional medications.
Findings from a certain study revealed that the United States allowing medical marijuana use has saved approximately $165.2 million annually. The saving results from patients preferring natural marijuana over expensive drugs or medication to alleviate their conditions.
Bachhuber et al. conducted another study and published the findings in the ‘American Medical Association of Internal Medicine.’ The results showed a 24% decrease in the opioid overdose rate in the states with medical marijuana programs.
While it’s not good to always assume that the rate of causality equals causation, the results from this study suggest that patients were choosing their preferred choices. The physicians allowed these patients to choose their preferred choice between medical marijuana and opioids, most of them opting for marijuana. Besides using marijuana for medical purposes, most residents preferred cannabis as a recreational drug over the more dangerous and hard drugs like Fentanyl, heroin, etc.
Cancer Drugs as the Biggest Cashpoint for Big Pharma
Reports show that in 2017 and 2018, cancer drugs were among the highest pharmaceutical drug sales in the country. In the top 15 best-selling drugs, there were six cancer treatment drugs. The survey showed that colon cancer, breast, melanoma, myeloma, and lung cancer were some of the common cancers individuals were treating. Furthermore, immunotherapy drugs were also some of the drugs making this list.
Cancer treatments are the biggest cash point for these companies. In 2018, the cancer drug sales from Avastin, Opdivo, Revlimid, Keytruda, and Rituxan amounted to $45 billion. However, the increased media sensitization of THC and CBD cancer-fighting properties will also increase the damage marijuana causes to the industry.
Opioids, Medical Marijuana, and the Severe Pain Treatment Evolution
Most scientists and researchers have criticized big pharmaceutical companies for the opioid epidemic in the United States. Statistics show that an average of 130 Americans die daily due to opioid overdose. Physicians usually prescribe opioids to treat severe pain, a common ailment among Americans. Due to the higher prevalence of severe pain, pharmaceutical prescriptions are soaring annually.
Despite the high number of American residents seeking pharmaceutical opioid medication, there is still a huge debate surrounding the use of opioids. Despite the big pharmaceutical names revealing that opioid medication comes with a huge threat of addiction, we’ve got various issues surrounding using these pain medications. For instance, since 2013, most opioid deaths have occurred due to illegal pharmaceutical opioids, mostly those with manufactured Fentanyl components. However, between 2006 and 2017, reports show a significant reduction in opioid prescriptions by 19%.
Bachhuber et al. conducted a study in 2014, and the results showed that the legalization of medical marijuana in most states has helped reduce opioid deaths. Despite the numerous restrictions and limitations, the research showed a significant drop in opioid overdose and death cases in states that legalized medical marijuana usage. Remember, the lower or reduced overdose rates will keep growing over time. Nevertheless, most studies have found it daunting to understand how cultural issues affect opioid overdose or lead to opioid overdoses or deaths. The study didn’t cover the part of the population or demographic at risk of overdose or death.
Statistics show that severe pain is one of the main conditions that make Americans seek medical marijuana therapy. More than medical marijuana patients opted for this treatment to alleviate severe pain. Besides alleviating chronic pain, some individuals use this natural treatment option to keep off or prevent opioid addictions.
With the evidence, the media also greatly impacts Big Pharma as the cause of opioid overdose. This issue has depopularizes these companies and affected their sales potential. Experts reveal that the media portraying big pharma as the main culprit for the life-threatening opioid epidemic and advocating for the use of natural marijuana as the best approach to get off this crisis is big to the pharmaceutical industry. The media makes the opioid aspect and chronic pains a huge threat to pharmaceutical industries' increasing sales and success.
Medical Cannabis as a Safe Alternative and its Impact on the Big Pharma
A particular study shows that marijuana can be a possible alternative for various conditions, including cancer or chronic pain treatment. The findings showed that the use of medical cannabis to alleviate various conditions greatly impacts the sales and revenue income of Big Pharma. The Bradford study involved the researchers looking at the association or relationship between the number of medications prescriptions to treat various conditions and the legalization of medical marijuana use.
The researchers found that there was a significant reduction in the number of prescriptions in states or areas where residents could access medical marijuana. The legal use of medical marijuana has changed the prescribing pattern and the reduction of the state’s expenditure on Medicare and other prescription medication. HappyMD reveals that patients should consider having easy access to medical cannabis. Medical marijuana is a safer and more effective alternative for antidepressants, anti-anxiety, traditional pain drugs, and other harmful or addictive medications for your different symptoms. Medical marijuana has developed into the best way to save the nation from the opioid epidemic.
It’s evident that in states allowing medical marijuana use, the number of individuals considering this alternative over prescription medication is soaring. Furthermore, as a single medication, marijuana can alleviate more diseases or conditions than a single prescription medication. With these benefits, the increased use of medical marijuana is indeed likely to eliminate numerous medications, as you only need one marijuana dose to alleviate various conditions. You can use a single marijuana dose to alleviate conditions like chronic pain, arthritis, Crohn’s Syndrome, cancer, inflammation, etc.
It’s vital to understand that medical marijuana use is becoming more popular and valid in most states. Many organizations and researchers have invested more resources in studying marijuana cannabinoids, including CBD and THC. The increased studies and research helps to validate the CBD enthusiasts' claims. With proven analgesic, anxiolytic, antiproliferative, and anti-inflammatory properties, medical marijuana is gradually making its way as the best natural medication alternative.
Importantly, the marijuana industry has begun the production of pharmaceutical-grade marijuana drugs. Most pharmaceutical companies, such as the GW Pharmaceutical Sativex, are partnering with the marijuana sector or field to produce these effective drugs. The manufacturers use near-pure marijuana extracts, including CBD distillate and isolates, to produce these high-grade pharmaceutical medical marijuana medicines or products.
Nevertheless, the rise of the medical marijuana industry doesn’t mean that there is a war or rift with Big Pharma. Some pharmaceutical companies, like GW Pharmaceuticals, are taking advantage of the revolution and are including marijuana in their production. This company has invested more time and resources in manufacturing various marijuana-based drugs. Unlike the other companies, GW uses real marijuana cannabinoids to produce the drugs. Besides investing in producing these products, the company has invested in various studies on the safety and effectiveness of the medication.
Like GW, most companies are considering manufacturing medical marijuana products to maximize sales and profits from both sides. GW has successfully produced various marijuana-infused medications or products, like Sativex.
So has marijuana affected big pharma?
Medical marijuana is a novel medicine that most Americans and patients are considering. The medication has a huge potential to alleviate various medical conditions. Evidence shows that the growing popularity of medical marijuana has greatly affected big pharma. However, marijuana affects big pharma in various ways that they can get defense.
Despite the effects, big pharma is still worth billions more than the medical marijuana industry. Thus, these companies have more potential to take advantage of the use of marijuana to alleviate various conditions than competing with the industry. These companies can follow GW Pharmaceutical's approaches to include marijuana innovation in their production. Besides this strategy, big pharma considers appropriate research and chooses the right way to incorporate medical marijuana into their production.
What Actions have the Pharmaceutical Industry Taken?
With the evidence and report, you might feel sad for this industry; the medical marijuana popularity has reduced its sales, profits, revenue, etc. The rising popularity and many individuals switching to medical marijuana may adversely affect the industry. Furthermore, the legalization of medical marijuana use in most states has reduced the funding or resources for the production of new novel drugs.
With Big Pharma being one of the largest players in the state, you shouldn’t worry about these effects on their future. These companies have huge profits and revenue reservoirs that they can use to fund their new projects. Thus, there is no cause for alarm for the funding of these companies, newer projects, or manufacturing.
The main worry is the strategy these companies will use to stop or reduce the rise and growing popularity of medical marijuana use among patients.
Most companies have shown an open desire to fight the rise of medical marijuana use and legislation. In the past, the companies have funded various anti-legalization campaigns in the state and warned people about the adverse effects o marijuana use. These companies have even begun or attempted the production of synthetic cannabinoids to compete with natural marijuana products.
The companies were aiming at the individuals who were desiring the health benefits of cannabinoids. Synthetic cannabinoids were to provide a better alternative to individuals who wanted to enjoy these benefits without getting too 'high.' Furthermore, these cannabinoids were to save users from social stigma from regular marijuana use. Synthetic cannabinoids, like Cesamet and Marinol, were competing with the natural marijuana cannabinoids in the market.
Nevertheless, experts reveal that, at times, common wisdom and folklore win over the big companies’ desires. Individuals have used marijuana for various purposes over a long time. Many individuals worldwide have used this herb for medical and recreational benefits. Remember, the ancient populations enjoy the whole marijuana plant. They harvested the seeds, smoked the buds or flowers, and used the leaves for medical purposes.
There is a huge difference between regular marijuana and synthetic cannabis products. Regular marijuana contains more complex and varied cannabinoid compounds, unlike synthetic constituents that emphasize THC.
While THC is the most popular cannabinoid in marijuana, the cannabis plant also has huge quantities of CBD. CBD is one of the most-studied cannabinoids in marijuana, as it helps to alleviate various conditions. For instance, in Dalton et al., a study in the ‘Journal of Clinical Pharmacology and Therapeutics' CBD was the major contributing factor or component to help the suppression of the development and spread of psychosis in most individuals.
In addition, other cannabinoids, like CBN and THCA, exist in small quantities in a whole marijuana plant. Besides these cannabinoids, marijuana also has terpenes, which are abundant in various amounts. Terpenes are common chemical compounds responsible for creating unique aromas and flavors in a particular strain.
The combination of these marijuana cannabinoids offers a complete experience. Including these cannabinoids makes smoking marijuana enjoyable and helps to alleviate your conditions. They offer the best alternative to synthetic marijuana products.
Additionally, with the legalization of medical marijuana use in most states, you can legally grow the stems at home. Most states with legal marijuana use provide regulations on the cultivation of marijuana stems for personal use.
Thus, if you have a condition that requires medical marijuana, it’ll be wise to seek a physician's advice to help you choose the best strain. Depending on the products’ prices and state regulations, you can consider cultivating your marijuana at home.
Regardless of the next move, the pharmaceutical industry hopes to take on battling the rise or popularity of medical marijuana usage; it'll be less likely that they’ll win the war on curbing the rise of medical cannabis use.
Final Thoughts on Marijuana Vs. the Pharmaceutical Companies
Experts consider the idea that some of the largest industries in the United States are battling medical marijuana pretty ludicrous.
After all the struggles and strategies, marijuana is a simple plant that competes against the country’s largest moneymakers.
Nevertheless, the rise of medical marijuana use and the legalization of recreational cannabis use are beneficial. Besides allowing the patients to prescribe the medications, it offers a cheap alternative. You’ll not have to pay huge amounts of money to pharmaceutical companies to get simple medications.
While cannabis is harmless, and most individuals consider it more of a recreational drug, it shows a great shift in the ideological reasoning of various residents in the United States.
Instead of relying on pharmaceutical companies and Big Pharma for the supply of medication, you can consider this simple plant. Marijuana is tested and tried plant in the medical field. Furthermore, it has a long-term history of helping individuals alleviate various conditions.
While the huge pharmaceutical industry is there to stay, medical marijuana provides for patients for whom the companies have been making money on their expenses. You can reduce your expenditure on expensive pharmaceutical medication by switching to medical marijuana.
Despite being just a plant offering useful medical properties and some fun effects, it has had significant growth. The rise and growth of medical marijuana pose a threat to Big Pharma.
Switching to medical marijuana allows access to a safe, more effective, and natural way to alleviate your conditions than pharmaceutical medications. Applying and getting your medical marijuana card helps you to access these products legally in states with an MMJ card. Book with us to connect to a wide network of certified MMJ physician physicians for 420 evaluations and get your medical marijuana card online. HappyMD offers straightforward and cost-effective telehealth procedures to get your MMJ card and access these products.
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