Big Pharma is set to lose $18 billion in the next three years if medical marijuana is legalized on the federal level, according to reports.
Pharmaceutical companies are one of the biggest influences in US politics and a major player in the US economy and have subsequently wielded enormous power of US law. Big Pharma has been lobbying against medical (and recreational) marijuana legalization for decades and there is no secret why — they stand to lose a substantial amount of money.
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States that have already legalized medical cannabis are already causing a massive decrease in Big Pharma profits: prescription drug usage, including deadly opioids, have decreased by an average of 11 percent in these states.
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The National Academies of Science keeps track of the conditions most effectively treated with medical marijuana , and nearly all of them have high-profit prescription counterparts.
Among the conditions are glaucoma, chronic pain, nerve disorders/pain, post-traumatic stress disorder, anxiety, sleep disorders, and nausea/vomiting associated with chemotherapy. All of these conditions are equally, if not better, treated with medical marijuana, at a fraction of the cost and without nasty side-effects.
Big Pharma is desperate to prevent the legalization on marijuana in all 50 states, and they have unleashed a propaganda campaign to scare everyday Americans away from embracing the rollout of laws that will affect Big Pharma’s bottom line.
Big Pharma is an incredibly powerful and lucrative industry and they are not working for the benefit of the nation’s health. They are lining their own pockets.
While $18.5 billion in losses over a three year period may seem enormous, “medical cannabis would be a drop in the bucket when it comes to impacting the total pharmaceutical industry”, according to Giadha Aguirre De Carcer, founder and CEO of New Frontier Data.
For once Big Pharma must think about the health of Americans, not their profit margins.