If marijuana is legalized for medical purposes Pharmacy companies could suffer heavy losses. Cannabis is an effective plant and its medicinal usage can help humans recover a large number of body ailments that range from painkilling drugs to other aids hence causing pharma industries big losses.
It was found that usage of medical marijuana instead of usually prescribed drugs as an alternative treatment had cost pharmaceutical industry a big loss of around 166 million $.
A lot of research is done on the cost-effective analysis of the pharma market, and Marijuana, if used only in some of the medicines, it could wipe out 1% of the total revenue of Pharma market.
Industries that are most likely to get affected if Medical Marijuana is legalized are drugs treating anxiety, nerve pain, chronic pain, Glaucoma and even beneficial in relieving stresses which would result into heavy disruption of the pharma industry.
Some companies are ready with their plans on to enter the market with marijuana and cannabis influenced medicines as soon as its medical usage is legalized.
Marijuana is a promising marketable drug which would attract a lot more interest and investment in future after legalization.
A ton of cash dependably pulls in a considerable measure premium. Huge Pharma companies need the income that weed guarantees, however, yielding advertisement powers undermine their interests. Huge Pharma won’t be able to get their share with people and authorized makers gathering cannabis, also the bootleg market that keeps on flourishing.
Ben Cohen, composing for US News, says it’s all about cash. He expresses, “For quite a long time, expansive partnerships and all around obeyed lobbyists have hindered the sanctioning of marijuana for restorative utilize or recreational use with a specific end goal to ensure their own particular benefits. This seems to end very soon seeing the marijuana revolution going around in the industry. Medicinal marijuana or cannabis is legitimate in 20 US states, where it is utilized for an assortment of restorative conditions, for e.g. Nausea, torment issue, various sclerosis, and much tumour. Medicinal marijuana isn’t a wonder cure for everybody… except it has been known to provoke some quite inexplicable recuperation. Sadly, regardless of whether you approach this possibly extraordinary characteristic cure relies upon your postal district – a reality that is bringing developing dissent up in the US.
In spite of the way that 80 to 90 percent of Americans are supportive of medicinal cannabis, and almost 60 percent are agreeable to authorizing weed, numerous individuals are as yet unfit, legitimately or something else, to get sure about this turning to be a regular treatment.
Parents aren’t yet sure if they should give the medical marijuana as a treatment to their kids as they may get addictive according to some mythical beliefs.
Cannabis was a famous natural drug in the early years, very normally available in the drug stores of old times. However, in late 1970’s, the herb was proclaimed a Schedule 1 controlled substance and marked as a medication with a “high potential for abuse” , though the US Food and Drug Administration (FDA) endorses drugs, recommended by specialists consistently, that have turned up killing more than a laky Americans per year.
A survey was done and creators took note of that cannabinoids have the limit with respect to the absence of pain through neuromodulation in climbing and slipping torment pathways, neuroprotection, and calming systems—all of which shows that the cannabinoids found in cannabis have usage in curing unending physical suffering and other weakening conditions.
Most common problems that can be treated with cannabis include:
- Parkinson’s disease
- Post-Traumatic Stress Disorder (PTSD)
- Seizure disorders
- Mood disorders
- Pain disorders
- Degenerative neurological disorders
- Multiple sclerosis
Though it would still take time for pharmaceutical industries to vanish over and taken over by Marijuana industry because there are still obstacles that lie to clear off for increasing Marijuana’s businesses and market. If it happens soon pharmaceutical industries are surely going to suffer a big loss.