Medical cannabis is about to "cannibalize" the pharma industry
The expansion of the medical cannabis branch in the United States will cause 4 billions of dollars a year in damages to US pharmaceutical companies. According to a new report released this month. The profits of pharmaceutical companies are already impacted on the sale of certain drugs. Like painkillers, post-traumatic stress pills, sleeping pills, anti-anxiety pills, pills for epilepsy and side effects of chemotherapy. All that cannabis can replace ...
Medical marijuana the big replacement
Studies published in recent years have repeatedly shown that medical cannabis reduces the use of painkillers and various prescription drugs by tens of percent.
Today, already more than 20 states have already approved medical cannabis treatment. Especially for people suffering from various diseases and health problems. A new report released this month shows that a similar authorization to use medical cannabis in all US states can lead to huge losses for pharmaceutical companies.
According to this report, published by New Frontier (a company specializing in the collection and control of data in the cannabis field), the medical cannabis industry should "Steal" more than 4 billions of dollars each year, to pharmaceutical companies.
Le rapport, conducted by the University of Georgia, in light of the opioid epidemic in the United States, examined how medical cannabis will affect the profits of pharmaceutical companies. As well as on various drug to treat various health problems. These American data on medical marijuana have been used in recent years.
According to the results, previous research has shown in 2013 that medical cannabis has saved many patients in the United States. The US which confirms the cost of 165 200 000 $, invested in medical cannabis. What would constitute a 11% decrease in total drug consumption in this country.
Big Pharma, a drop of 11% to predict
Researchers are counting on the decline of 11% in the purchase of drugs at the national level. And not only in states where medical cannabis is approved. According to a calculation based this time on a list of 9 diseases, medical cannabis is totally effective in: chronic pain, post-traumatic stress disorder (PTSD), sleep disorders, anxiety, epilepsy, neuropathological pain, Tourette's syndrome, glaucoma and nausea and vomiting from chemotherapy.
It is estimated that sales of medical cannabis will increase in the treatment of these diseases. Which amounts to 40 billion a year (across the United States) in 2016. And to 44 billion a year in anticipation of 2019. If cannabis replaces 11% of all medicines mentioned that is, more than 4 billion for each disease and a total of $ 18,5 billion up to 2019. (4,41 billion in 2016, 4,55 billion in 2017, 4,7 billion in 2018 and 4.56 billion 2019).
A "drop of water" in the ocean
Nevertheless, and despite the astronomical amount, it seems that it is not very easy for pharmaceutical companies ... Especially for those, whose total sales for all drugs and services amounts to 425 billion in 2015...
"The United States is 35% of the global pharmaceutical market.And this area of activity is the largest drug market in the world. This is an important part of the US economy, "said the CEO and Founder of New Frontier recently. "The effect of medical cannabis seems to be" a drop in the ocean "for the entire pharmaceutical industry," he added.
In countries where medical cannabis is approved, there is evidence of a decrease in the use of 11% of medicines prescription. And if cannabis is approved across the United States, we will begin to see medical cannabis as an alternative or complementary product to drugs.
"However, when the numbers turn around in this sector of the industry, the markets that are considered particularly lucrative for pharmaceutical companies, can hope for major future implications. "
Example with Pfizer
Companies can be compromised above all else, this is the case for the pharmaceutical company Pfizer. Currently focusing on drugs that address health issues such as epilepsy, glaucoma, depression, anxiety and stroke.
The company, which won in 2016, 52,8 billion thanks to the sales of medicines. Thus, it can still absorb the damage caused by medical cannabis ... this to half a billion dollars a year, according to the report. Medical cannabis is just beginning, yet pharmaceutical companies are already shaking ...