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Philman's Pharm: "German Quality, California Ingenuity." Est. 1977

Cannabis Sales Impact Big Pharma Profits

Medical Cannabis Could Take a Big Bite Out of Pharmaceutical Sales

  • Cannabis is an effective treatment for conditions including chronic pain, post-traumatic stress disorder (PTSD), sleep disorders, anxiety, epilepsy, nerve pain, chemotherapy-induced nausea and vomiting, Tourette’s Syndrome, and glaucoma. *
  • Americans spent an estimated $40.1 billion on prescription medications in 2016 to treat these conditions, and expenditures are forecast to grow to more than $44.1 billion by 2019.
  • Three conditions which drove the highest prescription drug expenditures in 2016 were chronic pain ($14.3 billion), PTST ($10.6 billion), and sleep disorders ($6.13 billion).
  • Prescription drug use, most commonly associated with medical cannabis, falls an average of 11% in states with legalized medical cannabis.
  • If medical cannabis use were legalized nationally in 2016, an 11% decline in prescription drug use would have equated to an estimated $4.4 billion in reduced prescription drug spending, and an estimated $4.9 billion in 2019.
  • Between 2016 and 2020, the 11% reduction in prescription drug spending would be a combined $18.5 billion.
  • The impact that cannabis legalization will have on the pharmaceutical industry underscores why pharmaceutical companies have been so strongly opposed to the expansion of legal cannabis.  For example, Insys, maker of the opioid Fentanyl Subsys, funded the 2016 anti-cannabis legalization campaign in Arizona.  Insys’ financial support of the opposition helped defeat the initiative on election day.

* According to the National Academies of Science

https://newfrontierdata.com/marijuana-insights/medical-cannabis-take-big-bite-pharmaceutical-sales/?mc_cid=a09d1b03d0&mc_eid=a66195729a

 

Author: Cenedella.de

Over the last 4 decades I have been involved in the fight for patient rights in America, and now here in Germany. During my career I have served as a Board of Director for the World Trade Center San Diego and as a Lead Consultant for Deutsche Telekom's Executive Board, Co-Founded the San Diego Software Council and the Dayton Human Trafficking Accords and was Director of LawInfo's Lead Council Program. Previously I was a C-Level Business Development Executive in the technology sector, but also involved with the cannabis industry since 1977. More recently I have been fulltime in the legal medical marijuana industry here in Europe, helping international companies navigate the biggest potential market in the world. This website is light on details due to confidentiality issues with clients but be rest assured I am knowledgeable, professional and with street cred in the industry that can immediately assist your growth in some way. Consulting Services: Sales and Business Development Assist with Strategic Direction Professionally represent your firm Special Projects management Licensing and compliance Sales and Distribution networks Qualify potential partners I am your resource on the ground in Europe, contact me directly to schedule an initial discussion on the German Cannabis-as-Medicine market. Thank you, Philip J. Cenedella IV Call +1.888.206.3264 USA +49.0.151.720.17652 GERMANY Skype: philip.j.cenedella eMail: phil@cenedella.de LinkedIN: https://www.linkedin.com/in/cenedellade/

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