GERMAN PATIENT ROUNDTABLE – Cenedella.de

"Giving voice to the needs of the German Medical Marijuana/Cannabis Patient Community" / Cenedella, Patient Advocate since 1977.

Cannabis Sales Impact Big Pharma Profits

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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

Philip J. Cenedella IV Over the last 4 decades I have been involved in the fight for patient rights in America, and now here in Germany. I have served as a Board of Director for the World Trade Center San Diego, as a Lead Consultant for Deutsche Telekom's Executive Board, Founded the Dayton Human Trafficking Accords and have been a C-Level Business Development Executive in the technology sector. Since 2016 I have been fulltime in the legal medical marijuana industry, helping companies navigate the biggest potential market in the world. This website is light on details due to confidentiality issues, but be rest assured I am knowledgeable and can assist your growth in some way. Consulting Services: Sales and Business Development Assist with Strategic Direction Professionally represent your firm Licensing and compliance Sales and Distribution networks Qualify potential partners I am your resource, on the ground in Europe! 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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