Actionable news
All posts from Actionable news
Actionable news in GWPH: GW Pharmaceuticals Plc,

Why Big Pharma May Push Back Against Legal Marijuana

Why Big Pharma May Push Back Against Legal Marijuana - GW Pharma NASDAQ:GWPH, AEROGROW INTL INC AERO

As California gears up to vote to legalize marijuana for the second time this November, major pharmaceutical companies may try to stop the bill from passing.

A new study published in Health Affairs, shows that painkiller abuse and overdoses are lower in states where medical marijuana is available.

The study found that in the 17 states where medical marijuana use is permitted, prescriptions for painkillers and other drug classes were significantly lower than in the states where it was not available.

Source: Washington Post

A typical physician in a medical marijuana state prescribed 1,826 fewer doses of painkillers in a given year. Fewer prescriptions means cost savings for Medicare — in total, a reported $165 in the states where medical marijuana is available.

This has come as a concern for pharmaceutical companies, which are among the leaders of the opposition toward the liberalization of marijuana laws. Big Pharma has funded anti-marijuana organizations, such as the Community Anti-Drug Coalitions of America, and have lobbied federal agencies directly to limit the proliferation of the drug.

Did you like this article? Could it have been improved? Please email to let us know!

© 2016 Benzinga does not provide investment advice. All rights reserved.