We now know why Jeff Sessions hates marijuana so much. He is on the big pharmaceuticals payroll and big pharmaceuticals are shaking in their shoes that medical marijuana could be legalized nationally.
Once the federal government finally allows medical marijuana to become a legitimate part of the healthcare industry, Big Pharma could suffer the loss of billions of dollars, a new report finds.
It seems the pharmaceutical trade has more than enough reasons to fear the legalization of marijuana, as an analysis conducted by the folks at New Frontier Data predicts the legal use of cannabis products for ailments ranging from chronic pain to seizures could cost marketers of modern medicine somewhere around $4 billion per year.
Researchers at New Frontier identified nine key areas where medical marijuana will do the most damage to the pharmaceutical market — castrating drug sales for medicines designed to treat anxiety, chronic pain, epilepsy, post-traumatic stress disorder, sleep disorders, nerve pain, chemotherapy-induced nausea and vomiting, Tourette syndrome and glaucoma.
The report specifically calls out drug giant Pfizer Inc, suggesting that medical marijuana could suck a half billion dollars from its $53 billion in annual sales revenue.
It is distinctly possible that the latest report paints an accurate portrait of the impact medical marijuana could have on the pharmaceutical trade — that is, unless the drug manufactures decide to get in on the cannabis business.