Big Pharma Losing Money As Patients Switch From Opioids To Cannabis

Cannabis is helping chronic patients, resulting in Big Pharma losing money.

The news that cannabis is effective in treating most types of pain is shaking business and political constitutions. Politicians and investors must come to grips with Big Pharma losing money due to the rise of cannabis. The findings could have huge consequences for medical practice and public policy. For example, cannabis could reduce the number of accidental overdoses and providing avenues for critically ill patients to re-enter the workforce. This is according to a study which took place in the University of California, Berkeley, and was published in the journal Cannabis and Cannabinoid Research (2017).

What the Research Shows About Patients Switching ti Cannabis

The study addressed the theory that medical cannabis could be used as a substitute for opioid-based pain relievers. To do so, researchers surveyed 2,897 medical cannabis patients about their experience with green therapy and how it impacted their pain and lives.
It found that 97% of respondents said cannabis worked very well. So well, they were able to decrease their opioid intake. 92% said they preferred consuming cannabis to popping opioid pills. Another 93% said they would prefer consuming cannabis to other medication if it were medically available to them.
That’s a strong response which ultimately results in Big Pharma losing money. More findings include other staggering figures. For instance, 81% of respondents to the study testified that consuming cannabis alone was better for pain than combining cannabis and opioids together.

Fewer Opioid Prescriptions Means Big Pharma Losing Money

Drug companies should be fearful of cannabis. That’s bad for political prospects of cannabis legalization, but great news for medical patients. The only thing that’s preventing Big Pharma from losing even more money is the legal status of medical cannabis in so many areas of the country.
An analysis by New Frontier Data (2017) estimates that cannabis could replace up to $4.9 billion worth of prescription medications in 2016 if it were legal across the U.S.. That figure addresses the consuming of cannabis for conditions beyond pain, including nine issues that cannabis have been proven to treat effectively. Conditions like PTSD, sleep disorders, anxiety, epilepsy, nausea, and glaucoma.

How Cannabis can Help

There is a bright spot in all this bad news about opioid addiction and death. A study published in the journal of the American Medical Association(2014), found that states that passed medical cannabis laws had significantly lower numbers of opioid-related deaths.
So not only do patients prefer cannabis over opioids when given the option, that choice also results in fewer deaths. Public policy circles call that a win-win situation.
The study also found patients enrolled in Medicare part D needed far fewer prescriptions after medical cannabis laws were passed. Such laws led to an average reduction of 1,826 daily of opioid-based painkillers annually per physician. That’s another way to show Big Pharma will lose a lot of money if access to the the legalization of medicinal cannabis spreads.

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