Tag Archives | Medical Marijuana Market

Will Big Pharma Take Over The American Market For Medical Marijuana?

MedMarjIf the hundreds of uses for cannabis doesn’t plead the case for its legalization, the money made from its medical industry just might do it. The Washington Independent reports:

The American Independent has previously reported on the growing corporatization of the incipient medical marijuana industry at a time when medical marijuana dispensaries scrabble to hold on to their businesses in the face of a multi-pronged federal crackdown. But there are signs afoot that it just may become ever more corporate if a Big Pharma push to get the U.S. Food and Drug Administration to recognize a cannabis-derived drug is successful.

Last week, British prescription drug manufacturer GW Pharmaceuticals announced a licensing agreement with drug giant Novartis, maker of Ritalin and Excedrin, to begin selling GW’s drug Sativex in markets across Asia, Africa, Oceania and the Middle East. The medication is already available in Britain, where it’s produced and marketed by Bayer, and in Canada and Spain.

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Medical Marijuana Is Now A $1.7 Billion Market

MMS

Medical Marijuana shop in Denver, Colorado. Photo: O'Dea (CC)

The medical marijuana market has had a significant growth this year. With seven states who have opened shop and five more states planned to approve medical marijuana outlets this year, cannabis could save many states’ economies. Medical News Today reports:

Medical marijuana is now a serious $1.7 billion dollar market, according to a new report released this week by an independent financial analysis firm that specializes in new and unique markets. Currently, 24.8 million people are eligible to receive a recommendation and purchase marijuana legally under state laws, and approximately 730,000 people actually do.

Ted Rose, editor of the new State of the Medical Marijuana Market 2011 report, comments:

“Medical marijuana markets are rapidly growing across the country and will reach $1.7 billion this year. We undertook this effort because we noticed a dearth of reliable market information about this politically charged business.

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