 Researchers affiliated with California Polytechnic State University and The University of New Mexico published their study this week which showed that the eventual federal legalization of cannabis is projected to cost conventional pharmaceutical companies billions of dollars in reduced drug sales and stock market value.
The researches looked at how big pharma’s stock market returns responded to state cannabis legalization over the past and found definite trends of lower returns, which equaled billions of dollars of loss for pharmaceutical sales. The researchers estimate that full federal legalization will result in a reduction in conventional pharmaceutical sales of nearly 11%. The authors concluded that conventional pharmaceutical manufacturers would be better off investing in the regulated cannabis markets, rather than lobbying against it. After all, it’s better to ride the waves than try to turn back the tide! Comments are closed.
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