23536
Bluelight Crew
Though it may not be politically correct to talk about the benefits of legalizing marijuana, the bottom line is that many folks are believers in the power of pot as a medication. And those believers include Big Pharma executives looking to boost their bottom lines.
Consider that medical marijuana sales in the U.S. already will reach $1.7 billion this year, with nearly $250 million coming from Colorado, according to a report released in March. Further, the report predicts that medical marijuana sales will reach $8.9 billion if 20 more states allow its sale for medical use.
If the U.S. government ever legalizes marijuana, sales would probably make the $11 billion Pfizer (PFE) raked in on Lipitor worldwide last year look like chump change.
Medical marijuana markets currently exist in Colorado and six other states and will open this year in five more. But that’s just the tip of the iceberg. If people could use marijuana nationwide without the fear of getting busted, some industry observers say, the market would likely be in the $10 billion to $40 billion range and could even top $100 billion annually.
Given the dollars at stake, it’s easy to see why Big Pharma wants in on the action. And recent developments indicate that soon they may be competing with your friendly neighborhood pot dealer.
Just last week, the Drug Enforcement Administration said 55 unnamed companies have been granted licenses to grow cannabis in the United States. Observers say the pharmaceutical companies need the pot farms to cultivate weed so they can produce a generic version of the THC pill Marinol, which is marketed by Watson Pharmaceuticals, Inc. (WPI ), and at least one other cannabis-based pill for a wide variety of new uses.
full: http://money.msn.com/top-stocks/post.aspx?post=44407b1b-e13c-43f3-8ac4-1b01edebbea5
Consider that medical marijuana sales in the U.S. already will reach $1.7 billion this year, with nearly $250 million coming from Colorado, according to a report released in March. Further, the report predicts that medical marijuana sales will reach $8.9 billion if 20 more states allow its sale for medical use.
If the U.S. government ever legalizes marijuana, sales would probably make the $11 billion Pfizer (PFE) raked in on Lipitor worldwide last year look like chump change.
Medical marijuana markets currently exist in Colorado and six other states and will open this year in five more. But that’s just the tip of the iceberg. If people could use marijuana nationwide without the fear of getting busted, some industry observers say, the market would likely be in the $10 billion to $40 billion range and could even top $100 billion annually.
Given the dollars at stake, it’s easy to see why Big Pharma wants in on the action. And recent developments indicate that soon they may be competing with your friendly neighborhood pot dealer.
Just last week, the Drug Enforcement Administration said 55 unnamed companies have been granted licenses to grow cannabis in the United States. Observers say the pharmaceutical companies need the pot farms to cultivate weed so they can produce a generic version of the THC pill Marinol, which is marketed by Watson Pharmaceuticals, Inc. (WPI ), and at least one other cannabis-based pill for a wide variety of new uses.
full: http://money.msn.com/top-stocks/post.aspx?post=44407b1b-e13c-43f3-8ac4-1b01edebbea5
