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Reasons Why Marijuana Is Still Banned

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The Cannabis industry has been growing rapidly and since the election period in 2016, there has been a lot of noise about the use of marijuana products. For several years, the Pharmaceutical industry has been making huge profits especially from the medical prescriptions that they sell for treatment of various chronic conditions. With the ongoing legalization of marijuana for medical and recreational use, cannabis is becoming a major threat to the pharmaceutical giants.

According to a recent study, weed contributed to a saving of over $165.2 million in the prescription costs spent in 2013. Another study conducted by the Journal of the American Medical Association in 2014 found that the opiate overdoses dropped drastically by about 25% in the states that legalized the medical cannabis compared to the states that prohibited the sale of weed. The study concluded that many people have opted for marijuana to treat their chronic pain rather than use opioid painkillers that come with a wide range of side effects.

One of the major reasons why marijuana is still illegal is because of the barriers that are created by the giant pharmaceutical companies. Most pharmaceutical firms are massive multinational corporations that have efficient working procedures and stable business models. To shift the market into the ‘new’ cannabis business will be like turning the Titanic upside down. In other words, it’s not easy to shift these companies to start adopting another business model.

The pharmaceutical companies are currently busy funding research institutions as well as lobbying heavily towards the federal agencies to constantly put pressure on the ban on the drug. However, the activists in the field of the plant are also working hard to defend the cannabis industry despite the slow pace.

Previous studies have confirmed that marijuana can cure several medical conditions such as anxiety, cancer, epilepsy and much more. Tough the cannabis research has been stagnant for decades; the industry is growing significantly as more companies dive into the field.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of MMJReporter.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure

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