Decreases in Opioid Abuse in Legal Marijuana StatesMarijuana Trends & ArticlesMar 14, 2017
In late February, White House press secretary Sean Spicer made an uneducated and informed connection between the opioid addiction crisis we currently face and recreational cannabis.
Spicer said, “There’s a big difference between that and recreational marijuana. I think that when you see the opioid addiction crisis blossoming in so many states around this country, the last thing we should be doing is encouraging people. There is still a federal law we need to abide by in terms of when it comes to recreational marijuana.”
Providing Real Facts…Not the Alternative Kind
In January, the National Academies of Sciences, Engineering and Medicine released a review of 10,000 medical cannabis studies published since 1999. The results strongly support the use of cannabis for the treatment of chronic pain.
In 2014, John Hopkins published a report that found the annual number of deaths from prescription drug overdose is 25% lower than in states where medical marijuana remains illegal.
Several reports actually link the opioid crisis we are currently facing to big pharmaceutical companies that liberally prescribed drugs like Oxycontin and Vicodin.
In late December, Department of Justice said several former employees of Insys Therapeutics (INSY), including its former CEO and president, had been arrested and charged with bribing doctors and defrauding health insurers to push prescriptions of Subsys, a fentanyl sublingual spray that has led to countless overdoses.
Biotech Stocks to Watch
The opioid crisis the United States faces combined with recent breakthroughs in research pertaining to the medical benefits of cannabis have created several attractive opportunities for biotech investors.
Some of the companies investors should be watching Future Farm Technologies Inc. (FFT.CN) (FFRMF), Vinergy (VIN.CN) (VNNYF), and InMed Pharmaceuticals Inc. (IN.CN) (IMLFF).