Why Big Pharma is Scared of the CBD Oil Industry
The pharmaceutical industry was worth an estimated $446 billion in 2016. Naturally, anything that threatens a pharmaceutical company’s profit is sternly opposed by drug manufacturers, who stand to lose big if people switch to CBD hemp oil. Here are just a few reasons the promise of CBD oil has Big Pharma running scared.
Fewer Prescriptions Written
Nearly 11% of all American adults take some form of antidepressant medication. Statistics show that the number of antidepressant prescriptions is much lower in states where medical marijuana is legal. Although medical marijuana is legal in only a handful of states, CBD oil is authorized in many others. CBD oil produces many of the same effects without the associated “high” that comes from THC, an active ingredient in marijuana.
In addition to fewer antidepressants, doctors in medical marijuana states are also writing fewer scripts for seizures, nausea, and pain. In fact, CBD hemp oil is often the preferred medication for patients who suffer from more than one health condition. As more people become aware of the benefits, the number of patients relying on conventional prescriptions will continue to decrease.
Greater Awareness by Consumers
Doctors alone are not responsible for the surge in CBD oil use. Thanks to the Internet, more and more people are learning the dangers associated with many prescription medications. Patients are now realizing that conventional prescriptions all come with negative side effects that can be avoided by choosing natural remedies instead. These individuals are overwhelmingly deciding to go with safer alternatives that do not produce the type of side effects as many pharmaceuticals.
Loss of Control
Greater education has led to more people becoming comfortable with the idea of using CBD oil. As such, it is becoming harder for pharmaceutical companies to instill fear about its use. Some manufacturers may see this as a loss of control, which is another reason they are so frightened.
Another area drug makers have no control over is farming. CBD oil can easily be extracted from hemp, which is legal to grow in many areas. This means that sophisticated, expensive laboratories are no longer needed.
Lobbyists in Action
Recognizing the potential, at least one pharmaceutical company is attempting to manipulate the market. GW Pharmaceuticals has now applied for cannabinoid drug patents to treat everything from epilepsy to multiple sclerosis. Some feel this is an attempt by the pharmaceutical industry to monopolize cannabis treatments.
Many even believe the FDA and Big Pharma are in cahoots to ensure that drug manufacturers remain in control. The speculation became even more widespread after GW Pharmaceuticals recently lobbied South Dakota lawmakers to declassify CBD products only if they were FDA approved. Should such a bill pass, it would create a virtual monopoly, leaving many independent dealers unable to sell.
There’s no doubt about it-the endless possibilities associated with CBD oil have Big Pharma shaking in their boots. Here’s to hoping that this product can positively impact lives without being completely overtaken by an industry that often prefers profit over people.
