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Is CBD a threat to the Pharmaceutical industry?
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Cannabis and cannabidiol (or CBD) are no longer the topic of unconventional or avant-garde conversations in the pharmaceutical industry. In fact, CBD is today a topic that is being discussed by individuals at every level in medicine.
One year ago, the most common questions we were asked by clients were; “Is it safe?”; “What is CBD?”; “Is it legal?”. Today the commonest question is “How do we implement this in our products most efficiently?”
Cannabis and cannabidiol (or CBD) are no longer the topic of unconventional or avant-garde conversations in the pharmaceutical industry. In fact, CBD is today a topic that is being discussed by individuals at every level in medicine.
One year ago, the most common questions we were asked by clients were; “Is it safe?”; “What is CBD?”; “Is it legal?”. Today the commonest question is “How do we implement this in our products most efficiently?”
It’s not going away anytime in our lifetimes – in fact it going to become even more of a prominent theme. To put it in perspective the pharmaceutical industry in the United Kingdom is projected to hit £33 billion by 2020 1. and the CBD sector will be £1.6 billion. 2
That is 4.8% of the entire industry poured into a product that has been in the public eye for barely 2 years!
In almost every US state where cannabis has been legalised and CBD consumption normalised there has been a drop in opioid related deaths.
That is 4.8% of the entire industry poured into a product that has been in the public eye for barely 2 years!
The biggest loser in this CBD revolution, the ‘green rush’, we believe will be synthetic opioids.
The two most common reasons for opioid prescription are chronic pain and arthritic pain. 3
Likewise, the two most common reasons people use CBD are (I’m sure you can guess by now) …. chronic pain and arthritic pain. 4
This is enormously significant.
In almost every US state where cannabis has been legalised and CBD consumption normalised there has been a drop in opioid related deaths.
CBD does not remove the need for vaccines, diabetes medications, beta blockers and so on.
It does however present the opportunity to remove the need for opiates. As the public becomes aware of a less harmful, less addictive, healthier and natural alternative to opiates, aren’t they more likely to take it?
In almost every US state where cannabis has been legalised and CBD consumption normalised there has been a drop in opioid related deaths.
In one such study that compared US states between 1999 – 2010, it was found that there was a 25% decrease in opioid related mortalities in the states that has legalised cannabis. 5
In almost every US state where cannabis has been legalised and CBD consumption normalised there has been a drop in opioid related deaths.
CBD does not remove the need for vaccines, diabetes medications, beta blockers and so on.
It does however present the opportunity to remove the need for opiates. As the public becomes aware of a less harmful, less addictive, healthier and natural alternative to opiates, aren’t they more likely to take it?
In almost every US state where cannabis has been legalised and CBD consumption normalised there has been a drop in opioid related deaths.
In one such study that compared US states between 1999 – 2010, it was found that there was a 25% decrease in opioid related mortalities in the states that has legalised cannabis. 5
Another study that looked at opioid abuse found a 44% decrease in consumption after subjects were given access to medical cannabis and CBD. 6
So far this doesn’t seem very threatening. In fact, if approached well this could be a revolution for the industry as more and more of the public look for an alternative to the ‘pill for any problem’ culture in modern medicine.
Cannabis, hemp and CBD in particular seem to operate in the perfect middle ground between holistic and conventional medicine. Perhaps offering an opportunity for conventional medicine to regain the confidence of millions who have started to look elsewhere for their health care.
Where the threat lies, in our opinion, is in the fact that CBD unlike many conventional medicines lends itself very well to almost any product it is put inside. Soaps, cosmetics, foods, workout supplements and so on. Meaning as more of the public continue to look for the alternative, they will begin to find it away from the high street pharmacy.
The pharmaceutical industry must act fast if it wants to be a guiding force in the world of cannabis and CBD. People in Britain are turning to CBD at a spectacular rate. Most estimates put the figure at around 350 new CBD customers per day in the United Kingdom alone. 7 By offering these people an avenue to access safe and legitimate cannabis products (rather than sending them elsewhere) pharmacies all over the United Kingdom could stand benefit massively from the ‘green rush’.
Where the threat lies, in our opinion, is in the fact that CBD unlike many conventional medicines lends itself very well to almost any product it is put inside. Soaps, cosmetics, foods, workout supplements and so on. Meaning as more of the public continue to look for the alternative, they will begin to find it away from the high street pharmacy.
The pharmaceutical industry must act fast if it wants to be a guiding force in the world of cannabis and CBD. People in Britain are turning to CBD at a spectacular rate. Most estimates put the figure at around 350 new CBD customers per day in the United Kingdom alone. 7 By offering these people an avenue to access safe and legitimate cannabis products (rather than sending them elsewhere) pharmacies all over the United Kingdom could stand benefit massively from the ‘green rush’.
Refs:
Globaldata.com. (2018) – https://www.globaldata.com/store/report/gdhc0053chr–countryfocus-healthcare-regulatory-and-reimbursement-landscape-uk/#.VtlnbECyXkc
Daniel, E., Daniel, E. and Daniel, E (2018) – https://www.verdict.co.uk/uk-cbd-use/
Drugabuse.gov. (2018) – https://www.drugabuse.gov/publications/drugfacts/prescription-opioids
Jamie Corroon and Joy A. Phillips (2018) – https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6043845/
Bachhuber, M., Saloner, B., Cunningham, C. and Barry, C. (2014) – https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4392651/.
Projectcbd.org. (2019) – https://www.projectcbd.org/medicine/americas-opiate-crisis-how-medical-cannabis-can-help.
The Independent. (2018) – https://www.independent.co.uk/news/long_reads/cannabis-products-cbd-oil-marijuana-weed-legalisation-millennials-trend-a8675691.html
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