Bad News For The Legal Marijuana Movement

Data from GW Pharmaceuticals in its early stage studies has looked promising, and further underlines the potential of cannabinoids for medical purposes. Uncertainty surrounding marijuana’s long-term usage could stymie the sales potential of cannabinoid-based drugs like those being developed by GW Pharmaceuticals, and could certainly dissuade new participants from attempting to develop cannabinoid-based medications. The battle continues but the solution remains the same.

Going forward, the battle between marijuana’s benefits and its risks will continue to be waged until we have enough long-term evidence to make an educated conclusion about its proper medical use. Speaking personally, I’d suggest that momentum still swings toward ongoing medical legalization of the drug, considering that cancer patients and those suffering from chronic pain have experienced benefits from medical marijuana for years, if not more than a decade.

Further, recent abstracts demonstrating the possibility that marijuana could improve the lives of type 2 diabetics and people with brain cancer give me reason to believe we’re going to see a surge in studies exploring the benefits of marijuana in the coming years. However, I do remain extremely skeptical of marijuana stocks in general.

Emotions surrounding marijuana are heightened, and that often means logic isn’t coming into play as much as it should. GW Pharmaceuticals, for example, is valued at $1.4 billion despite only having one approved therapy in overseas markets (Sativex) which, frankly, isn’t selling very well.

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