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Cannabis legalization decreases stock market value of major pharmaceutical firms

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Re: Cannabis legalization decreases stock market value of major pharmaceutical firms

#11
post #6

Yay. Recreational marijauna user here and opioids scare the crap out of me. Had to take 10 oxycodone after a surgery and if they can hand those out they can hand out marijauna capsules or whatever. It's really that simple.

Are opioids really making that much money?

Most of what is prescribed are generics and they're not expensive.

Re: Cannabis legalization decreases stock market value of major pharmaceutical firms

#12

Earlier quoted context omitted.

I wonder what the data is on changes in alcohol sales and/or alcohol revenue at bars/restaurants.

I think a lot more people would switch to weed if: 1) You couldn't get a DUI at T+1-2 days after smoking. Many states including my own, merely need to show marijuana metabolites in your blood to convict for DUI. 2) Gun rights. You're staring down the barrel of 5+ years in jail of the feds find you in possession of weed with a firearm, even if pot is legal in your state. Until those two things are fixed, anyone who de…

And if you have any record of use, even a medical marijuana card, you are prohibited from purchasing a firearm.

Re: Cannabis legalization decreases stock market value of major pharmaceutical firms

#13
post #6

Yay. Recreational marijauna user here and opioids scare the crap out of me. Had to take 10 oxycodone after a surgery and if they can hand those out they can hand out marijauna capsules or whatever. It's really that simple.

Are opioids really making that much money? Most of what is prescribed are generics and they're not expensive.

Don’t worry they are literally prescribing billions of them. It adds up to enough money for everybody (at the top).

Re: Cannabis legalization decreases stock market value of major pharmaceutical firms

#14

Earlier quoted context omitted.

I wonder what the data is on changes in alcohol sales and/or alcohol revenue at bars/restaurants.

I think a lot more people would switch to weed if: 1) You couldn't get a DUI at T+1-2 days after smoking. Many states including my own, merely need to show marijuana metabolites in your blood to convict for DUI. 2) Gun rights. You're staring down the barrel of 5+ years in jail of the feds find you in possession of weed with a firearm, even if pot is legal in your state. Until those two things are fixed, anyone who de…

Interesting, thanks for the additional information. I assume it will take 60 votes in the US Senate to get moving on #2, so alcohol businesses have no reason to worry.

Re: Cannabis legalization decreases stock market value of major pharmaceutical firms

#15

Earlier quoted context omitted.

I wonder what the data is on changes in alcohol sales and/or alcohol revenue at bars/restaurants.

I think a lot more people would switch to weed if: 1) You couldn't get a DUI at T+1-2 days after smoking. Many states including my own, merely need to show marijuana metabolites in your blood to convict for DUI. 2) Gun rights. You're staring down the barrel of 5+ years in jail of the feds find you in possession of weed with a firearm, even if pot is legal in your state. Until those two things are fixed, anyone who de…

While those are of course valid concerns, I don't think it even enters into the decision making process for most when considering booze vs weed in a state with legal dispensaries. The likelihood of either of these happening in states like CA or WA is just so incredibly low that I don't think either of them is stopping all that many who might consider it today. I think there are far stronger cultural forces at play in terms of why people drink or smoke weed rather than concerns about the above.

You also still can't buy and consume weed in a bar/cafe style setting as you can booze either anywhere in the US AFAIK, which will also play a large part in this. Drinking alcohol can be a social activity in a bar, and of course booze can be bought in supermarkets etc etc.

Re: Cannabis legalization decreases stock market value of major pharmaceutical firms

#16
post #12

Earlier quoted context omitted.

I think a lot more people would switch to weed if: 1) You couldn't get a DUI at T+1-2 days after smoking. Many states including my own, merely need to show marijuana metabolites in your blood to convict for DUI. 2) Gun rights. You're staring down the barrel of 5+ years in jail of the feds find you in possession of weed with a firearm, even if pot is legal in your state. Until those two things are fixed, anyone who de…

And if you have any record of use, even a medical marijuana card, you are prohibited from purchasing a firearm.

Are you sure this is true? I was under the impression you can buy firearms legally without background checks at all in much of the USA

Re: Cannabis legalization decreases stock market value of major pharmaceutical firms

#17
post #5
post #2

States where marijuana is legal have lower incidence of opioid use.

Correlation is not causation. There are many, many reasons why opioids are used.

On top of that, this is speculative correlation - they're studying that that stock dropped 1-2% after a legalization event because traders are speculating that there will be lower returns.

Re: Cannabis legalization decreases stock market value of major pharmaceutical firms

#18

Earlier quoted context omitted.

I think a lot more people would switch to weed if: 1) You couldn't get a DUI at T+1-2 days after smoking. Many states including my own, merely need to show marijuana metabolites in your blood to convict for DUI. 2) Gun rights. You're staring down the barrel of 5+ years in jail of the feds find you in possession of weed with a firearm, even if pot is legal in your state. Until those two things are fixed, anyone who de…

Interesting, thanks for the additional information. I assume it will take 60 votes in the US Senate to get moving on #2, so alcohol businesses have no reason to worry.

IANAL, but I think DEA can remove cannabis from scheduling without congress.

Re: Cannabis legalization decreases stock market value of major pharmaceutical firms

#19
Thank goodness we had this whole covid thing to prop up these poor pharma companies, a subset of whose yearly profit of $35B dwarfs the revenue of entire sectors of our economy. (Cable news: less than $6B revenue.)

https://www.oxfam.org/en/press-releases/pfizer-biontech-and-...

Re: Cannabis legalization decreases stock market value of major pharmaceutical firms

#20

Earlier quoted context omitted.

Are opioids really making that much money? Most of what is prescribed are generics and they're not expensive.

Don’t worry they are literally prescribing billions of them. It adds up to enough money for everybody (at the top).

But 30 generic percoset, for example, looks to cost about $14 locally where one struggles to pay less than that at lunch outside McDonalds. Doesn't really seem like a cash cow.
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