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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

#31

Post by gruez »

jessaustin wrote: post #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-...

>a subset of whose yearly profit of $35B dwarfs the revenue of entire sectors of our economy. (Cable news: less than $6B revenue.)

Is that supposed to be a problem? You can argue that pharama companies are extracting too much profit for what they do, but they certainly deliver more value to society in my mind than cable news.

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

#32

Post by Z_Z »

spaetzleesser wrote: post #8
notch656a wrote: post #3

Cannabis products are a pharmaceutical. You're putting drugs in your body, just a different one.

By that definition everything you eat is a pharmaceutical. Everything you eat has some effect on you.

it's true though, everything you can consume has an effect on you not unlike pharmaceuticals. we just classify them differently. and as a corollary, anyone that can make money off of that effect, will

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

#33

Post by rascul »

giantg2 wrote: post #27
rascul wrote: post #23

Earlier quoted context omitted.

That varies by state

Incorrect, the prohibition is federal. https://www.atf.gov/firearms/docs/open-letter/all-ffls-sept2...

Yes, it's prohibited at the federal level, but the state laws on that vary, and the states are generally the ones doing the enforcement. An example, in Mississippi (http://billstatus.ls.state.ms.us/documents/2022/pdf/SB/2001-...):

> A registered qualifying patient or registered designated caregiver shall not be denied the right to own, purchase or possess a firearm, firearm accessory or ammunition based solely on his or her status as a registered qualifying patient or registered designated caregiver. No state or local agency, municipal or county governing authority shall restrict, revoke, suspend or otherwise infringe upon the right of a person to own, purchase or possess a firearm, firearm accessory or ammunition or any related firearms license or certification based solely on his or her status as a registered qualifying patient or registered designated caregiver.

Edit: By enforcement, I mean that it's not going to be the FBI or the ATF that knocks on your door if it's discovered you have purchased a firearm with a medical marijuana card but the state, county, or municipal police. The feds might go after the store, though.

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

#34

Post by swatcoder »

colechristensen wrote: post #20
encoderer wrote: post #13

Earlier quoted context omitted.

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.

Pretty sure Netflix and Spotify do alright with less than that.

And it’s not even accounting for those premium tier subscriptions that come with trendy new formulations not yet acknowledged as dangerous.

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

#35

Post by nichch »

notch656a wrote: post #7
lotsofpulp wrote: post #4

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…

I wonder how open and shut those DUI cases really are. In Michigan, they’ve recently discovered their THC test would return positive with the presence of CBD.

https://www.mlive.com/public-interest/2022/08/michigan-polic...

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

#37

Post by bsedlm »

colechristensen wrote: post #11
meroes wrote: 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.

that's just how cheap they're to make (once you have the factory setup; which isn't cheap)

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

#38

Post by filoleg »

smm11 wrote: post #2

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

Is it actually the case for major coastal cities/states?

I accept that this might be true, but living in Seattle it surely doesn't feel like it (as long as you count fentanyl as an opioid, because it is one).

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

#39

Post by throwaway0a5e »

notch656a wrote: post #7
lotsofpulp wrote: post #4

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…

1 is only an issue because moral panic gave legislators a blank check to write DUI laws that are so immensely broad they would be opposed in any other context.

2 is only an issue because drugs were a moral panic and people hated weed enough to not argue much when it got tied to their gun rights

Everyone loses when we cater to lemmings going off half cocked about the moral panic of the minute.

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

#40

Post by sleepymoose »

colechristensen wrote: post #20
encoderer wrote: post #13

Earlier quoted context omitted.

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.

This also fails to account for those that demand a specific brand of pill, and will gladly pay more for it. You'd be suprised how large the difference is to an addict when comparing a yellow pill to a white one.
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