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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

#121

Post by swayvil »

pm90 wrote: post #59
swayvil wrote: post #44

Here in Illinois they charge huge $ for a license to grow. And they suppress opiates. And promote weed. And the dispensaries are all owned by the usual billionaires. That includes our governor. Weed legalization is a cash-channeling strategy.

This is simply how markets work. Currently the US has so much wealth disparity that billionaires will simply move from monopolizing one industry to another, whenever it becomes legal and lucrative. Ideally, we would have mechanisms that prevent this kind of consolidation to make the market work better.

Yeah, but when you tweak the laws to favor certain investments that ain't quite "how markets work" anymore.

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

#122

Post by munk-a »

dwringer wrote: post #112
munk-a wrote: post #107

Earlier quoted context omitted.

The problem with talking about "giving somebody pills" is that it's extremely imprecise. A coworker of mine was once given a two week script for oxy after they injured their arm, they had two days of serious pain and then just mild soreness - this was an insane over prescription and my friend knew it. They used cannabis to manage their pain for two days and never filled the script. I think a script for two or even th…

I think one problem is people have vastly different thresholds of pain. Somebody else having the same injury might be calling their doctor back begging for a refill because they can barely function. Of course determining how much of that is a medical need versus how much is "the pills talking" is never going to be easy.

That's one of the beautiful things about Cannabis legalization - it provides a non-addictive pain management solution where the pills will talk much less.

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

#123

Post by girishso »

> They found that stock market returns were 1.5-2% lower at 10 days following a cannabis legalization event

10 days? That only affects short term “traders”, can be used as a trading opportunity at most.

I’m interested in long term effects, has legalization affected sales of medicines over 2/3 years?

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

#124

Post by meroes »

yamtaddle wrote: post #61
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.

I've had pain killers prescribed maybe a half-dozen times and the only one for which pot wouldn't have been at least as good was the time I had fairly serious abdominal surgery—and even in that case, I'm not 100% sure weed wouldn't have done the job. Plus, they usually prescribe me way more than I want or need—I may take one or two pills, and they prescribe me six or eight or ten—which inflates sales for these compan…

I didn't mean to make the point weed should be substituted for opioids. But all of weed's symptoms are a proper subset of all of opioid's. Less powerful but less addicting and harmful to simplify.

And that alone means we should be able to prescribe weed where appropriate.

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

#125

Post by noptd »

munificent wrote: post #98
mod wrote: post #87

Earlier quoted context omitted.

I was about 21, they prescribed 24 pills I think? I used one, and really just a preemptive use before I went to work (I only took a half day off). The weird thing is, though, I felt very normal at work. I had never tried a drug, so I wasn't sure what to look for, but I just felt normal. No pain, no other effects. I have some from a dentist thing last year, too, and I would say similar now, but with a mild high. I was…

> I just felt normal. No pain, no other effects. Reminds me of this excellent comment from Reddit about what heroin is like: --- Actually this is an obvious question but it's not what you might think. Let me explain it to you, I've been an opiate addict for a long time and tried many drugs. Drugs that are 'uppers' have the most 'obvious' euphoria. For example if you take adderall/coke/meth/speed/MDMA you will get thi…

Honestly that reads like a creative writing exercise given the amount of inaccuracies in that rose-colored description.

I'd recommend anyone reading take that with a large grain of salt.

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

#126

Post by suoduandao2 »

gruez wrote: post #31
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.

Cable news may be a bad example if we're talking about positive value delivered to society. But how much of the health benefits from modern sanitation are modern pharmaceuticals taking credit for? It seems an unreliable value proposition, particularly given how many new medications study-shop when comparing against existing ones.

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

#127

Post by SmileyJames »

treeman79 wrote: post #99
jnovek wrote: post #66

Earlier quoted context omitted.

They’re not completely useless, but I agree that we overprescribe them. I had a kidney stone with complications that required three procedures to take care of. The only thing that would touch that pain was opioids. It was a miserable experience and, thanks to the opioids, I essentially have a four-month hole in my memory. They made me nauseous, dizzy and cognitively useless. I had to titrate off of them because I had…

Have a mix of nerve pain and a number of kidney stones. A bad kidney stone will leave you suicidal after awhile. Tramadol was only thing that go me through those. Nerve pain is harder as it’s long term. Never as bad as a kidney stone. But it is it something you can live with indefinitely. Tramadol works. But then you get long term addiction. I would stop for a month every few months just to detox some. Eventually I d…

https://en.m.wikipedia.org/wiki/Low-dose_naltrexone

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

#128

Post by dec0dedab0de »

suoduandao2 wrote: post #116
drspock11 wrote: post #94

Correlation is not causation. The fact that drug companies stocks declined may have something to do with cannabis legalization or nothing to do with cannabis legalization.

Do you have an alternate theory to explain the correlation?

Maybe people sold stock to buy weed legally?

I was joking, but now I'm curious how many people selling one share would be enough to influence the price.

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

#129

Post by MontyCarloHall »

munificent wrote: post #98
mod wrote: post #87

Earlier quoted context omitted.

I was about 21, they prescribed 24 pills I think? I used one, and really just a preemptive use before I went to work (I only took a half day off). The weird thing is, though, I felt very normal at work. I had never tried a drug, so I wasn't sure what to look for, but I just felt normal. No pain, no other effects. I have some from a dentist thing last year, too, and I would say similar now, but with a mild high. I was…

> I just felt normal. No pain, no other effects. Reminds me of this excellent comment from Reddit about what heroin is like: --- Actually this is an obvious question but it's not what you might think. Let me explain it to you, I've been an opiate addict for a long time and tried many drugs. Drugs that are 'uppers' have the most 'obvious' euphoria. For example if you take adderall/coke/meth/speed/MDMA you will get thi…

So if you are miserable, opiates will make you feel content. Not euphoric, but merely content, normal. But if you already feel content, opiates will not make you feel much different.

That’s sad if true. Opiate users are not chasing a high, they’re merely chasing a normal.

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

#130

Post by GeekyBear »

cantSpellSober wrote: post #84

Do people replace opioids with cannabis?

>States with medical marijuana laws had a 24.8 percent lower average annual opioid overdose death rate compared to states without such laws. In 2010, that translated to about 1,729 fewer deaths than expected. The years after implementation of medical marijuana laws also were associated with lower overdose death rates that generally got stronger over time: year 1 (-19.9 percent), year 2 (-25.2 percent), year 3 (-23.6 percent), year 4 (-20.2 percent), year 5 (-33.7 percent) and year 6 (-33.3 percent).

https://media.jamanetwork.com/news-item/lower-opioid-overdos...

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