As legal cannabis transforms North America, a number of major industries are beginning to develop their own strategies for new potential products and services.
In the medical cannabis space, major pharmaceutical companies are collecting a growing body of evidence that suggests cannabis has a number of medical benefits. As big pharma begins to enter the cannabis industry, there is significant potential for top pharmaceutical companies to work together with stakeholders within the industry to develop cannabis-based medicines and treatments.
Research collected by CB2 Insights (CSE:CBII,OTCQB:CBIIF) indicates that cannabidiol (CBD) could be useful in treating a number of medical conditions, including epilepsy, multiple sclerosis, schizophrenia, migraines and arthritis. There are currently almost 400 active medical trials involving CBD around the world, with a number of major American companies like Pfizer (NYSE:PFE) and GW Pharmaceuticals (NASDAQ:GWPH) getting involved.
According to CB2 Insights, legal cannabis in the United States could save approximately US$1.1 billion on Medicaid prescriptions each year. The company believes the availability of clinical evidence could provide the missing link between patients, physicians and potential treatments. As major pharmaceutical companies begin to enter the cannabis space, they bring with them the medical data necessary to make informed healthcare decisions moving forward.
Click the image below to view the full Visual Capitalist infographic, sponsored by CB2 Insights (CSE:CBII,OTCQB:CBIIF), to learn more about the role pharmaceutical companies are taking in the legal cannabis space.
This infographic was created according to INN editorial standards to educate investors.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.