Big Pharma’s Behind-the-Scenes Fight Against Cannabis
November 4th, 2014
Policy, Top Story
Oxycodone and hydrocodone misuse caused 16,652 deaths in 2010 alone, with about 11 million people consuming at least one dose of the opioid in a non-medical way, according to the U.S. Department of Health and Human Services. Of course, the same drug has been beneficially used by millions to treat severe acute or chronic pain associated with everything from surgery recovery to palliative care.
According to Drug War Facts, cannabis overdose hasn’t been associated with a single death in the United States, adding that no recorded cases have been found in extensive literature reviews. Cannabis has been shown to be effective in reducing chronic pain, however, in a growing number of scientific studies, which means it’s addressing the same market as many opioid painkillers.
The manufacturers of oxycodone and related painkillers, including Purdue Pharma LP and Pfizer Inc. (NYSE: PFE), are prominent members of the Community Anti-Drug Coalition of American (“CADCA”) to fight painkiller abuse. Interestingly, the CADCA has taken a software approach toward prescription drug abuse – targeting educational campaigns and failing to seek changes in guidelines.
At the same time, the CADCA has become one of the largest contributors to Drug-Free Kids and other anti-marijuana organizations. These organizations take a hardline approach to marijuana, opposing even limited legalization and supporting increased police powers, and their relationships rarely acknowledged in public debates given the pharmaceutical industry’s involvement in politics.
According to a report in The Nation, confidential financial disclosures from the Partnership for Drug-Free Kids showed that the group’s largest donors included Perdue Pharma (the maker of OxyContin) and Abbott Laboratories (NYSE: ABT) (the maker of Vicodin), as well as other companies like Pfizer, Johnson & Johnson (maker of Nucynta) and Alkermes (maker of Zohydrol).
The CADCA’s approach to marijuana legalization contrasts sharply with their approach to prescription drug abuse, according to the report, with a recent letter to Eric Holder calling marijuana among society’s most dangerous drugs with no recognized medical use. These sentiments come despite the fact that numerous studies have been published showing at least potential benefits.
In the end, the cannabis industry’s move towards legalization could be seen as even more impressive given the large amount of money pushing anti-legalization campaigns and society’s already-skeptical view on the drug. The CADCA and other groups could face an even greater uphill battle to protect their prescription drug revenues as more and more studies show the benefits of medical cannabis.
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
About CFN Media Group
CFN Enterprises Inc. (OTCQB: CNFN) owns and operates CFN Media Group, the premier agency and financial media network reaching executives, entrepreneurs and consumers worldwide. Through its proprietary content creation, video library, and distribution via www.CannabisFN.com, CFN has built an extensive database of cannabis interest, assisting many of the world’s largest cannabis firms and CBD brands to build awareness and thrive. For more information, please visit www.cfnenterprisesinc.com.
Disclaimer: Matters discussed on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time-to-time have a position in the securities mentioned herein and will increase or decrease such positions without notice. The Information contains forward-looking statements, i.e. statements or discussions that constitute predictions, expectations, beliefs, plans, estimates, or projections as indicated by such words as "expects", "will", "anticipates", and "estimates"; therefore, you should proceed with extreme caution in relying upon such statements and conduct a full investigation of the Information and the Profiled Issuer as well as any such forward-looking statements. Any forward looking statements we make in the Information are limited to the time period in which they are made, and we do not undertake to update forward looking statements that may change at any time; The Information is presented only as a brief "snapshot" of the Profiled Issuer and should only be used, at most, and if at all, as a starting point for you to conduct a thorough investigation of the Profiled Issuer and its securities and to consult your financial, legal or other adviser(s) and avail yourself of the filings and information that may be accessed at www.sec.gov, www.pinksheets.com, www.otcmarkets.com or other electronic sources, including: (a) reviewing SEC periodic reports (Forms 10-Q and 10-K), reports of material events (Form 8-K), insider reports (Forms 3, 4, 5 and Schedule 13D); (b) reviewing Information and Disclosure Statements and unaudited financial reports filed with the Pink Sheets or www.otcmarkets.com; (c) obtaining and reviewing publicly available information contained in commonlyknown search engines such as Google; and (d) consulting investment guides at www.sec.gov and www.finra.com. You should always be cognizant that the Profiled Issuers may not be current in their reporting obligations with the SEC and OTCMarkets and/or have negative signs at www.otcmarkets.com (See section below titled "Risks Related to the Profiled Issuers, which provides additional information pertaining thereto). For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity-based compensation in the companies it writes about, or a combination of the two. For full disclosure, please visit: https://www.cannabisfn.com/legal-disclaimer/. A short time after we acquire the securities of the foregoing company, we may publish the (favorable) information about the issuer referenced above advising others, including you, to purchase; and while doing so, we may sell the securities we acquired. In addition, a third-party shareholder compensating us may sell his or her shares of the issuer while we are publishing favorable information about the issuer. Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.cannabisfn.com/legal-disclaimer/.