Is cannabis Big Pharma’s latest drug?

With the medical marijuana market expected to hit US$ 40 billion by 2024, and the potential for cannabis compounds to displace opiates, traditional drugmakers are betting big on weed

Andrew Willis 14 March, 2019 | 5:00PM

For much of 2018, cannabis has been in the spotlight. And so has Big Pharma. But what about Big Pharma in Cannabis? Are there - investable - medical miracles coming out of this combination of conventional and herbal medicine?

With the lead-up to legalization in Canada in October last year, the smell of profit was in the air as cannabis cultivator stocks soared and caught the attention of a variety of established industries – among them, pharmaceuticals.

“There’s more harmony here”, says Steeve Néron, Senior Vice President, Marketing & Medical Affairs at Tetra Bio-Pharma (TBP), a Canadian pharmaceutical company dedicated to cannabinoid-based drug discovery. The legality of cannabis in Canada creates clarity at a federal level not possible in the U.S., where individual states are separately leading legalization reforms.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar Rating
Canopy Growth Corp23.66 CAD8.14
GW Pharmaceuticals PLC ADR127.90 USD-0.16
Insys Therapeutics Inc  
Novartis AG ADR87.01 USD-0.38
Tetra Bio Pharma Inc0.20 CAD-2.44
Teva Pharmaceutical Industries Ltd ADR11.76 USD1.29
Tilray Inc8.01 USD8.10

About Author

Andrew Willis

Andrew Willis  Andrew Willis is a content editor for Morningstar.ca.

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