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
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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 Corp29.35 CAD-0.71Rating
GW Pharmaceuticals PLC ADR  
Novartis AG ADR93.45 USD-0.36Rating
Tetra Bio Pharma Inc0.33 CAD0.00
Teva Pharmaceutical Industries Ltd ADR10.29 USD-2.65Rating
Tilray Inc  

About Author

Andrew Willis

Andrew Willis  is Content Editor for Morningstar.ca. Follow him on Twitter @AndrewWillisCDN.

 

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