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What is CBD?

CBD, an acronym for Cannabidiol, is a chemical compound from the cannabis plant. It is a natural substance that is used world-wide in balms and oils for multiple purposes, but one of its most common purposes is as a form of medication. In an in-depth survey comparing CBD to prescription drugs almost 60% believed to some extent that it was more effective than medication they had regularly tried.

CBD products are becoming increasingly more popular in the market as more and more researchers are discovering the molecules healing effects. Last year the World Health Organisation revealed CBD may help treat symptoms relating to Epilepsy, MS, pain, depression, cancer, diabetes and Parkinsons.

Cannabis legalisation in the UK

CBD itself is legal in the UK as long as there are zero traces of THC. However, any products with even the slightest trace of psychoactive substances are in fact illegal for possession and supply. Despite its legality issues there has been a massive surge in interest towards CBD products with the number of cannabidiol consumers soaring from 125,000 in 2017 to 250,000 in 2018.

From November 1st 2018, the UK has legalised the prescription of medicinal cannabis products to patients for the first time.

But what does CBD mean for the pharmaceutical industry?
Money talks!

In 2017, 6 of the top 15 selling drugs were for the treatment of cancer, whilst the best-selling arthritis drug made quite a sizeable profit to the sum of $18billion. Although this figure is in huge contrast to the current value of cannabis sales at $1.7 billion it is however predicted that in just 3 years the global market will reach figures circa $32 billion. With such expected exponential growth it is evident that CBD has a great potential to threaten the revenue of the pharmaceutical industry especially given that CBD relieves systems that correspond with pharma’s top selling drugs.

Opioid crisis

Throughout countries such as the US and UK, doctors have for many years now, been prescribing highly addictive drugs such as opioid or codeine for chronic pain, and with many realisations that the misuse of drugs such as these has led to multiple deaths it was only a matter of time before large pharmaceutical companies started to experience problems. However with the introduction of CBD as a major player in treating severe pain, we may see even more problems for Big Pharma manufacturers in relation to pain relief medication.

Sativex and collaboration

 Although there are fears relating to CBD and Pharma there are undeniably benefits for both worlds. Sativex is the first cannabis-based treatment to be licensed in the UK for the treatment of MS symptoms and is a perfect example of how CBD and the pharmaceutical industry can work together to provide better treatment for patients. GW Pharmaceuticals who have been developing Sativex for years and have been given licence for use in the UK, are expecting to reach sales of £121million in Europe and Canada alone. And with further research into the use of CBD in treatment for illnesses such as dementia it is clear that collaboration may be the way forward for both CBD and Pharma.

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