David Feldman
@DavidFeldmanEsq
CEO and Co-Founder
Skip Intro Advisors LLC and Feldman Legal Advisors PLLC
New York, NY
Corporate lawyer and consultant, author of four books on finance and entrepreneurship, recognized leader in cannabis advisory and law.
Greetings anonymous. We hear that the likely impact of medical cannabis on big pharma amounts to roughly 1% of their industry sales (e.g. pretty insignificant), but we also hear that they are spending heavily on lobbying efforts against legalizing medical cannabis. I often liken the issue to rechargeable batteries for average home use. When they first came on the scene, the battery companies fought hard against their proliferation, but eventually realized that it was easier to join than fight, and started making their own rechargeable batteries. Most believe that, following federal legalization, big alcohol, tobacco and pharma will enter the industry, instead of continuing to fight to protect much more dangerous opioid and similarly addictive products. But in the meantime yes, it appears they are seeking to delay, limit or prevent the growth and legalization of medical cannabis.
