The total value of the global pharma industry was set at $1.11 trillion last year and is projected to hit $1.43 trillion by 2020, with the share of the United States to be $341Bn.
With that type of financial power, if any of those businesses are willing to, they could even out the cannabis industry & take over the operations of medical cannabis all over the world. While the industry insiders discuss that happening, so far the position of cannabis in the US as a Schedule 1 substance is too much of a barrier to overcome. Pharma firms are under enough inspection without inviting more.
The only exception is Canada. 7 out of Canada’s top 10 cannabis patent holders are mainly multi-national pharma firms, according to a joint research project by London-based cannabis biotechnology firm, Grow Biotech & Washington D.C.-based New Frontier Data.
Those firms include Pfizer Products in the United States with 14, Ciba-Geigy AG in Switzerland with 21 patents; and Telefonaktiebolaget LM Ericsson in Sweden with 13.
Sandoz Canada, part of the global leader in generic pharmaceuticals based in Germany, was the first pharma in Canada to enter the medical cannabis field. Tilray & Sandoz have co-branded medical cannabis products, inclusive of 3 different doses of capsules & 5 different doses of ingestible oils with a combination of CBD and THC. The main purpose of Sandoz Canada is to discover novel ways to improve and extend people’s lives.
Merck Sharp & Dohme Corporation, the world’s 4th largest pharmaceutical firm, has 11 cannabis-related patents, and made an announcement recently that an alliance to pursue collaborations with Intec Pharma Ltd., which is a clinical-stage biopharma firm which has developed a propriety oral drug delivery system for delivery of THC and CBD in the treatment of pain.