Back in April this year, Bloomberg published StatsCan’s report on Canada’s cannabis market contributing $8.16B toward their economy. [1] Canada is leading the way in the industry for cannabis legislation and many countries aim to follow suit, especially after governments are beginning to notice the financial benefits.

It’s no real surprise that the cannabis industry has helped the pharmaceutical industry to grow and many pharma giants have already formed strong partnerships with cannabis companies via API (active pharmaceutical ingredient) programs, that will help them develop and distribute medicinal cannabis-based therapies and drugs in legal jurisdictions around the world. [2]

Some people have a lack of trust in what they call “big pharma”. Yet many predict that the road to redemption could be paved with cannabis leaves. [2] This is great news for patients suffering from chronic conditions that can be treated with medicinal cannabis, but who currently don’t have access to medicinal cannabis therapies and treatments.

The pharmaceutical industry as a whole, and especially the largest of those corporations, are now trying to educate and improve public knowledge and demonstrate their confidence in cannabis. What this essentially means for patients is positive clinical outcomes and happy customers, a very welcome shift of opinion towards the pharmaceutical industry. This is supported by the recent announcement of the ‘CanCard’ a new cannabis exemption card will be available to protect medicinal cannabis patients from arrest and legal prosecution in the UK. Over 1 million people in the UK may be eligible for the Cancard through their GPs. The government initiative is supported by the Police Federation, medicinal cannabis, patients, and MPs all over the country. [3]

GW Pharmaceuticals plc, one of the leaders in the pharmaceutical industry, also involved in the development and commercialization of cannabinoid prescription medicines, announces financial results for 2019. Revenue for the quarter ending March 31, 2019 was $39.2 million compared to $3.0 million for the quarter ended March 31, 2018. This was hugely impacted by the legal cannabis industry. [4]

Although many investors have noticed this potential, some are still nervous about investing in something that has been heavily stigmatized for many years. Back in March this year, Motley Fool (private financial and investing advice company) announced that the coronavirus-fueled stock market crash is presenting one of the best opportunities to buy cannabis stocks that you’ll probably ever see despite the current uncertainty, the long-term opportunity for the global cannabis industry is still huge. [5]