October 20th, 2020
Stephen Murphy
As pharmaceutical giants begin to flock to the cannabinoid markets, Prohibition Partners launch their first Pharmaceutical Cannabis Report, providing a deep-dive into the use of cannabinoids in licensed medicine and clinical trials.
The pharmaceutical cannabis industry is currently experiencing rapid growth. Research undertaken as part of The Pharmaceutical Cannabis Report has found that the value of plant-based cannabinoid pharmaceuticals is set to grow by almost 150% between 2020 and 2024 to reach total value sales just shy of US$2 billion.
As Epidiolex was the first drug to gain FDA and EMA approval, it’s expected to drive most of the growth throughout the review period. However, the evidence base for the use of dronabinol for pain and Sativex for spasticity in M.S. is building all the time. Sativex is currently at stage III trials in the US for spasticity, and subsequent approval from the FDA would add substantially to the above projections.
One of the most exciting developments in the pharmaceutical cannabinoid space is the race to create commercially-scalable synthetic cannabinoids. Prohibition Partners recently reported that one of the major players in synthetic cannabinoids; Corbus Pharmaceuticals, took a large hit as two of their main therapeutic candidates failed in late-stage clinical trials.
Despite this, synthetic cannabinoids are still poised for explosive growth. The group Hyasynth announced last month the first-ever bulk sale of biosynthetically produced CBD. As explored in The Pharmaceutical Cannabis Report, the synthesis of CBD allows for precise and pure products to be manufactured easily, and circumvents the lengthy and costly growing process.
Large pharmaceutical firms are currently flocking to the pharmaceutical cannabinoid space. While cannabis has historically been a taboo subject, pharmaceutical firms are now opening up to the potential of leveraging the plant and derived compounds to treat a range of conditions.
Earlier this month, one of the largest pharmaceutical firms in Europe, STADA, took a seat at the table by announcing an exclusive supply partnership with cannabis firm Medipharm. Under the new partnership, Medipharm will supply GMP certified medical cannabis for STADA who will begin to market-derived products in Germany and then to other European territories.
In recent years we have seen other major pharmaceutical players enter the cannabis industry such as Novartis, Sanofi and Teva Pharmaceuticals. These projects underline the excitement and financial backing which is building behind this new class of medications.
Why the interest from pharmaceutical firms?
Currently, over 192 million people consume cannabis each year, and according to Prohibition Partners’ polling of people across three continents; around 25% of this use is at least partly for medicinal purposes.
The result is a massive demand for medicinal cannabis products, not currently being met. As more and more countries join the march towards full medical legalisation, there will be an unprecedented opportunity to supply cannabinoid medications, and undoubtedly there will be a market segment for medicines produced with the precision and consistency the pharmaceutical industry is known for.
The list of medical conditions for which cannabinoids could be an effective treatment is growing each year and includes some of the most prevalent conditions in the world, such as chronic pain.
The Pharmaceutical Cannabis Report from Prohibition Partners examines the role that pharmaceutical cannabinoids are playing in the emerging cannabis industry and what this will mean for healthcare in the very near future.
Included in the report is:
- A deep dive into the current major cannabinoid pharmaceuticals
- Analysis of global approvals and indications of key medicines like Epidiolex®, Sativex®, Cesamet® and dronabinol.
- Analysis of current and future patient populations.
- Projections on sales figures for each medicine and region of interest.
Market landscape analysis Including:
- The pharmaceutical projects of all major cannabis companies including a study of their on-going clinical trials such as GW Pharmaceuticals, Tilray, Aurora and Canopy Growth.
- The involvement of major pharmaceutical companies such as Novartis and Sandos and what this means for the industry.
- A look at the major developments in the race to create commercially viable synthetic cannabinoids.
This report compiles all the latest data and insights into the pharmaceutical side of the cannabis industry. Leveraging extensive research and expert interviews, financial modelling and forecast as well as Prohibition Partners own polling of thousands of people across Europe, North America and Asia. This cutting edge information gives readers a comprehensive understanding of how natural and synthetic cannabinoids are going to shape the pharmaceutical industry of the near future.
