The Coming Wave of Cannabis-based Medicines

Cannabis has remained a source of controversy — from debates on its medicinal value and legalization to concerns about dependency. Cannabis is a hot-button issue among patients,  healthcare practitioners, and policymakers. But that is changing. 

 

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In fact, 32 states and Washington, D.C., now allow marijuana to be prescribed for medical purposes, although their approaches differ. Some states allow medical marijuana dispensaries and some allow for home cultivation.

“The perception and stigma associated with cannabis is changing from a societal standpoint,” says Jessica Rousset, chief operating officer of CURE Pharmaceutical. “People are talking about their experiences and challenging their physicians and bringing the benefits of cannabis to light. This is a sea change.”

As a result of these and other changes in the field, the global medical cannabis market is projected to grow at a compound annual growth rate (CAGR) of 24.4% and surpass $20.17 billion by 2025, according to Coherent Market Insights.

“Cannabis has been used in humans for centuries, and it has an extraordinarily good safety profile,” says Jonathan Rothbard, Ph.D., CEO, chief scientific officer and co-founder of Katexco Pharmaceuticals. “Segregation of the different activities of the plant to distinguish anti-inflammatory effects from the psychotropic effects, would be an important result. And researchers are starting to do this.”

The U.S. approval of Epidiolex in June 2018 — the first plant-based cannabinoid to be approved by the FDA — is viewed as a huge shift forward for the science surrounding cannabis, providing a pathway for other cannabinoid-based drugs to come to the market.

In fact, industry experts say the approval of GW Pharmaceuticals’ Epidiolex for the treatment of seizures associated with two rare forms of epilepsy will likely encourage other companies to maximize the opportunity of developing new drugs in this class.