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OfflineEllis Dee
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Pharma Company Funding Anti-Pot Fight Worried About Losing Business, Filings Show * 1
    #23640808 - 09/13/16 07:41 AM (7 years, 5 months ago)

Pharma Company Funding Anti-Pot Fight Worried About Losing Business, Filings Show

Lee Fang
Sep. 12 2016, 11:17 a.m.

Pharmaceutical executives who recently made a major donation to an anti-marijuana legalization campaign claimed they were doing so out of concern for the safety of children — but their investor filings reveal that pot poses a direct threat to their plans to cash in on a synthetic cannabis product they have developed.

On August 31, Insys Therapeutics Inc. donated $500,000 to Arizonans for Responsible Drug Policy, becoming the single largest donor to the group leading the charge to defeat a ballot measure in Arizona to legalize marijuana.

The drug company, which currently markets a fast-acting version of the deadly painkiller fentanyl, assured local news reporters that they had the public interest in mind when making the hefty donation. A spokesperson told the Arizona Republic that Insys opposes the legalization measure, Prop. 205, “because it fails to protect the safety of Arizona’s citizens, and particularly its children.”

A Washington Post story on Friday noted the potential self-interest involved in Insys’s donation.

Investor filings examined by The Intercept confirm the obvious.

Insys is currently developing a product called the Dronabinol Oral Solution, a drug that uses a synthetic version of tetrahydrocannabinol (THC) to alleviate chemotherapy-caused nausea and vomiting. In an early filing related to the dronabinol drug, assessing market concerns and competition, Insys filed a disclosure statement with the Securities and Exchange Commission stating plainly that legal marijuana is a direct threat to their product line:

    Legalization of marijuana or non-synthetic cannabinoids in the United States could significantly limit the commercial success of any dronabinol product candidate. … If marijuana or non-synthetic cannabinoids were legalized in the United States, the market for dronabinol product sales would likely be significantly reduced and our ability to generate revenue and our business prospects would be materially adversely affected.

Insys explains in the filing that dronabinol is “one of a limited number of FDA-approved synthetic cannabinoids in the United States” and “therefore in the United States, dronabinol products do not have to compete with natural cannabis or non-synthetic cannabinoids.”

The company concedes that scientific literature has argued the benefits of marijuana over synthetic dronabinol, and that support for marijuana legalization is growing. In the company’s latest 10-K filing with the SEC, in a section outlining competitive threats, Insys warns that several states “have already enacted laws legalizing medicinal and recreational marijuana.”

Subsys, the fentanyl spray Insys makes, is used as a fast-acting pain reliever. Fenatyl is an opioid that has made headlines in recent years as the number of Americans overdosing on the drug has skyrocketed. Fenatyl is 50 times stronger than heroin and has been linked to the death of Prince earlier this year. Last month, two Insys executives pled guilty to a pay-for-play scheme to use speakers fees as a way to get doctors to prescribe Subsys.

Marijuana advocates claim that legalized pot has a variety of medical uses, including pain relief.

It’s not the first time pharmaceutical companies have helped bankroll the opposition to marijuana reform. The Community Anti-Drug Coalition of America, a nonprofit that organizes anti-marijuana activism across the country, has long received corporate sponsorship from Purdue Pharma, the makers of Oxycontin, and Janssen Pharmaceuticals, another opioid manufacturer.

J.P. Holyoak, chairman of the Campaign to Regulate Marijuana Like Alcohol, a group supporting the legalization ballot measure, released a statement condemning the Insys donation. “Our opponents have made a conscious decision to associate with this company,” Holyoak said. “They are now funding their campaign with profits from the sale of opioids — and maybe even the improper sale of opioids.”

Top photo: Marijuana plants grow at the Perennial Holistic Wellness Center in Los Angeles.


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"If the foundations be destroyed, what can the righteous do."-King Solomon

And there was war in heaven: Michael and his angels fought against the dragon; and the dragon fought and his angels,

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InvisibleAdden
I'm a teapot
Registered: 06/04/03
Posts: 39,201
Re: Pharma Company Funding Anti-Pot Fight Worried About Losing Business, Filings Show [Re: Ellis Dee] * 1
    #23640857 - 09/13/16 08:14 AM (7 years, 5 months ago)


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Offlinepsillyboy
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Registered: 09/26/14
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Re: Pharma Company Funding Anti-Pot Fight Worried About Losing Business, Filings Show [Re: Adden] * 1
    #23641248 - 09/13/16 11:04 AM (7 years, 5 months ago)

Insys is shady as shit.

      These are the people that convinced doctors to prescribe Fenanyl to everybody and your granny for moderate pain. This shit should be used only by terminal patients with intractable pain (addictive as shit).
      INSYS SUCKS BIG TIME and just want a country wide monopoly on the THC market. 


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"True terror is to wake up one morning and discover that your high school class is running the country - K. Vonnegut

“The real truth, that dare not speak itself, is that no one is in control. Absolutely no one.” ― Terence McKenna

"LSD is a psychedelic drug which occasionally causes psychotic behavior in people who have never taken it." - Timothy Leary

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Offlinemusiclover420
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Re: Pharma Company Funding Anti-Pot Fight Worried About Losing Business, Filings Show [Re: psillyboy] * 1
    #23641884 - 09/13/16 03:03 PM (7 years, 5 months ago)

:facepalm3:

At least most people are smart enough to not buy into the "think of the children" BS anymore...

Of course they feel cannabis is a huge public safety issue for kids but have no problem getting everyone hooked on fentanyl :rolleyes: scumbags...


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Don't worry about me, I've got all that I need. And I'm singing my song to the sky

You know how it feels, With the breeze of the sun in your eyes. Not minding that time's passing by

I've got all and more, My smile, just as before. Is all that I carry with me

I talk to myself, I need nobody else. I'm lost and I'm mine, yes I'm free


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InvisibleOgla
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Registered: 02/16/04
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Re: Pharma Company Funding Anti-Pot Fight Worried About Losing Business, Filings Show [Re: musiclover420]
    #23641887 - 09/13/16 03:05 PM (7 years, 5 months ago)

OMG! the children!  :omgz:

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Offlinemusiclover420
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Re: Pharma Company Funding Anti-Pot Fight Worried About Losing Business, Filings Show [Re: Ogla]
    #23641910 - 09/13/16 03:12 PM (7 years, 5 months ago)


Won't somebody please think of the children


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Don't worry about me, I've got all that I need. And I'm singing my song to the sky

You know how it feels, With the breeze of the sun in your eyes. Not minding that time's passing by

I've got all and more, My smile, just as before. Is all that I carry with me

I talk to myself, I need nobody else. I'm lost and I'm mine, yes I'm free


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OfflineNature Boy
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Registered: 07/09/07
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Re: Pharma Company Funding Anti-Pot Fight Worried About Losing Business, Filings Show [Re: Ellis Dee] * 1
    #23642185 - 09/13/16 04:39 PM (7 years, 5 months ago)

Well, if that's their biggest concern...let's make it a reality.  Let the boycott begin!!!

N.B.


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All submitted posts under this user name are works of pure fiction or outright lies.  Any information, statement, or assertion contained therein should be considered pure unadulterated bullshit.  Note well:  Sorry, but I do not answer PM's unless you are a long-time trusted friend.  If you have a question, ask it in the appropriate thread.

                                                                               

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Invisiblebadchad
Mad Scientist

Registered: 03/02/05
Posts: 13,374
Re: Pharma Company Funding Anti-Pot Fight Worried About Losing Business, Filings Show [Re: Nature Boy]
    #23642694 - 09/13/16 07:09 PM (7 years, 5 months ago)

I'm a bit surprised by this actually. Relatively speaking, few people smoke MJ and the majority are concentrated in a younger age group that probably wouldn't use the drug in the first place. I'd also guess the vast majority are much more comfortable getting a prescription from a physician as opposed to smoking MJ (it's probably a lot cheaper for the pills as well).

I'd be curious how their opinion was formed.


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...the whole experience is (and is as) a profound piece of knowledge.  It is an indellible experience; it is forever known.  I have known myself in a way I doubt I would have ever occurred except as it did.

Smith, P.  Bull. Menninger Clinic (1959) 23:20-27; p. 27.

...most subjects find the experience valuable, some find it frightening, and many say that is it uniquely lovely.

Osmond, H.  Annals, NY Acad Science (1957) 66:418-434; p.436

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Offlineyabbahabba
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Re: Pharma Company Funding Anti-Pot Fight Worried About Losing Business, Filings Show [Re: Ellis Dee] * 1
    #23643523 - 09/14/16 12:13 AM (7 years, 5 months ago)

gangster shit on a higher level.

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