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Re: NYBob post# 37098

Saturday, 09/24/2016 4:48:34 PM

Saturday, September 24, 2016 4:48:34 PM

Post# of 44396
Hey Bob in Arizona the SEC filings told the rest of the story.

Read the below to find out once again STOCK HOLDERS GREED over HEALTH once again is revealed!

Read the colored parts if you short on time.

No wonder some on the hub will say anything to get rid of my education about cannabis they must worship the $$$$$$$$$$$ more!

The SEC filing REVEALS it ALL!

http://www.attn.com/stories/11586/pharmaceutical-company-admits-opposing-marijuana-legalization

Earlier this month, Insys Therapeutics Inc., an Arizona-based company, donated $500,000 to a group calling itself Arizonans for Responsible Drug Policy, a newly formed organization established to try to defeat Proposition 205, the marijuana legalization voter initiative that will appear on the ballot this November in that state.

Insys currently markets just one product, Subsys, a sublingual fentanyl spray, a synthetic opioid far more potent than heroin (fentanyl is the drug found in Prince's system following his death in April). "Insys Therapeutics made $62 million in net revenue on Subsys fentanyl sales in the first quarter of this year, representing 100 percent of the company's earnings," according to The Washington Post. "The CDC has implicated the drug in a 'surge' of overdose deaths in several states in recent years."

Survey data compiled from medical marijuana patients show that subjects often reduce their use of prescription drug therapies — particularly opioids — when they have legal access to cannabis. According to a 2015 RAND Corp. study, opiate-related abuse and mortality is lower in jurisdictions that permit medical cannabis access, compared to those that outlaw the plant.


Insys has come under scrutiny of law enforcement. According to The Washington Post, a number of states are currently investigating Insys for illegally paying physicians to prescribe their drug in situations in which it was inappropriate. Illinois Attorney General Lisa Madigan filed a lawsuit against the company, claiming the company's "desire for increased profits led it to disregard patients' health and pushed addictive opioids for non-FDA approved purposes."

The smoking gun.

When the company first made its half-million dollar contribution to the group opposing the Arizona legalization initiative — the largest single contribution to the group by a factor of four — the company claimed that its reason for opposing the voter initiative was "because it fails to protect the safety of Arizona's citizens and particularly its children."


But when the company filed a legally required disclosure statement with the Securities and Exchange Commission, it acknowledged to shareholders that it was making the donation because it feared a decline in the sales of its powerful opioid product and that of a second drug it is developing: Dranabinol, a synthetic cannabinoid. Synthetic cannibinoid is a blanket term for an artificial version of tetrahydrocannabinol, or THC — the active compound in the marijuana plant — intended to alleviate chemotherapy-caused nausea and vomiting. The company concedes that the scientific literature has confirmed the benefits of natural marijuana over synthetic THC:

"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."

The Arizona Republic reported that the company, while publicly claiming to have kids' best interests in mind, is clearly more concerned with ways to "protect its own bottom line."


And the company has good reason for that fear. Recently published studies have found that states that provide for the legal use of medical marijuana had a 25 percent decline in opioid prescriptions. Another recent study from Columbia University found the implementation of medical marijuana programs is associated with a decrease in the prevalence of opioids detected among fatally injured drivers, based on a review of 69,000 fatalities in 18 states, according to data published in the American Journal of Public Health. Where legal marijuana is available, people use far fewer opioid drugs.


So we now have direct evidence that this pharmaceutical company in Arizona is spending large amounts of money to avoid having to compete with legal marijuana, in order to protect its market share for an addictive and dangerous synthetic opioid and a synthetic form of THC, at the expense of public health.

This is not the first instance of pharmaceutical companies pouring money into the "war on drugs." In 2014, The Nation published an article revealing that the makers of Oxycontin and Vicodin were two of the largest contributors to The Partnership for Drug Free Kids and the Community Anti-Drug Coalition of America, two groups that oppose marijuana legalization and support continued prohibition.

Insys will certainly not be the last pharmaceutical company caught putting company profits ahead of concern for public health, but it is the first instance we have seen where a company was caught with its hands in the cookie jar, opposing a marijuana legalization initiative purely for reasons of corporate greed.




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