TEVA - 3 Big Pharma Stocks With Surprising Cannabis Connections
While smaller drugmakers such as GW Pharmaceuticals (NASDAQ: GWPH) and Corbus Pharmaceuticals (NASDAQ: CRBP) have plowed headlong into medical marijuana research, most of the largest pharmaceutical companies have stayed on the sidelines. Most -- but not all. A few of the top names in the sector have recognized the potential of cannabis. The rise in opioid lawsuits may lead drug companies to cannabinoids in the search for less-addictive pain relievers. It doesn't hurt that the compound annual growth rate (CAGR) of the global market for medical marijuana, according to one study, is estimated to be 24% over the next four years. This could considerably rise if federal laws around medical marijuana loosen. The reticence of those who have stayed out of this emerging business may not last long, especially with the share prices of the aforementioned stocks rising quickly. Johnson & Johnson (NYSE: JNJ), AbbVie (NYSE: ABBV), and Teva Pharmaceutical (NYSE: TEVA) are huge pharmaceutical companies that are less likely to see that same type of explosive growth in share price, but all three are establishing, at a distance, connections to medical marijuana.