2014 was a monumental year for the US legal cannabis market. 25 states and Washington D.C. now have some measure of medical or adult-use legislation, creating a market that is estimated to grow to over $10BN by 2018 (Arcview Market Research, 2014).
Michael Walsh | Strasburger & Price
What do you do when your competitor doesn’t play by the rules?
As the “information revolution” flourishes and internet marketing for over-the-counter medical products proliferates, some marketers profit by claiming unapproved therapeutic benefits for products, while manufacturers of approved products with proven benefits suffer. In this dynamic, interactive and free-flowing information environment, new tools are emerging to allow manufacturers to police the content of competitors’ marketing.
Some of the best minds in science create groundbreaking drugs that change the lives of millions of patients. New drug targets, genetic connections with medications and a greater understanding of the body’s chemistry have led to the development of more than 4,500 different active pharmaceutical ingredients. Some of the best intentions run aground, however, when the realities of the marketplace confront the demands of recouping drug development costs. To further complicate matters, the Centers for Medicare & Medicaid Services is requiring this fall for drug makers to disclose their payments to providers under the Sunshine Act.