Cannabis Meets Prescription Drugs, Steroids And Ketamine In Schedule III: What It Means, Key Stocks To Watch
Portfolio Pulse from Nicolás Jose Rodriguez
The Biden administration is moving to reschedule cannabis from Schedule I to Schedule III under the Controlled Substances Act, which could revolutionize the cannabis industry. This change will allow marijuana businesses to deduct operational expenses, potentially increasing cash flow by up to 500% for major players. Key stocks to watch include Johnson & Johnson, MindMed, Cybin Inc., Pfizer, Amgen, Teva Pharmaceutical Industries, AbbVie, and Jazz Pharmaceuticals.
May 18, 2024 | 2:19 pm
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POSITIVE IMPACT
AbbVie is a leader in the pharmaceutical market with innovative research in synthetic cannabinoids like Marinol.
AbbVie's leadership in synthetic cannabinoid research and financial stability make it a strong investment.
CONFIDENCE 85
IMPORTANCE 65
RELEVANCE 70
POSITIVE IMPACT
Amgen is renowned for fabricating steroids for cancer-related cachexia and muscle wasting.
Amgen's reputation in steroid production for critical health conditions supports its stock stability.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
Cybin Inc. is making significant progress in clinical trials for mental health treatment through psychedelics.
Cybin's progress in clinical trials for psychedelic treatments positions it well in the evolving mental health market.
CONFIDENCE 80
IMPORTANCE 55
RELEVANCE 60
POSITIVE IMPACT
Jazz Pharmaceuticals is recognized for its breakthrough treatments in epilepsy, such as Epidiolex.
Jazz's breakthrough treatments in epilepsy position it well in the pharmaceutical market, supporting its stock.
CONFIDENCE 80
IMPORTANCE 55
RELEVANCE 60
POSITIVE IMPACT
Johnson & Johnson is a dominant force in the ketamine market with significant investments in innovative treatments like Spravato.
JNJ's significant investments in ketamine treatments position it well in the Schedule III market, likely boosting its stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
MindMed is pioneering psychedelic research, particularly in ketamine derivatives, and is rated as a strong buy by analysts.
MindMed's innovative research in ketamine derivatives and strong buy rating from analysts make it a promising stock.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Pfizer has a substantial market cap and established presence in the steroid market.
Pfizer's established presence in the steroid market and substantial market cap make it a stable investment.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
Teva Pharmaceutical Industries is involved in the global generic drug market with strategic investments in steroid research.
Teva's strategic investments in steroid research enhance its diversified portfolio, supporting its stock.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50