Cannabis has proved its immense scope in the biopharmaceutical industry, with companies actively investing in developing a strong portfolio. Apart from its medicinal benefits, it sees high demand in the recreational sector as a psychoactive drug.
However, this industry is a new and evolving space that continues to struggle with changing regulations and legal barriers globally. Marijuana remains illegal under federal and many state laws, with a penalty of imprisonment for a year for mere possession and up to a lifetime on its sale. Moreover, with the recreational use of marijuana being heavily taxed and regulated in states where it's legalized, this industry still faces a stigma of a ‘stoner culture,’ thus limiting its near-term growth prospects.
