Reviewed from the perspective of New Jersey, which became the 14th state to sanction medical marijuana in 2010, our analysis demonstrates its effectiveness as a legitimate therapeutic option. Individuals with severe illnesses like cancer, AIDS, Lou Gehrig’s disease, muscular dystrophy, multiple sclerosis, seizure disorder, glaucoma, post-traumatic stress disorder, and inflammatory bowel disease are “listed conditions.”
Whether it can work as an investment vehicle is another matter? Only 715 of the state’s licensed doctors of 28,005 have registered with the state to recommend its use for patients. The lack of meaningful participate are two-fold: The federal government sanctioned marijuana as a Schedule 1 drug, claiming “no medical value and high potential for abuse,” and lack of tangible clinical research. At the moment big obstacles with no clear path for resolution.
Meanwhile, Shereef Elnhal, New Jersey Health Commissioner, has added chronic pain, migraines, anxiety and Tourette’s syndrome to a list of approved conditions that marijuana can be legally used. Such new additions are more subjective and unique to individual perception, and therefore a wider use curve.
Currently, 26,000 patients, of which more than half are over the age of 60, have registered to buy medical marijuana, a 125% increased from pre-Governor Phil Murphy taking office in January.
New Jersey issued six cannabis cultivators licenses. At present, the state has suspended new applications. The state legislature is considering bills to add more businesses to the program.
Note: Two recent states funded public studies where marijuana is permitted concluded that 6% fewer prescriptions for opioid painkillers and 45 fewer deaths from opioid overdoes were reported. Since “opioids” is a ten billion dollar plus industry in the United States, such results had not been given more national news coverage. The massive and well-funded opioid establishment has silenced the press and blocked public hearings on the subject. Meanwhile, medical marijuana is being compromised.