A pharmaceutical company that donated half a million dollars to combating a ballot measure that would legalize adult-use cannabis in Arizona is concerned about losing business to natural cannabinoids found in marijuana.
Insys Therapeutics, which gave $500,000 to Arizonans for Responsible Drug Policy on Aug. 31, is developing a synthetic cannabis product called the Dronabinol Oral Solution to help chemotherapy patients fight nausea and vomiting.
In a 2007 filing with the U.S. Securities and Exchange Commission, the company wrote that marijuana legalization could cut into its profits from dronabinol, the Intercept reported Monday.
That was included in a lengthy SEC filing dated Aug. 17, 2007, and it stands in contrast to Insys Therapeutics’ claim to reporters that its donation to Arizonans for Responsible Drug Policy was motivated by concern for citizen safety, “particularly children.”
Arizona is already home to one of the largest medical marijuana markets in the country, with roughly 100,000 registered MMJ cardholders.