Canopy’s CEO urges US to legalize marijuana to reduce opioid prescriptions

Canopy’s Chief Executive Officer Bruce Linton urged “the investment community” to “drop the pot jokes and talk about the investment grade opportunity.” (File image)
Canopy’s Chief Executive Officer Bruce Linton urged “the investment community” to “drop the pot jokes and talk about the investment grade opportunity.” (File image)

Legalizing marijuana on a federal level in the United States could result in fewer opioid prescriptions, Bruce Linton, founder and CEO of one of Canada’s biggest marijuana company Canopy Growth, said Thursday.

“Cannabis is a huge disruptor to the opioid guys,” Linton told CNBC in an interview.

Linton told “Mad Money” host Jim Cramer that Canopy is looking at other possible uses for marijuana in the health-care sector. 

The Centers for Disease Control and Prevention said the highly addictive opioids, including heroin and fentanyl, have killed more than 42,000 Americans in 2016.

Linton also said that marijuana has even influenced the sale of other products such as alcohol and sleep aids, highlighting the green herb’s economic benefits.

Listed under the ticker “WEED” in Canada, Canopy said on Monday that it had applied to list its shares on the New York Stock Exchange, under the ticker “CGC.”

[share-btn]

Comments