The market for legal marijuana could surpass $20 billion

marijuana

(WISH) – Eli Lilly and other drugmakers saw their stocks jump after the elections results, and the market for legal marijuana could surpass $20 billion.

Eli Lilly shares jumped Wednesday along with other pharmaceutical companies.

The stock was up nearly 6 percent.

Hillary Clinton had campaigned for limits on drug price increases and changes to the patent protection that would have reduced drug companies profits.

In other business headlines, the marijuana market could be about to boom.

New Frontier Data said legal cannabis could expand the national market to $21 billion by 2020. That is up from $5.7 billion last year and an expected $7.9 billion this year.

For more business headlines from Jane King at the Nasdaq, watch Daybreak Monday through Friday.