Fenofibrate, also known by the brand name Tricor, is used to treat high cholesterol and high triglyceride levels.
The drug may also benefit a wide range of health issues, such as pain, appetite stimulation, nausea, as well as immune and various psychiatric and neurological conditions, researchers said.
The research suggests fenofibrate may be the starting point for a new class of cannabis-like drugs to treat these types of conditions.
"By illustrating the relationship between fenofibrate and the cannabinoid system, we aim to improve our understanding of this clinically important drug," said Richard S Priestley, a researcher from the School of Life Sciences at the University of Nottingham Medical School in Nottingham, UK.
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Priestly and colleagues cultured cells containing cannabinoid receptors and exposed them to a tracer compound, which binds to cannabinoid receptors.
They found that fenofibrate was able to displace the tracer, suggesting that it also binds to the receptors.
Furthermore, they discovered that fenofibrate actually switched the cannabinoid receptors "on," not only in these cells, but also in sections of intestine.
This led to the relaxation of the tissue in a way that mimicked what marijuana does.
Despite the fact that fenofibrate has been used for many years, and its mechanism of action was presumed to be through a completely different family of receptors, this suggests that at least some of the effects of fenofibrate may be controlled by cannabinoid receptors.
"There are people who do not want to get stoned just to get the relief that marijuana brings. This new work suggests that possibility," said Gerald Weissmann, Editor-in-Chief of The FASEB Journal in which the study was published.