The bait on your story hook is a drug that eliminates the need for sleep.? It enables people to party all night -- literally -- and work all day. That's the sizzle, the lead, the strongest selling point of your concept. I suggest the logline be reworked to put a stronger focus on it.
You're on the mark that the drug like everything else in life (including the Force) has a bright side and a dark side, positive and negative consequences.?? However, the dark side, the side effects are a little vague. What are the side effects, anyway?
And I don't see how the sheriff nearing retirement is germane to the logline.?As part of the script -- no problem. But what value does it add to the logline?
As I understand it, a descriptive tag in a logline for a character protagonist serves one of 3 major purposes:
1]To ID a character flaw that jeopardizes the protagonist's struggle to achieve his objective goal. Later or sooner, he'll have to overcome it -- or fail.
2]To ID a psychic wound that can only be healed by achieving the objective goal. (Example: the protagonist is wracked with guilt by either a sin of omission or a sin of commission in his past and seeks absolution and redemption by achieving the objective goal in the future.)
3]To ID an ability, a skill, a strength a character will need to succeed (eventually). Often it is initially disguised as a flaw, or of no consequence. (Like Raymond in the "The Rain Man". He's an idiot savant -- with a photographic memory. And he can count cards.)
If such a tag is assigned to the antagonist, then, obviously, it's there to indicate why he presents a formidable foe, a serious threat to the protagonist.
If the tag doesn't serve one of those purpose, it's superfluous in a logline.? Even if it fleshes out the character in the script.
fwiw