Jan 14, 2022
Pfizer entered the medical cannabis industry betting on a promising cannabinoid-based bowel disease treatment, signing an agreement with the clinical-stage company Arena Pharmaceuticals for a total equity value of around $6.7 billion in an all-cash transaction.
The interest of cannabis’ many benefits from the global pharmaceutical industry, known as #BigPharma, will radically transform the cannabis industry—once heavily stigmatized, it is now a potentially game-changing source of growth for countless companies.
"The proposed acquisition of Arena complements our capabilities and expertise in Inflammation and Immunology, a Pfizer innovation engine developing potential therapies for patients with debilitating immuno-inflammatory diseases with a need for more effective treatment options."
Pharmaceutical companies will lean on drugs that contain synthetic versions of CBD and THC, while continuing to acquire patents to secure the rights to various CBD extraction methods and concoctions designed to treat a myriad of ailments.
Episode 865 The #TalkingHedge dives into Forbes’ article...