The cannabis industry is red hot with mergers and acquisitions, and the medical sector of the market is no exception. A recent Forbes article discussed Pfizer’s purchase of Arena Pharmaceuticals, a biotech company focused on cannabinoid-type therapeutics. They have a promising candidate in development called Olorinab, which is an investigational drug that treats the pain associated with diseases affecting the stomach and intestine.
Pfizer Enters the Medical Cannabis Market
The pharma giant will pay $6.7 billion to acquire a cannabinoid-based bowel disease treatment.
Jan 11, 2022
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