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Pfizer Enters the Medical Cannabis Market

The pharma giant will pay $6.7 billion to acquire a cannabinoid-based bowel disease treatment.

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.

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