The American laboratory Pfizer joined Jazz Pharma and the laboratory Johnson & Johnson in the race to conquer the medical cannabis market. Indeed, Pfizer has just acquired another laboratory specializing in the production of medicines based on cannabis in the United States.
Read more about Pfizer and find other important cannabis news with the Hemp.im mobile app. The app makes it easy for you to keep informed, to intuitively move from story to story, and from section to section. Its clean design lets you read articles without clutter, and use the app with no limits on how many articles you can view.
The new acquisition of the pharmaceutical giant Pfizer is called Arena Pharmaceuticals
According to Forbes: “Under the agreement terms, Pfizer acquires all shares for $100 per share in an all-cash transaction. Moreover, the press release reads that the proposed transaction will be subject to customary closing conditions, including receipt of regulatory approvals and approval by Arena’s stockholders.”
Arena Pharmaceuticals is an American company that produces drugs from its headquarters in San Diego, California, since 2012. One of the treatments for irritable bowel syndrome, called Olorionab, is based on cannabis and is in Arena Pharmaceuticals’s development pipeline.
Specializing in experimental treatments for Crohn’s disease, Arena Pharmaceutical has only one marketing authorization in the USA. Since 2012 it has been marketing the molecule it patented: Lorcaserin. It is in fact a treatment to fight against obesity. The name of this drug is ‘Belviq’.
Pfizer doesn’t need any introduction. The multinational company’s profits are expected to be stratospheric this year, thanks to its global vaccine trial on COVID that ends in 2023. On the acquisition side, the patent that Pfizer is interested in is the treatment called Olorinab. This involves using cannabinoids via human CB2 receptors against pain and symptoms of inflammation in the abdominal area.
The biotechnology company managed to raise $6.7 billion to carry out research on drugs based on cannabinoids and becomes in some way the specialized unit of Pfizer in the field of drugs based on cannabis.
7 billions, to give you an idea, it is the equivalent of the French trade deficit for one year. While the multinationals are investing, France is cutting itself off from any hope of research or development in this sector by starting to ban hemp flowers, for example. The startup nation will therefore suffer the will of the multinationals for its medical cannabis-based treatments for lack of development and funded initiative in this direction.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in Le Cannabiste, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
Medical Microinstruments Raises an Impressive Amount of $110 Million
Thanks to its technology, surgeons will be able to perform anastomoses in very small vessels and nerves, with applications in...
Shimmer Airdrop Campaign a Success? The Interim Conclusion is Double-Edged
The results of Shimmer so far show little response and efficiency given the high costs for the advertising campaign. The...
Czech Republic Bans HHC: New Regulations Change the Market
The Czech Republic's decision to ban HHC highlights a growing global debate about how best to manage psychoactive substances. While...
Gotham Insists on Projecting Its Doubts on Grifols
This counterattack by Gotham comes weeks after Grifols has received accolades following the confirmation of the sale to Haier of...
Argentina Lithium & Energy Leading the Charge as Demand for Argentine Lithium Grows
In response to surging demand from automakers for lithium, Argentina Lithium & Energy Corp. has entered into a major US$90...
Fintech2 weeks ago
Visa Innovation Program Europe Closes its Second Edition in Spain Promoting Innovation in the Fintech Sector
Crypto4 days ago
Tron Founder Justin Sun Wants to Link the Ecosystem with Bitcoin
Biotech1 week ago
Qube Research & Technologies Increases its Short Position in Grifols to 1.23%
Crowdfunding2 days ago
Gamefound and CMON Enter into a Partnership