Pfizer Bets On Medical Cannabis With $6.7 Billion Acquisition

Pfizer is to enter the medical cannabis industry betting on a promising cannabinoid-based bowel disease treatment. Last week, American multinational pharmaceutical and biotechnology corporation Pfizer signed an agreement with the clinical-stage company Arena Pharmaceuticals for a total equity value of around $6.7 billion. Under the agreement terms, Pfizer acquires all shares for $100 per share…
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