In December 2021, Pfizer acquired Arena Pharmaceuticals. We know Pfizer as the American multinational pharmaceutical and biotechnology corporation. Arena is a clinical-stage biotech company developing a cannabis-derived pain relief medicine for gastrointestinal disorders. The acquisition confirmed Pfizer’s interest in the medical cannabis industry. In addition, Pfizer believes the acquisition will complement its expertise in Inflammation and Immunology.
Pfizer acquired Arena Pharmaceuticals for an equity value of about $6.7 billion.
