Pfizer's Acquisition of Arena "Shows Large Pharmaceuticals Interest in Cannabinoid Drugs"
Pfizer Inc, one of three pharmaceutical companies that make COVID-19 vaccines, is in the process of acquiring another large pharmaceutical company that is conducting clinical trials on various drugs, including one that examines the effectiveness of cannabinoids.
Pfizer Inc. has paid $ 6,7 billion in cash in a deal to acquire Arena Pharmaceuticals, Inc.
Pfizer Inc. announced its proposed acquisition of Arena Pharmaceuticals, Inc. on December 13. The two companies signed an agreement that said Pfizer would receive all of the Arena shares for $ 100 per share, paid in cash at the deal's value set at $ 6,7 billion. Arena offers a variety of multistage clinical trials for the drugs it is currently developing, one of which is exploring the use of an oral cannabinoid drug for gastrointestinal disorders.
according to a press releaseThe press, the Boards of Directors of Pfizer and Arena have approved the transaction. The proposed Arena acquisition complements our capabilities and expertise in inflammation and immunology, an innovation driver for Pfizer that develops potential therapies for patients with debilitating immuno-inflammatory diseases needing more effective treatment options, ”said Mike Gladstone, global president and CEO of Pfizer. Using Pfizer's leading global research and development capabilities, we plan to accelerate the clinical development of etrasimod for patients with immuno-inflammatory diseases. Gladstone works in the inflammation and immunology department at Pfizer.
Arena has worked on a multitude of “developmental therapeutic candidates”, ranging from gastroenterology to dermatology to cardiology. One particular treatment of note is etrasimod, which is being tested as a treatment for ulcerative colitis and Crohn's disease. Other candidate drugs for gastroenterology, dermatology and cardiology.
In addition, Arena is working on a type 2 cannabinoid receptor antagonist. In an interview, Nawan Butt, portfolio manager of The Medical Cannabis and Wellness ICITS ETC, mentions the importance of this agreement in advancing research possibilities on the medical cannabis. “This acquisition shows the interest that large pharmaceutical companies have in the rapidly changing world of cannabinoids. We are encouraged by this acquisition as it provides more resources and a broader platform for the pharmaceutical development of cannabinoids. Overall, this transaction is in line with Pfizer's long-term goal of innovative research and is a great victory for our investors, ”he told proactiveinvestors.com.
Arena's involvement in cannabinoid research is linked to its drug candidate, Olorinab (APD371). “Olorinab (APD371) is an experimental, oral, peripherally acting, highly selective and complete agonist of the cannabinoid receptor type 2 (CB2). Olorinab is an internally discovered drug candidate that Arena is exploring for development in multiple indications, with an initial focus on visceral pain associated with gastrointestinal disturbances, ”read the website. Arena. “This compound, thanks to its selectivity for CB2 over CB1, is being investigated for pain relief without psychoactive adverse effects. "
Outside of formal clinical trials, cannabis research has grown rapidly over the past decade. But in early November, NORML published a compilation of 450 peer-reviewed studies in "Clinical Applications for Cannabis & Cannabinoids: A Review of the Recent Scientific Literature, 2000-2021".
The compilation highlights the wide variety of studies examining cannabis in conjunction with autism, chronic pain, diabetes, fibromyalgia, migraines, and PTSD. Studies such as these are likely to become the building blocks for future clinical trials. “NORML has a long history of advocating for the adoption of evidence-based marijuana policies,” said lead author of the study, Paul Armentano, deputy director of NORML. “When it comes to addressing specific issues of the safety and therapeutic efficacy of cannabis, this publication provides the evidence that patients and their physicians - as well as policy makers - need to know. "
Whether it is studies of cannabis as a sleep aid or exercise, American researchers stand ready to continue to conduct studies on cannabis for years to come, paving the way for the performance of other clinical trials.