Pfizer wants in on the cannabis game. Will you be buying Pharma Weed? Most consumers say absolutely not.
You may not have heard the wonderful news. Our great overlords and global saviors at Pfizer announced their intentions to get into the medical cannabis market via their $6.7 billion acquisition of Arena Pharmaceuticals Inc. Of course, the giant pharmaceutical company has a lot of “expendable cash” available due to the pandemic.
However, the news of Pfizer wanting to break into the medical cannabis industry isn’t something new. Every advocate understood that once cannabis is legalized globally, these giant pharmaceutical companies would definitely make their claim to some portion of the marketplace. Whether this is a “good” thing or a “bad” thing is irrelevant; the truth of the matter is that pharma entering into the cannabis industry is an inevitability.
For that to happen, pharma has to dig their money-hungry hands into the market and begin to do some R&D. In the case of their recent acquisition, we can already see that they are targeting specific conditions and will be creating a medication instead of trying to sell tinctures, whole plant, etc.
This type of cannabinoid medicine would be able to be obtained via health insurance, meaning that it could make cannabinoid-based medicines widely available for people who may need it.
What’s Some Good That Can Come From This?
While it’s probably easier to pander to the masses and frame Pfizer as the devil incarnate, they too are simply a force of reality that exists and behaves according to its own self-preservation. If they are about making profits, then they will adapt to the market needs and if endocannabinoid-treatment options will become a thing, then their self-preservation would create a net-benefit.