Companies Like Pfizer Inc (PFE) are Boosting the Cannabis Light Market

Pfizer Inc. (NYSE:PFE) is one of the 10 Best Non-Tech Stocks to Buy and Hold For 3 Years. On July 1, GlobalNewswire reported that the Cannabis Light Market is expected to grow at a Compound Annual Growth Rate (CAGR) of 7.6% from 2025 to 2030. This is because companies like Pfizer Inc. (NYSE:PFE) have entered the industry.

In 2021, Pfizer Inc. (NYSE:PFE) entered the medical cannabis sector by acquiring Arena Pharmaceuticals for $6.7 billion. The report highlighted that the industry is rapidly evolving due to increased legalization and cultivation activities around the globe. This has led to key pharmaceutical companies like Pfizer Inc. (NYSE:PFE) to forge partnerships to maximize the efficient use of cannabis using advanced lighting techniques.

Pfizer Inc. (NYSE:PFE) is an international biopharmaceutical company that researches, develops, manufactures, and sells medicines and vaccines. Its products cover a wide range of health areas, including oncology, primary care, and specialty care.

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READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey.