Express Pharma

Pfizer to buy Biohaven Pharma in $11.6 billion deal

Pfizer will acquire all the outstanding shares of Biohaven not already owned by Pfizer for $148.50 per share in cash, a 78.6 per cent premium to Biohaven's last closing price

0 77

Pfizer said yesterday that it will buy Biohaven Pharma for about $11.6 billion in cash.

Pfizer will acquire all the outstanding shares of Biohaven not already owned by Pfizer for $148.50 per share in cash, a 78.6 per cent premium to Biohaven’s last closing price.

Biohaven shareholders, including Pfizer, will also get 0.5 of a share of a new publicly-traded company that will retain Biohaven’s non-migraine treatments that are in the development stage.

In November, Pfizer acquired overseas marketing rights to two migraine drugs from Biohaven for up to $1.24 billion, with Pfizer taking a 2.6 per cent equity stake in the smaller company.

Edits by EP News Bureau

 

Leave A Reply

Your email address will not be published.