Pfizer to Buy Rest of Biohaven for $11.6 Billion
10 Mai 2022 - 1:28PM
Dow Jones News
By Colin Kellaher
Pfizer Inc. on Tuesday said it agreed to buy the rest of
Biohaven Pharmaceutical Holding Co. for about $11.6 billion, giving
the New York drugmaker full ownership of the Nurtec ODT migraine
franchise.
Pfizer said it would pay $148.50 a share in cash for the
Biohaven shares it doesn't already own, a nearly 79% premium to
Monday's closing price of $83.14 for the New Haven, Conn.,
biopharmaceutical company.
Pfizer said Biohaven shareholders, including Pfizer, would also
receive shares in a new publicly traded company that would retain
Biohaven's non-CGRP development stage pipeline compounds.
Pfizer and Biohaven earlier this year completed an agreement
under which Pfizer gained commercialization rights to Nurtec
outside the U.S. and bought a 2.6% stake in Biohaven.
Pfizer, which is flush with cash from its Covid-19 franchise,
said it plans to fund the Biohaven deal with cash on hand, adding
that it expects to complete the transaction by early 2023.
Shares of Biohaven jumped about 75% in premarket trading
Tuesday.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
May 10, 2022 07:13 ET (11:13 GMT)
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