Biohaven Pharmaceutical CEO Vlad Coric
Supply: CNBC
Pfizer mentioned on Tuesday it’s going to purchase migraine drug maker Biohaven Pharmaceutical Preserving for approximately $11.6 billion in money.
Pfizer will gain all of the exceptional stocks of Biohaven now not already owned by means of Pfizer for $148.50 in line with proportion in money, a 78.6% top class to Biohaven’s ultimate ultimate worth.
Biohaven shareholders, together with Pfizer, may even get 0.5 of a proportion of a brand new publicly traded corporate that can retain Biohaven’s non-migraine remedies which might be in building level.
In November, Pfizer obtained out of the country advertising and marketing rights to 2 migraine medicine from Biohaven for as much as $1.24 billion, with Pfizer taking a 2.6% fairness stake within the smaller corporate.
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