Pfizer to Pay $11.6 Billion to Buy Biohaven

Money-rich Pfizer buys Beohaven for $11.6 billion in biggest deal since 2016

Pfizer said it will pay $11.6 billion to buy sister pill maker Biohaven Pharma in the biggest deal by the wealthy drugmaker since 2016 aimed at strengthening its portfolio before patents on some of its cancer drugs expire.

The transaction will give Pfizer access to Biohaven Remigrant, which is approved for sale as Nortec ODT in the United States and is a CGRP-binding calcitonin migraine drug.

After the drug giant raised $32 billion in cash after the success of its drugs and vaccine against Covid-19, Pfizer is seeking to add other treatments to its drugs as patents for its best-selling drugs such as the blood thinner Eliquis are nearing expiration, in addition to the company anticipating a decline in sales. Covid vaccines are at their highest levels over the past year. Read more [The Giant Pfizer Trims 2022 Earnings Guidance].

The Biohaven deal is Pfizer’s biggest since its $14 billion acquisition of cancer drugmaker Medivision in 2016 and will pay $148.50 per share of Biohaven in cash, about 78.6% more than the last closing price of the stock, which drove Biohaven shares. It fluctuated by about 70.1% to $141.39 before the start of trading, while the shares of Fires, which had bought a 2.6% stake in the company last November, traded with relative stability at $48.60.

Pfizer will compete through this deal in the crowded migraine treatment market and will shock giant companies such as Eli Lilly, but it is expected that Biohaven, which has been approved as a treatment and prevention for migraine headaches, will bring sales of more than 4 billion dollars by 2030 after it reached Its sales in 2021 amounted to $462.5 million.

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