Pfizer to acquire Arena Pharmaceuticals in $6.7 billion deal

  • Pfizer will take over all outstanding shares of Arena for $100 per share, representing a 100.2% premium to Arena’s last closing price.
  • Arena is developing several treatments for gastroenterology, dermatology, and cardiology. The drug developer’s ulcerative colitis treatment candidate, etrasimod, is in a late-stage study.

Pfizer Inc has agreed to acquire Arena Pharmaceuticals in a $6.7 billion all-cash deal to expand its cancer and inflammatory disease treatment pipeline, the companies said on Monday.

Pfizer will take over all outstanding shares of Arena for $100 per share, representing a 100.2% premium to Arena’s last closing price.

Arena is developing several treatments for gastroenterology, dermatology, and cardiology. The drug developer’s ulcerative colitis treatment candidate, etrasimod, is in a late-stage study.

Pfizer’s financial advisers for the transaction are BofA Securities and Centerview Partners LLC, while Guggenheim Securities LLC and Evercore Group LLC advised Arena.


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