Pfizer bets on Arena's promising bowel disease treatment in $6.7 billion deal
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Pfizer (PFE) Announces FDA Approval of XELJANZ for the Treatment of Active Ankylosing Spondylitis
December 14, 2021 4:08 PM ESTPfizer Inc. (NYSE: PFE) announced today that the U.S. Food and Drug Administration (FDA) has approved the supplemental New Drug Application (sNDA) for XELJANZ® / XELJANZ® XR (tofacitinib) for the treatment of adults with active ankylosing spondylitis (AS) who have had an inadequate... More
Pfizer’s (PFE) $6.7B Arena Acquisition is Priced Reasonably, May Offer Additional Upside, Pfizer Making Good Use of Cash – Analyst
December 13, 2021 9:30 AM ESTEarlier today, Pfizer Inc. (NYSE: PFE) and Arena Pharmaceuticals, Inc. (Nasdaq: ARNA) announced that the companies have entered into a definitive agreement under which Pfizer will acquire Arena. Under the terms of the agreement, Pfizer will acquire all the outstanding shares of Arena for $100 per share in an all-cash transaction for a total equity value of approximately... More
Low Valuations to Drive Pharma M&A in 2022 - Analyst
December 13, 2021 8:50 AM ESTIn light of recently announced major biotech acquisitions - Dicerna (NASDAQ: DRNA) was acquired by Novo Nordisk (NYSE: NVO) for $38 (~80% premium) and Arena (NASDAQ: ARNA) now being acquired for $100/sh (~100% premium) by Pfizer... More
