Pfizer and Biohaven Pharmaceutical Holding Company have entered into a final agreement where Pfizer will acquire Biohaven.
Pfizer will acquire all of Biohaven’s outstanding shares, under the terms of the agreement, not already owned by Pfizer for $148.50 per share, equating to approximately $11.6 billion in cash. Biohavent common shareholders, including Pfizer, will receive half a share of the new publicly traded company, New Biohaven.
“Pfizer will acquire Biohaven.“
The agreement includes the acquisition of Biohaven’s calcitonin gene-related peptide (CGRP) programs including Zavegepant, an intranasal spray for the acute treatment of migraine; and Rimegepant, approved in the EU under the trade name VYDURA for the acute treatment of prophylaxis of episodic migraine and migraine, as well as approved in the US under the name NURTEC ODT for the preventive treatment of episodic migraine and acute treatment of migraine; as well as a portfolio of five pre-clinical CGRP assets.
MD, Chairman and Chief Executive Officer of Biohaven, Vlad Coric, stated: "We are excited to announce Pfizer's proposed acquisition of Biohaven, recognizing the market leadership of NURTEC® ODT, our breakthrough all in one migraine therapy and the untapped potential of our CGRP franchise. Pfizer's capabilities will accelerate our mission to deliver our migraine medicines to even more patients, while the new R&D company is well-positioned to bring value to patients and shareholders by focusing on our innovative pipeline for neurological and other disorders. We believe this transaction represents significant future value creation for patients and our collective shareholders."