Pfizer: agreement to acquire Biohaven
(CercleFinance.com) - Pfizer has announced a definitive agreement to acquire Biohaven, the maker of a novel dual-action treatment approved for the acute treatment and episodic prevention of migraine in adults.
The pharmaceutical giant will pay a total of about 11.6 billion dollars, and will make payments at closing to settle Biohaven's debts and for the repurchase of all of Biohaven's redeemable preference shares.
Biohaven shareholders will receive 148.50 dollars per share in cash, plus 0.5 share of a newly listed company that will retain certain Biohaven pipeline products. Subject to customary conditions, the transaction is expected to close early next year.
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