Pfizer acquires drugmaker Arena for USD 6.7 billion to address unmet needs
Pfizer declared that it is acquiring Arena Pharmaceuticals, a drug company specializing in inflammation and immunology, for almost USD 7 billion. The pharma giant said it would finance the agreement, worth USD 6.7 billion, with cash on hand. It will reimburse USD 100 per share of Arena stock and anticipates the contract to close early next year. Officials said the boards of both companies have already approved the acquisition.
Arena is a clinical-stage company that develops therapies for immuno-inflammatory diseases and gastroenterology, dermatology, and cardiology conditions. Pfizer CEO ...
