Pfizer completes acquisition of Biohaven Pharmaceuticals

Pfizer has completed its acquisition of Biohaven Pharmaceuticals for approximately $11.6 billion.

Pfizer announced on Oct. 3, 2022 that it has completed its acquisition of Biohaven Pharmaceuticals, the maker of NURTEC ODT (rimegepant), a migraine therapy approved for both acute treatment and prevention of episodic migraine in adults.

The acquisition adds a calcitonin gene-related peptide (CGRP) portfolio to Pfizer, including rimegepant, zavegepant, and a portfolio of pre-clinical CGRP assets. Pfizer has acquired all outstanding shares of Biohaven not already owned by Pfizer for $149.50 per share, for a total cost of approximately $11.6 billion. Biohaven is now a wholly-owned subsidiary of Pfizer.

Immediately prior to the closing of the acquisition Biohaven completed the spin-off of a new Biohaven company that retained the company’s non-CGRP development stage pipeline compounds, Kv7 ion channel activators, glutamate modulation, myostatin inhibition platforms, preclinical product candidates, and certain corporate infrastructure assets excluded from the Pfizer acquisition. Pfizer owns approximately 3% of the new Biohaven company.

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