Pfizer announced that it had agreed to acquire the remaining stake in Biohaven Pharmaceuticals for $ 11.6 billion, giving the pharmaceutical company full ownership.
Biohaven shares jump 75% in pre-conference trading.
Pfizer said it would pay $ 148.50 for each share it does not own in Biohaven, a figure that is almost 79% higher than the $ 83.14 close.
As announced, Biohaven shareholders, including Pfizer, will also receive shares in a newly listed company.
Pfizer and Biohaven earlier this year completed an agreement under which Pfizer acquired commercial rights to Nurtec anti-migraine drug outside the US, and acquired a 2.6% stake in Biohaven.
Source: Capital
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