Shots:
Pfizer to acquire all outstanding shares of Biohaven for $148.50/share in cash making a total deal value of ~$11.6B, representing a premium of 78.6% to Biohaven’s last closing price of $83.14. The transaction is expected to be close in early 2023
Biohaven shareholders including Pfizer to receive 0.5 of a share of a new publicly-traded company (New Biohaven) that retains Biohaven’s non-CGRP pipeline compounds. The acquisition expands Pfizer’s pipeline for further growth through 2030 & beyond
Biohaven’s CGRP programs include rimegepant & zavegepant for migraine. Additionally, New Biohaven to receive royalties from Pfizer for rimegepant & zavegepant in the US, if sales exceed ~$5.25B
Ref: Businesswire | Image: Pfizer
