Pfiz­er buys Bio­haven for $11.6B, go­ing all in on CGRP mi­graine drug port­fo­lio

Pfiz­er has found a use for a chunk of its Covid wind­fall, agree­ing to buy Bio­haven and its mi­graine drug Nurtec for $11.6 bil­lion.

The move to ac­quire the biotech at $148.50 a share — a 33% pre­mi­um over a 3-month av­er­age of the share price — hands Pfiz­er boast­ing rights to the lead mi­graine drug in the US. And it fol­lows on Pfiz­er’s $500 mil­lion deal to bag ex-US rights to the drug, when the phar­ma gi­ant ac­quired a small, 2.6% stake in the biotech at $173 a share.

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