Pfizer wagers $1.2B on Biohaven's lead migraine drug — and picks up a next-gen candidate — as marketing wars heat up
In the year and a half since Biohaven landed an FDA approval for Nurtec, the New Haven-based biotech has worked hard to overcome what it called “perhaps the greatest challenge of any new drug launch with the emergence of the pandemic” to boost sales of the migraine drug above Wall Street expectations.
There was just one question analysts kept asking: What about markets outside the US?
Vlad Coric and his team finally had an answer Tuesday morning, unveiling a sweeping commercialization pact with Pfizer that nets it $500 million upfront — $150 million of which is cash, while the other $350 million will be traded for Biohaven equity at a 25% market premium.
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