Pfizer to Purchase Biohaven Pharmaceuticals for $11.6 Billion

Pfizer Inc. said it is going to be purchasing the Biohaven Pharmaceutical Holding Co. for a sum of 11.6 billion dollars in cash for the purpose of gaining an approved treatment for the migraine headaches. Pfizer is also going to pay 148.50 dollars a share for all of the New Haven, which is a Connecticut-based outstanding stock of Biohaven.

For each share of the company ‘Biohaven’, the shareholders including Pfizer is also going to be receiving half a share of the New Biohaven, which has been a new publicly traded company that, it is going to retain some of the compounds in the development that does not use the CGRP, an anti-migraine technology.

Pfizer also has the resources for diversifying beyond the pandemic products that might be having the limited demand as the corona virus outbreak comes down and Pfizer is going to be gaining the drug rimegepant, which has been sold as Nurtec ODT in the United States and Vydura in the European Union and zavegepant, which is a migraine nasal spray that has been submitted to the regulators of the United States.

Pfizer is also planning to double the number of the sales representatives along with promoting the migraine the drug, which is going to be allowing it to reach 70,000 additional healthcare providers.

Angela Hwang, president of biopharmaceutical unit of Pfizer said, it mainly comes back to the scale of the machinery that they have and the depth of the expertise, which they are having in the primary care.