Pfizer to Acquire Biohaven Pharmaceuticals for $11.7 Billion

Pfizer will acquire Biohaven Pharmaceuticals, a clinical-stage biopharmaceutical company specializing in migraine treatments, for $11.7 billion.

Pfizer announced its $11.7 billion acquisition of Biohaven Pharmaceuticals, a clinical-stage biopharmaceutical company, on May 10, 2022. This acquisition will grant Pfizer the rights to rimegepant, a dual-acting migraine therapy approved in the United States for acute treatment and episodic prevention of migraine in adults. It is also approved in the European Union for acute treatment of migraine and prophylaxis of episodic migraine.

According to a company press release, this deal will also grant Pfizer the rights to zavegepant, which is on track for US approval in the second quarter of 2022 as an intranasal spray for the acute treatment of migraine; it is also in development as an oral soft gel for chronic migraine prevention. Additionally, Pfizer will acquire a portfolio of five other preclinical calcitonin gene-related peptide (CGRP) assets.

“Today’s announcement builds on our legacy of delivering breakthroughs for patients living with complex pain disorders and diseases that disproportionately impact women,” said Nick Lagunowich, global president, Pfizer Internal Medicine, in the press release. “[Rimegepant], which is already the [number one] prescribed migraine medicine in its class in the United States, coupled with Biohaven’s CGRP pipeline, offers hope for patients suffering from migraine worldwide.”

“We are excited to announce Pfizer’s proposed acquisition of Biohaven, recognizing the market leadership of [rimegpant], our breakthrough all in one migraine therapy, and the untapped potential of our CGRP franchise,” said Vlad Coric, chairman and CEO, Biohaven, in the press release. “Pfizer’s capabilities will accelerate our mission to deliver our migraine medicines to even more patients, while the new R&D company is well positioned to bring value to patients and shareholders by focusing on our innovative pipeline for neurological and other disorders. We believe this transaction represents significant future value creation for patients and our collective shareholders.”

Source: Pfizer