ARTICLE | Deals
With vaccine cash mounting, Pfizer gets IBD therapy via $6.7B Arena buy
Deal sees Arena reap the benefit of its decision to prioritize estrasimod, as Pfizer signals it may not be done buying
December 14, 2021 12:37 AM UTC
Decades into its existence, Arena’s choice to prioritize IBD candidate etrasimod over other programs led the biotech into its final chapter before Pfizer agreed to acquire it for $6.7 billion on Monday.
The deal gives Pfizer Inc. (NYSE:PFE) a pipeline-in-a-product that could soon become a best-in-class therapy for ulcerative colitis, with more indications to follow. The agreement also shows that the pharma is willing to spend at a premium, with its balance sheet accruing cash rapidly from sales of its COVID-19 vaccine...