Biohaven

Biohaven is a biopharmaceutical company that develops drugs aimed at treating neurological diseases.

History

2022: Pfizer bought Biohaven for $11.6 billion

In early May 2022, Pfizer announced the purchase of migraine drug manufacturer Biohaven for $11.6 billion. As a result of the transaction, Pfizer gains control of a large portfolio of peptides related to the calcitonin gene. The purchase is expected to be completed in early 2023.

Biohaven's business in the field of oral inhibitor peptides will be able to grow to more than $6 billion in peak sales, said Aamir Malik, Pfizer's director of business innovation. According to him, this will contribute to the company's existing plan to increase revenues by 2030, taking into account risk by $25 billion due to business development. Marketed migraine drug Nurtec will be the main target of the deal.

Pfizer bought migraine drug manufacturer for $11.6 billion

As of May 2022, Pfizer will pay $148.5 apiece for the remainder of Biohaven's shares, which represents a 33% premium on Biohaven's volume-weighted average sale price since 2019. In addition to Nurtec and five preclinical candidate peptides, Biohaven reported that in March 2022 it filed an application with the Food and Drug Administration (FDA) for a supervisor as an intranasal spray to treat acute migraine.

{{quote 'We believe Pfizer is uniquely positioned to help the portfolio reach its full potential, given our leading scope and capabilities, including comprehensive interaction with primary care physicians, specialists and systems health care, providing the right information one at the right time, "said Pfizer Internal Medicine President Nika Lagunovich. }} Not all Biohaven joins Pfizer. Projects that are not part of the peptide program will remain with the company. Existing Biohaven shareholders, including Pfizer, will receive 0.5 new shares for each old share of the company. The new company will retain the name of Biohaven and its CEO, as well as other executives. After the acquisition, the new Biohaven company will be eligible for royalties from sales of Nurtec and Zavegepant in the United States worth more than $5.25 billion.^[1]

Notes