Pfizer Announced its Acquisition of Arena Pharmaceuticals in a $6.7 Billion
Hey Tigers!
Do you notice Pfizer's new play?
Pfizer announced its acquisition of Arena Pharmaceuticals today in a $6.7 billion deal for the company’s research on inflammatory conditions affecting the stomach and intestine. Pfizer will pay Arena $100/share in cash.
Shares of Arena stock nearly doubled yesterday as the company pursues treatments for ulcerative colitis and Crohn’s disease, as well as other dermatological, gastrointestinal, and cardiac conditions — Arena’s etrasimod drug for ulcerative colitis/Crohn’s is currently in late-stage trials. The acquisition’s timing is no coincidence as Pfizer also investigates treatments for gastrointestinal conditions.
Pfizer is on a roll, lately. In addition to the obvious success of the company’s COVID-19 vaccine, Pfizer also acquired the immuno-oncology company Trillium Therapeuticslast month to scale its blood cancer research. The Arena acquisition will boost Pfizer’s proficiency in gastroenterology, dermatology, and cardiology.
If etrasimod’s late-stage data is promising, Wells Fargo analysts estimate the drug could rake in as much as $2.5 billion in sales.
Is this a successful acquisition?
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$Pfizer(PFE)$ Pfizer's acquisition of Arena Pharmaceuticals will increase Pfizer's drug arsenal in the field of gastroenterology, dermatology and cardiology. It is definitely dividend accretive. Pfizer's earnings has jumped 129% and sales rocketed to 134% to USD 24.09 Billion compared to last year. Pfizer's vaccine sales alone brought in USD12. 98 Billion in sales. Just simply amazing! Pfizer's share price has been sizzling hot too. Buy Pfizer Now as it is going to grow exponentially! Go Pfizer! 🚀🚀🚀🌙🌙🌙
@MillionaireTiger - Pfizer's acquisition of Arena