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PFIZER TO PAY US$6.7B IN CASH FOR ARENA PHARMACEUTICALS ACQUISITION

14 December 202114 December 2021


USA – Pfizer, the world’s largest pharmaceutical company, has announced that it
had reached an agreement to buy drug developer Arena Pharmaceuticals for US$6.7
billion in cash.

Pfizer will be able to develop promising treatments for diseases affecting the
stomach and intestine as a result of this latest development.

Pfizer intends to buy Arena for US$100 per share, which is twice the company’s
closing stock price on Friday.

Arena’s value has increased by more than 80% since the announcement of the deal,
and it is now trading at US$90.09 per share, as reported by sports.yahoo.com.

In order to expand its treatment pipeline, Pfizer has been acquiring companies.
In a US$2.22 billion deal last month, the company acquired immuno-oncology
company Trillium Therapeutics in order to strengthen its arsenal of blood cancer
therapies.

According to Pfizer, Arena will strengthen its expertise in inflammation and
immunology. It intends to fund the acquisition with cash on hand.

Arena is currently working on a variety of treatments for gastroenterology,
dermatology, and cardiology. Etrasimod, the company’s lead drug, is currently
being tested in a late-stage study for ulcerative colitis as well as a
mid-to-late stage study for Crohn’s disease.

Both are inflammatory bowel diseases that result in ulcers in the digestive
tract. A pill-based treatment for the virus could be approved soon.



Pfizer is particularly interested in Arena Pharmaceuticals’ experimental Crohn’s
treatment Etrasimod, a highly selective, once-daily oral sphingosine 1-phosphate
(S1P) receptor modulator.

Because of its ability to provide systemic and local effects on specific immune
cell types, Etrasimod has the potential to treat a variety of immune-mediated
inflammatory diseases, including ulcerative colitis, eosinophilic esophagitis,
atopic dermatitis, and alopecia areata.

Currently, etrasimod is in two Phase III studies for ulcerative colitis, one for
Crohn’s disease, and one for atopic dermatitis.

Pfizer executive Mike Gladstone said, “The proposed acquisition of Arena
complements our capabilities and expertise in inflammation and immunology.” He
added that the company intends to accelerate the clinical development of
etrasimod.

Pfizer has also stated that it expects Comirnaty, its vaccine, to generate
approximately US$36 billion in sales this year.

The pharmaceutical company has also developed a potential pill treatment for the
virus, which could be approved soon.

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Arena Pharmaceuticals, atopic dermatitis, Cominarty, Healthcare Delivery,
Pfizer, USA


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 * ShanMukha Innovations unveils India-made diagnostic kit for Sickle-Cell
   Anemia
 * Astellas Pharma launches novel treatment for diabetic adults with CKD in
   Egypt
 * UNFPA enhances women’s access to reproductive healthcare with contraceptive
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 * SFDA certifies Venus Remedies’ unit in Baddi with GMP standard
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