Pfizer to Buy Rest of Biohaven for $11.6 Billion

Pfizer agreed to buy the rest of Biohaven Pharmaceutical Holding for about $11.6 billion, deploying its pile of cash earned from Covid-19 sales to acquire a new migraine drug.

Pfizer said it would pay $148.50 a share in cash for the Biohaven shares that it doesn’t already own, a nearly 79% premium to Monday’s closing price of $83.14 for the New Haven, Conn., drugmaker.

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