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Pfizer to acquire cancer drugmaker Trillium Therapeutics for $2.3 bn

Pfizer will pay $18.50 a share for Cambridge, Massachusetts-based Trillium, the companies said Monday in a statement.

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A person walks past a Pfizer logo amid the coronavirus disease pandemic in the Manhattan borough of New York City (Photo: Reuters)

John Lauerman | Bloomberg
Pfizer Inc., maker of a top-selling Covid vaccine, will buy all the shares of Trillium Therapeutics Inc. it doesn’t own, gaining the immune cancer drugmaker for an equity value of $2.26 billion. 

Pfizer will pay $18.50 a share for Cambridge, Massachusetts-based Trillium, the companies said Monday in a statement. The price represents a 118% premium to the stock’s 60-day weighted average price. Shares of Trillium nearly tripled in trading before U.S. markets opened, while Pfizer rose 3.7%. 

Pfizer invested $25 million in Trillium in September as part of its Breakthrough Growth Initiative, when Jeff Settleman, senior vice president of Pfizer’s oncology research

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