Pfizer to acquire Arena Pharmaceuticals at 100% premium in $6.7-bn deal

Pfizer Inc. agreed to buy Arena Pharmaceuticals Inc. in a deal valued at about $6.7 billion, gaining potential therapies targeting immuno-inflammatory diseases.

The U.S. drugmaker will pay $100 a share in an all-cash transaction for San Diego-based Arena, bringing assets in gastroenterology, dermatology and cardiology, according to a statement Monday. That’s about double Arena’s Friday closing price. 

Pfizer, collaborator with BioNTech SE on the widely used Comirnaty Covid-19 vaccine, said the deal complements its capabilities in inflammation and immunology and will contribute to growth through 2025 and beyond.