Pfizer has finalized a $ 6,7 billion acquisition of Arena Pharmaceuticals, according to a regulatory filing on Monday.
Pfizer will take over all of Arena's outstanding shares for $ 100 per share, representing a 100,2% premium at Arena's latest closing price.
Arena develops various treatments for gastroenterology, dermatology and cardiology. The candidate for the treatment of ulcerative colitis of the person in charge of drug development, etrasimod, is in a final stage study.
Pfizer said it expects to finance the cash transaction in cash.
Pfizer's financial advisors for the transaction are BofA Securities and Centerview Partners LLC, while Guggenheim Securities LLC and Evercore Group LLC consulted Arena.