Pfizer to acquire Arena Pharmaceuticals for $6.7B

Pfizer is acquiring Arena Pharmaceuticals, a company developing potential treatments for several immuno-inflammatory diseases.

Pfizer will acquire Arena for $100 per share in an all-cash transaction valued at about $6.7 billion, the companies said in a Dec. 13 news release. 

Arena's lead drug candidate is etrasimod, an oral treatment being tested to treat inflammatory bowel diseases.

"The proposed acquisition of Arena complements our capabilities and expertise in Inflammation and Immunology, a Pfizer innovation engine developing potential therapies for patients with debilitating immuno-inflammatory diseases with a need for more effective treatment options," Mike Gladstone, the global president and general manager of Pfizer's inflammation and immunology division, said in a statement. "Utilizing Pfizer’s leading research and global development capabilities, we plan to accelerate the clinical development of etrasimod for patients with immuno-inflammatory diseases."

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