Forget buyer’s remorse, Pfizer is likely feeling pretty good about its $11.6 billion Biohaven takeover deal following reports of a 57% sales boost for migraine med Nurtec.
Biohaven reported in Q2 results on Friday that it’s cleared the necessary antitrust hurdles to move forward with the sale of its calcitonin gene-related peptide (CGRP) assets to Pfizer. However, because the company is “focused on workstreams related to the closing” of the deal, it did not host a call with analysts and investors.
The company’s stock $BHVN was down less than 1% on Friday, pricing in at $146.96 per share.
The Pfizer deal is expected to close by “early 2023,” according to a news release. Aside from snagging the blockbuster migraine drug, Pfizer also gets zavegepant, an intranasal migraine therapy, and five preclinical assets in the deal covering the CGRP portfolio.