Pfizer To Put Big Marketing Muscle Behind Migraine With Biohaven Purchase
Pfizer’s $11.6bn acquisition of the company brings it full rights to the oral migraine drug Nurtec ODT and nasal spray zevegepant, with aims to build a $6bn migraine franchise.
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Pfizer has reached a deal to buy Global Blood Therapeutics for $5.4bn, gaining the sickle cell therapy Oxbryta and building on efforts to reach underserved patient groups.
During Q2, biopharma merger and acquisition value reached $25.4bn and drew in $27.3bn in potential deal value from alliances. Device company M&A values reached $2.7bn, while in vitro diagnostic firms and research tools players completed M&A activity that totaled $534.3m.
Public Company Edition: William Blair analysts note that stock prices are rising due to a Q2 boost in dealmaking after a lull in Q1. Nevertheless, layoffs and portfolio prioritizations are ongoing, including at X4 Pharmaceuticals, but others have raised cash following good news, like Revolution Medicines.