STAT+: Pharmalittle: Pfizer to pay $6.7 billion for Arena and a bowel disease drug; ASH brings flood of data readouts
Good morning, everyone, and welcome to another working week. We hope the weekend respite was relaxing and invigorating, because that oh-so familiar routine of online calls, masked-up meetings, and deadlines has predictably returned. To cope, yes, we are brewing cups of stimulation in our cafeteria. Our choice today is pumpkin spice; we hoarded a stash for such moments. Feel free to join us. Remember, no prescription is required, which means no rebates are involved. Meanwhile, here are a few tidbits to help you on your journey today. We hope you conquer the world, and please do remain in touch. We treasure your postcards and telegrams. …
Pfizer (PFE) has agreed to acquire Arena Pharmaceuticals (ARNA) in a $6.7 billion all-cash deal to expand its cancer and inflammatory disease treatment pipeline, Reuters writes. This is the latest deal Pfizer has struck this year to expand after spending about $2.2 billion last month to acquire immuno-oncology company Trillium Therapeutics to strengthen its arsenal of blood cancer therapies. Arena is developing several treatments for gastroenterology, dermatology, and cardiology. Its lead candidate, etrasimod, is being tested in a late-stage study in ulcerative colitis, as well as a mid- to late-stage study in Crohn’s disease.
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