Arena Pharmaceuticals, Inc. and Pfizer Inc. have entered into a definitive agreement under which Pfizer will acquire Arena. The boards of directors of both companies have unanimously approved the transaction.
Under the terms of the agreement, Pfizer will acquire all the outstanding shares of Arena for $100 per share in an all-cash transaction for a total equity value of approximately $6.7 billion.
Arena is a clinical-stage company developing innovative potential therapies for the treatment of several immuno-inflammatory and cardiovascular diseases.
Mike Gladstone, Global President & General Manager, Pfizer Inflammation and Immunology said:
“The proposed acquisition of Arena complements our capabilities and expertise in Inflammation and Immunology and developing potential therapies for patients with debilitating immuno-inflammatory diseases “
A spokesperson for Arena stated: “The proposed acquisition allows us to utilize Pfizer’s established infrastructure across global markets and expertise in Inflammation and Immunology, as well as Cardiology, to accelerate and advance Arena’s pipeline. We believe this transaction represents the best next step for the company and will potentially allow us to more rapidly address unmet need for a broader number of patients with inflammatory and cardiovascular diseases.”
The current Pfizer mRNA Covid vaccination drive being rolled out globally by governments is seeing a large number of adverse events being reported and recorded in each countries vaccine adverse events database, including the World Health Organization’s Vigiaccess database. These adverse events include many cardiovascular and inflammatory issues.