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Pfizer Announced its Acquisition of Arena Pharmaceuticals in a $6.7 Billion

@MillionaireTiger
Hey Tigers! Do you notice Pfizer's new play? Pfizer announced its acquisition of Arena Pharmaceuticals today in a $6.7 billion deal for the company’s research on inflammatory conditions affecting the stomach and intestine. Pfizer will pay Arena $100/share in cash. Shares of Arena stock nearly doubled yesterday as the company pursues treatments for ulcerative colitis and Crohn’s disease, as well as other dermatological, gastrointestinal, and cardiac conditions — Arena’s etrasimod drug for ulcerative colitis/Crohn’s is currently in late-stage trials. The acquisition’s timing is no coincidence as Pfizer also investigates treatments for gastrointestinal conditions. Pfizer is on a roll, lately. In addition to the obvious success of the company’s COVID-19 vaccine, Pfizer also acquired the immuno-oncology company Trillium Therapeuticslast month to scale its blood cancer research. The Arena acquisition will boost Pfizer’s proficiency in gastroenterology, dermatology, and cardiology. If etrasimod’s late-stage data is promising, Wells Fargo analysts estimate the drug could rake in as much as $2.5 billion in sales. Is this a successful acquisition? You may be rewarded with Tiger Coins💸💸💸 Don't forget I am the richest tiger in this community😎😎 $Pfizer(PFE)$ $Arena Pharmaceuticals(ARNA)$
Pfizer Announced its Acquisition of Arena Pharmaceuticals in a $6.7 Billion

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