Pfizer (NYSE:PFE) today announced that it has entered into an agreement to acquire Biohaven Pharmaceutical Holding Company Ltd. (NYSE:BHVN), which is best known for Nurtec ODT (rimegepant), a dual-acting migraine therapy.
Pfizer will pay $148.50 per share in cash to acquire Biohaven, totaling approximately $11.6 billion.
Nurtec generated $462 million in revenue in 2021. Pfizer anticipates that the acquisition will fuel continued growth through the remainder of the decade and beyond.
Evaluate Pharma projects that Nurtec could generate $2 billion in international sales by 2026.
Nurtec is a calcitonin gene-related peptide (CGRP) agonist that has emerged as a popular preventive treatment for migraines with or without aura.
Notable competitors in the class include Qulipta (atogepant) from AbbVie (NYSE:ABBV and Ubrelvy (ubrogepant) from AbbVie subsidiar…