Shots:

• Pfizer to acquire all the outstanding shares of Arena for $100/share in cash making a total equity value of ~ $6.7B representing a premium of 100% to the Friday closing price
• The acquisition complements Pfizer’s capabilities and expertise in inflammation and immunology to accelerate the clinical development of etrasimod for the treatment of immuno-inflammatory diseases
• Arena’s pipeline includes 2 cardiovascular assets i.e., temanogrel is currently in P-II study for MVO & SSc while APD418 in P-II study for AHF & has built a robust development program for etrasimod, including 2 P-III studies in UC, a P-II/II program in CD, a P-III study in AD & ongoing P-II studies in EoE & AA

Ref: Pfizer | Image: Arena