Inactive Instrument

Arena Pharmaceuticals

ARNA

US0400476075

Pfizer to Buy Arena Pharmaceuticals at $6.7 Billion Value

December 13, 2021 at 06:42 am EST

By Matt Grossman

Pfizer Inc. plans to acquire Arena Pharmaceuticals Inc. in a deal valuing Arena at $6.7 billion, the companies said Monday.

Pfizer plans to buy Arena's outstanding shares for $100 a share in an all-cash transaction.

Arena's shares closed on Friday at $49.94. They climbed 92% in pre-market trading Monday morning.

Pfizer shares rose 1.6%.

Arena, based in Park City, Utah, is developing drugs for gastroenterology, dermatology and cardiology, the company said.

A Pfizer executive said the acquisition would complement its inflammation and immunology work. Pfizer, based in New York City, plans to finance the transaction with cash on hand.

Write to Matt Grossman at matt.grossman@wsj.com

(END) Dow Jones Newswires

12-13-21 0641ET

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Latest news about Arena Pharmaceuticals

Longboard Pharmaceuticals, Inc. and Arena Pharmaceuticals, Inc. Executes into Second Amendment to That Certain License Agreement	22-09-19	CI
Arena Pharmaceuticals, Inc.(NasdaqGS:ARNA) dropped from S&P Biotechnology Select Industry Index	22-03-15	CI
Arena Pharmaceuticals, Inc.(NasdaqGS:ARNA) dropped from S&P TMI Index	22-03-15	CI
Arena Pharmaceuticals, Inc.(NasdaqGS:ARNA) dropped from S&P Global BMI Index	22-03-15	CI
Pfizer Completes $6.7 Billion Acquisition of Arena Pharmaceuticals	22-03-11	MT
Arena Pharmaceuticals, Inc. Announces Board Changes	22-03-11	CI
Arena Pharmaceuticals, Inc.(NasdaqGS:ARNA) dropped from NASDAQ Biotechnology Index	22-03-11	CI
Arena Pharmaceuticals, Inc.(NasdaqGS:ARNA) dropped from NASDAQ Composite Index	22-03-11	CI
Pfizer Inc. completed the acquisition of Arena Pharmaceuticals, Inc..	22-03-10	CI
Arena Pharmaceuticals, Inc. Reports Earnings Results for the Full Year Ended December 31, 2021	22-02-23	CI
Arena Pharmaceuticals Extends Q4 Loss, Reports Higher Revenue	22-02-23	MT
Earnings Flash (ARNA) ARENA PHARMACEUTICALS Reports Q4 Revenue $54,000, vs. Street Est of $0.732M	22-02-23	MT
Earnings Flash (ARNA) ARENA PHARMACEUTICALS Reports Q4 Loss $-2.54, vs. Street Est of $-2.23	22-02-23	MT
Arena Pharmaceuticals, Inc. Reports Earnings Results for the Fourth Quarter Ended December 31, 2021	22-02-23	CI
Avalo Therapeutics Promotes Neil to Chief Executive, Sullivan to Finance Chief	22-02-17	MT
North American Morning Briefing : Stock Futures -3-	22-02-11	DJ
North American Morning Briefing : Bonds Yields -3-	22-02-10	DJ
HC Wainwright Downgrades Arena Pharmaceuticals to Neutral From Buy; Price Target is $100	22-02-09	MT
Transcript : Arena Pharmaceuticals, Inc. - Shareholder/Analyst Call	22-02-02
North American Morning Briefing : Dow Futures Dip -2-	21-12-22	DJ
Cantor Fitzgerald Downgrades Arena Pharmaceuticals to Neutral From Overweight, Adjusts Price Target to $100 From $93	21-12-21	MT
PUMP / DUMP #15 : The week's gainers and losers	21-12-17
North American Morning Briefing :Stocks Seen on Hold as Fed Looms	21-12-15	DJ
Arena's PT Hiked to $100 by RBC in Line With Pfizer's Proposed Bid; Downgraded to Sector Perform as no Deal Hurdles Seen	21-12-14	MT
Citigroup Downgrades Arena Pharmaceuticals to Neutral From Buy, Adjusts Price Target to $100 From $101	21-12-14	MT

Arena Pharmaceuticals, Inc. is a biopharmaceutical company focused on delivering transformational medicines with optimized pharmacology and pharmacokinetics to patients globally. The Company's clinical programs include Etrasimod, which is an oral, selective sphingosine 1-phosphate (S1P), receptor modulator, designed to provide systemic and local cell modulation by targeting S1P receptor subtypes one, four and five. Olorinab, an orally available, potent, peripherally acting, selective, full agonist of the CB2 receptor, is an internally discovered investigational drug candidate. APD418 is an adrenergic receptor (AdrR) antagonist and cardiac myotrope designed to regulate myofilament calcium sensitivity in order to improve contractility without inducing the adverse events associated with available inotropes. Temanogrel is a peripherally acting and selective 5HT2a inverse agonist designed to inhibit serotonin (5-HT) mediated amplification of platelet aggregation and vasoconstriction.

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Pfizer to Buy Arena Pharmaceuticals at $6.7 Billion Value

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