In addition to drug development, Arena Pharmaceuticals has an existing partnership with United Therapeutics, a Maryland and North Carolina-based biotech company that has focused much of its research efforts on pulmonary arterial hypertension, another cardiovascular complication associated with Pfizer`s COVID vaccine. Etrasimod is an oral selective modulator of sphingosine-1-phosphate receptors (SIP) currently in development for a number of immuno-inflammatory diseases, including gastrointestinal and dermatological diseases. According to a press release from the company, a recent Phase II study of the effects of etrasimod on ulcerative colitis showed that most patients who achieved clinical response, clinical remission, or endoscopic improvement at week 12 had sustained or improved effects with etrasimod at week 46. NEW YORK & PARK CITY, Utah–(BUSINESS WIRE)–Pfizer Inc. (NYSE: PFE) and Arena Pharmaceuticals, Inc. (Nasdaq: ARNA) today announced that the companies have entered into a definitive agreement under which Pfizer will acquire Arena, a clinical-stage company developing innovative potential therapies for the treatment of multiple immuno-inflammatory diseases. Under the terms of the agreement, Pfizer will acquire all outstanding shares of Arena for $100 per share in a cash transaction for a total equity value of approximately $6.7 billion. The boards of directors of both companies unanimously approved the transaction. Mike Gladstone, global president and chief executive officer of Pfizer Inflammation and Immunology, said the acquisition of Arena Pharmaceuticals is in line with Pfizer`s goals in these areas. The transcript and replay of the webcast conference call will be available on Pfizer`s website at www.pfizer.com/investors within 24 hours of the end of the live conference call and will be available for at least 90 days.
Arena`s Board of Directors offices are located in Park City, Utah. But one of the company`s largest clinical centers is located in San Diego. For years, Arena had its headquarters locally, but moved when it was repositioned after an obesity drug failed to gain market power. (Nature News) The large pharmaceutical company Pfizer recently bought another pharmaceutical company specializing in the production of heart drugs. Coincidentally, some of these heart medications can counteract heart problems caused by Pfizer`s Wuhan coronavirus (COVID-19) mRNA vaccine. Pfizer is uniquely positioned to acquire more assets. The company is inundated with cash, with its coronavirus vaccine on track to generate about $36 billion in sales this year, a record for a pharmaceutical product. Pfizer`s COVID-19 pill, which is currently being tested in the United States, is also poised to become a blockbuster drug. And biotech valuations have fallen sharply in recent months, with the sector lagging behind the overall market. Sigurdson also pointed out how convenient it was for Arena to be acquired at a time when Pfizer is under scrutiny and controversy due to the impact of the company`s COVID-19 vaccine on the hearts of people around the world. In addition, Arena`s pipeline includes two phase cardiovascular compounds, temanogrel and APD418. Temanogrel is currently in Phase 2 for the treatment of microvascular obstruction and Raynaud`s phenomenon resulting from systemic sclerosis.
APD418 is currently in Phase 2 for acute heart failure. Pfizer recently signed an agreement with Arena Pharmaceuticals to acquire the company. Arena is a clinical-stage biopharmaceutical company based in San Diego that specializes in the development of immunoinflammatory therapies. At the time of the acquisition, Arena also expanded its capabilities « to study cardiovascular diseases such as acute heart failure and microvascular obstruction. » One of the most common side effects caused by the Pfizer vaccine, especially in young men, is myocarditis. While the mainstream media has focused on Moderna`s COVID-19 mRNA vaccine and its links to myocarditis, Pfizer`s vaccine has also caused this life-threatening heart disease. To watch and listen to the webcast, visit the Pfizer website in www.pfizer.com/investors or directly at pfizer.rev.vbrick.com/#/events/0bb8ada2-8ac5-4cd6-988b-cf4a6ddffa40. Information on accessing and pre-registering for the webcast will be available today at www.pfizer.com/investors. Participants are advised to register in advance prior to the conference call. Pfizer announced this in December. 13, 2021, that it entered into a definitive agreement to acquire Arena Pharmaceuticals, a clinical-stage company specializing in therapies for the treatment of immunoinflammatory diseases, for $6.7 billion. This acquisition gives Pfizer access to Arena`s diversified portfolio of drugs, in particular etrasimod, a drug candidate for the treatment of inflammatory and immune-mediated diseases. Arena has invested much of the company`s resources in etrasimod, a drug that has shown a favorable risk-benefit profile in studies for patients with ulcerative colitis.
This plan worked. Etrasimod showed enough promise during Phase 2 testing in 2018 that Arena is steadily increasing its value and launching several more studies. The company will now sell at a price close to the order of $111 per share at which it traded shortly after Belviq`s U.S. dollar. Approval nearly 10 years ago was avoided while avoiding the « persistent trade uncertainties » that would have brought etrasimod to the market only, RBC Capital Markets analyst Kennen MacKay wrote in a note to clients. No Offer or Solicitation This announcement is for informational purposes only and is not intended to do so and does not constitute a solicitation of an offer or a solicitation of an offer or a solicitation to buy, acquire, subscribe, sell or dispose of any securities, or the solicitation of a vote or approval in any jurisdiction. pursuant to the proposed transaction or otherwise, there will also be no sale, issue or transfer of securities in any jurisdiction that violates applicable law. He mentioned the fact that Taiwan stopped giving the second dose of Pfizer`s vaccine to children aged 12 to 17 after a staggering number of people developed heart complications after vaccination. The ongoing wave of mass vaccination is now targeting children who are at particularly high risk of developing debilitating and potentially long-term heart disease if they receive the vaccine. « [The vaccine] could significantly shorten their lifespan, » Sigurdson said.
Pfizer will acquire millions of outstanding shares for Arena at a price of $100 per share, more than double the company`s share price of $49.94 at the close of business on Friday, Dec. 17. Since the announcement of the acquisition, Arena`s share price has risen to $95.95 per share. In the meantime, however, the company has found a second life. It reduced its losses by selling Belviq to its partner Eisai in January 2017 – three years before a post-market trial linked the drug to higher cancer rates. Meanwhile, Arena has invested its resources in etrasimod and other drugs for inflammation, cardiovascular disease, skin conditions, etc. The second is APD418, which is also currently in Phase II. APD418 is intended for people with acute heart failure. The description of the drug on the company`s website states that APD418 improves cardiac contractility, or the heart`s ability to contract, with minimal negative effects on heart rate and blood pressure.
In addition, Arena`s portfolio includes two early-stage cardiovascular treatments. The first, trogemon, is in phase 2 trials to treat minor arterial obstructions and Raynaud`s phenomenon, which can lead to numbness of the fingers, toes and other extremities. Another candidate, APD418, is in Phase 2 for acute heart failure. But Arena is also developing two drugs aimed at solving cardiovascular problems. This could be more important for Pfizer as more and more people suffer from heart complications due to the company`s vaccine. .
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