Pfizer Inc. completes acquisition of Arena Pharmaceuticals
Pfizer Inc. (Pfizer) completed the acquisition of Arena Pharmaceuticals in March 2022. Arena Pharmaceuticals is a clinical stage company working on developing therapies for the treatment of several immune-inflammatory diseases. The acquisition adds a strong portfolio in development-stage therapeutic candidates across many different medical areas. Arena’s portfolio will join Pfizer’s Inflammation and Immunology therapeutic area. Pfizer in particular is hoping the acquisition will accelerate the clinical development of etrasimod, a drug aimed at treating immune-mediate and inflammatory diseases.
COVID|M&AIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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