Pfizer agreed to acquire Arena Pharmaceuticals for $6.7 billion, bolstering the pharmaceutical giant’s pipeline of medicines for inflammatory bowel diseases
for $6.7 billion, bolstering the pharmaceutical giant’s pipeline of medicines for inflammatory bowel diseases.
Pfizer will gain Arena’s lead drug, etrasimod, a pill in late-stage studies in ulcerative colitis; results are expected in the first quarter of next year, according to analysts. Data from a midstage study in Crohn’s disease are expected in the second quarter of 2022. The drug could have global ulcerative colitis sales of $900 million by 2026, BMO Capital Markets said in a note to clients.
If approved, Arena’s etrasimod would compete with Bristol-Myers Squibb & Co.’s Zeposia, a pill with a similar biological function targeting immune cell receptors. Zeposia was approved in May for ulcerative colitis by the Food and Drug Administration. Global Zeposia sales are forecast to reach $2.9 billion in 2025, according to SVB Leerink, an investment bank.
Arena, based in Park City, Utah, has reinvented itself in recent years after an anti-obesity drug it developed flopped in the marketplace. After selling rights to the drug, Belviq, toin 2017, Arena assembled a new pipeline aimed at inflammatory diseases such as Crohn’s disease and eczema. Eisai pulled the drug off the market early last year because of safety risks.
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