Pfizer has announced that it has reached an agreement to buy the shares of Trillium Therapeutics that he does not yet own for 2,260 million dollars. After the news broke, the cancer drug developer's shares have soared almost 200%.
The drugmaker, which acquired a $ 25 million stake in Trillium last year, buy the remaining outstanding shares at $ 18.50 each, which represents a premium of 203.8% over the last closing price of the share. In September 2020, Jeff Settleman, Senior Vice President and Chief Scientific Officer of Pfizer's Oncology Research and Development Group, was appointed to the Trillium Scientific Advisory Board.
"The proposed acquisition of Trillium builds on our strong track record of leadership in oncology, improving our portfolio of hematology as we strive to improve outcomes for people living with blood cancers around the world, "said Pfizer Oncology President Andy Schmeltz.
For his part, Trillium CEO Jan Skvarka highlighted that with the global reach and broad capabilities of Pfizer, laboratory programs will reach patients more quickly … We believe this is a good outcome for patients and our stakeholders. "
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