Pfizer to Acquire Biohaven for $11.6 Billion to Expand Migraine Portfolio

On May 10, Pfizer and Biohaven Pharmaceutical (hereinafter referred to as "Biohaven") announced that the two companies had reached an agreement, under which Pfizer would acquire Biohaven for a total of approximately $11.6 billion. The company's CGRP-targeted migraine therapy, Nurtec ODT, has been approved in the United States for the acute treatment and preventive treatment of migraine in adults.

Global Migraine SituationApproximately 1 billion people worldwide suffer from migraines, 75% of whom are women. The World Health Organization lists migraines as one of the top ten disabling medical conditions. There is a significant unmet need for innovative acute and preventive treatments, as a considerable portion of migraine patients are dissatisfied with current standard treatments due to lack of efficacy or issues related to safety or tolerability.

According to the terms of the agreement, Pfizer will acquire Biohaven's Calcitonin Gene-Related Peptide (CGRP) program, including: rimegepant (U.S. trade name: Nurtec ODT; EU trade name: Vydura); zavegepant – intended for acute intranasal spray treatment of migraine and being developed as an oral soft capsule for the prevention of chronic migraine; and five preclinical programs targeting CGRP.

Nurtec ODT reversibly blocks the CGRP receptor, thereby inhibiting the cascade of events leading to migraine attacks and targeting the root cause of migraines. Nurtec ODT was approved by the U.S. FDA in February 2020 for the acute treatment of migraines and in May 2021 for the preventive treatment of episodic migraines. A single dose of 75 mg Nurtec ODT provides rapid pain relief, significant pain reduction, and restoration of normal function, with effects lasting up to 48 hours in some patients.

Zavegepant is a third-generation, high-affinity, selective, and structurally unique small molecule CGRP receptor antagonist developed by Biohaven, available in both intranasal and oral formulations. In a randomized, controlled Phase 2/3 clinical trial, zavegepant demonstrated statistically significant superiority over placebo in the co-primary endpoints (pain freedom at 2 hours and freedom from the patient’s most bothersome symptom) for the acute treatment of migraine. Biohaven plans to submit a new drug application for zavegepant to the U.S. FDA in the second quarter of 2022.

Image Source: Pfizer Official Website

Nick Lagunowich, Global President of Pfizer Internal Medicine, stated: "Nurtec ODT and Biohaven's CGRP pipeline offer hope to migraine patients worldwide. We believe Pfizer is uniquely positioned to help the portfolio reach its full potential."

References:

[1]Pfizer to Acquire Biohaven Pharmaceuticals. Retrieved 2022-05-10, from https://www.businesswire.com/news/home/20220510005676/en

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