Pfizer to buy Arena Pharmaceuticals in $6.7 billion deal

Arena's shares soared on the news. They ended trading Friday $49.94 but closed on Monday at $90.08 — an 80 percent gain. Pfizer's shares also were up nearly 5 percent.

Pfizer CEO Albert Bourla introduces US President Joe Biden as the president toured a Pfizer manufacturing plant producing the coronavirus disease (COVID-19) vaccine in Kalamazoo, Michigan, US, February 19, 2021.

(photo credit: REUTERS/TOM BRENNER)

ByMIKE FREEMAN/THE SAN DIEGO UNION-TRIBUNE/TNS

DECEMBER 15, 2021 10:03

Pfizer to buy Arena Pharmaceuticals in $6.7 billion deal

Arena's shares soared on the news. They ended trading Friday $49.94 but closed on Monday at $90.08 — an 80 percent gain. Pfizer's shares also were up nearly 5 percent.

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Pfizer to buy Arena Pharmaceuticals in $6.7 billion deal

Arena's shares soared on the news. They ended trading Friday $49.94 but closed on Monday at $90.08 — an 80 percent gain. Pfizer's shares also were up nearly 5 percent.

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