Pfizer buys pharmaceutical company that makes heart medication to solve the problem caused by mRNA vaccines
Big Pharma company Pfizer recently bought another pharmaceutical company specializing in producing heart medication. Coincidentally, some of these heart medications can counteract the heart problems caused by Pfizer’s Wuhan coronavirus (COVID-19) mRNA vaccine.
Pfizer recently signed an agreement with Arena Pharmaceuticals to purchase the company. Arena is a clinical-stage biopharmaceutical firm based in San Diego that specializes in developing immuno-inflammatory treatments. At the time of its acquisition, Arena was also expanding its capabilities “to study cardiovascular conditions like acute heart failure and microvascular obstruction.”
Arena’s current portfolio indicates that it has several development-stage pharmaceuticals developed for gastroenterological, dermatological and – most importantly for Pfizer – cardiological use.
Pfizer will acquire millions of outstanding shares for Arena for the price of $100 per share, more than double the company’s stock price of $49.94 when the market closed on Friday, Dec. 17. Since the announcement of the acquisition, Arena’s stock price has soared to $95.95 per share.
To fund the acquisition of Arena, Pfizer is dipping into the nearly $28 billion in cash it has received from the sale of its mRNA COVID-19 vaccine. The boards of directors of both companies have unanimously approved the transaction although Pfizer’s acquisition still has to be cleared by regulators.
“Pfizer’s capabilities will accelerate our mission to deliver our important medicines to patients,” said Arena President and Chief Executive Officer Amit Munshi. “We believe this transaction represents the best next step for both patients and shareholders.”
If Arena terminates the acquisition deal, it will owe Pfizer a termination fee of $350 million.
“The proposed acquisition of Arena complements our capabilities and expertise in inflammation and immunology, a Pfizer innovation engine developing potential therapies for patients with debilitating immuno-inflammatory diseases with a need for more effective treatment options,” said Mike Gladstone, global president and general manager of Pfizer’s immunology and inflammation department.
Arena has devoted a lot of the company’s resources towards etrasimod, a drug that has demonstrated a favorable risk-benefit profile in studies for patients with ulcerative colitis.
But Arena is also developing two drugs that are targeted towards solving cardiovascular concerns. This may be more important for Pfizer as more and more people experience heart complications due to the company’s vaccine.
The first of these two is temanogrel, which is currently in Phase II trials. Temanogrel is expected to be used for the treatment of microvascular obstructions and Raynaud’s phenomenon, a problem that causes decreased blood flow due to spasms of blood vessels.
The second is APD418, which is also currently in Phase II trials. APD418 is intended for people who experience acute heart failure. The description of the drug on the company’s website claims that APD418 will improve cardiac contractility, or the ability of the heart to contract, with minimal negative effects on heart rate and blood pressure.
Aside from drug development, Arena Pharmaceuticals has an existing partnership with United Therapeutics, a biotechnology company with headquarters in Maryland and North Carolina, that has focused a lot of its research efforts on pulmonary arterial hypertension, another cardiovascular complication linked to Pfizer’s COVID vaccine.
@NaturalNewsMedia
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Big Pharma company Pfizer recently bought another pharmaceutical company specializing in producing heart medication. Coincidentally, some of these heart medications can counteract the heart problems caused by Pfizer’s Wuhan coronavirus (COVID-19) mRNA vaccine.
Pfizer recently signed an agreement with Arena Pharmaceuticals to purchase the company. Arena is a clinical-stage biopharmaceutical firm based in San Diego that specializes in developing immuno-inflammatory treatments. At the time of its acquisition, Arena was also expanding its capabilities “to study cardiovascular conditions like acute heart failure and microvascular obstruction.”
Arena’s current portfolio indicates that it has several development-stage pharmaceuticals developed for gastroenterological, dermatological and – most importantly for Pfizer – cardiological use.
Pfizer will acquire millions of outstanding shares for Arena for the price of $100 per share, more than double the company’s stock price of $49.94 when the market closed on Friday, Dec. 17. Since the announcement of the acquisition, Arena’s stock price has soared to $95.95 per share.
To fund the acquisition of Arena, Pfizer is dipping into the nearly $28 billion in cash it has received from the sale of its mRNA COVID-19 vaccine. The boards of directors of both companies have unanimously approved the transaction although Pfizer’s acquisition still has to be cleared by regulators.
“Pfizer’s capabilities will accelerate our mission to deliver our important medicines to patients,” said Arena President and Chief Executive Officer Amit Munshi. “We believe this transaction represents the best next step for both patients and shareholders.”
If Arena terminates the acquisition deal, it will owe Pfizer a termination fee of $350 million.
“The proposed acquisition of Arena complements our capabilities and expertise in inflammation and immunology, a Pfizer innovation engine developing potential therapies for patients with debilitating immuno-inflammatory diseases with a need for more effective treatment options,” said Mike Gladstone, global president and general manager of Pfizer’s immunology and inflammation department.
Arena has devoted a lot of the company’s resources towards etrasimod, a drug that has demonstrated a favorable risk-benefit profile in studies for patients with ulcerative colitis.
But Arena is also developing two drugs that are targeted towards solving cardiovascular concerns. This may be more important for Pfizer as more and more people experience heart complications due to the company’s vaccine.
The first of these two is temanogrel, which is currently in Phase II trials. Temanogrel is expected to be used for the treatment of microvascular obstructions and Raynaud’s phenomenon, a problem that causes decreased blood flow due to spasms of blood vessels.
The second is APD418, which is also currently in Phase II trials. APD418 is intended for people who experience acute heart failure. The description of the drug on the company’s website claims that APD418 will improve cardiac contractility, or the ability of the heart to contract, with minimal negative effects on heart rate and blood pressure.
Aside from drug development, Arena Pharmaceuticals has an existing partnership with United Therapeutics, a biotechnology company with headquarters in Maryland and North Carolina, that has focused a lot of its research efforts on pulmonary arterial hypertension, another cardiovascular complication linked to Pfizer’s COVID vaccine.
@NaturalNewsMedia
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