Pfizer completed the acquisition of Arena Pharmaceuticals for $6.7bn.

Pfizer, a pharmaceutical and biotechnology corporation, completed the acquisition of Arena Pharmaceuticals, a clinical stage company developing potential therapies for the treatment of several immuno-inflammatory diseases, for $6.7bn. “We are excited to add the impressive experience and pipeline of Arena Pharmaceuticals to Pfizer’s Inflammation and Immunology therapeutic area, helping us further our purpose of developing breakthroughs to change the lives of those with immuno-inflammatory diseases. In particular, we’re hopeful that we can accelerate clinical development of etrasimod successfully to have a positive impact on those living with these debilitating diseases,” Mike Gladstone, Pfizer Inflammation and Immunology Global President & General Manager.