HomeTrading NewsPfizer to Buy Arena Pharmaceuticals in $6.7 Billion Deal. Arena Stock Soars.

Pfizer to Buy Arena Pharmaceuticals in $6.7 Billion Deal. Arena Stock Soars.

Pfizer has agreed to buy U.S. biotech company Arena Pharmaceuticals in a deal valued at about $6.7 billion.

The U.S. pharma giant said the acquisition would expand its cancer and inflammatory disease drug pipeline.

Shares in Arena Pharmaceuticals (ticker: ARNA) surged 93% to $96.45 in premarket trading, while Pfizer (PFE) stock climbed 1.6%….

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