July 5 Quick Takes: Details of Pfizer-Biohaven negotiations emerge
Plus second adcomm for Amylyx’s ALS therapy, female biotech leaders criticize SCOTUS decision, and updates from Juvisé, Syros and more
After an initial $157 proposal on April 11, Biohaven Pharmaceutical Holding Co. Ltd. (NYSE:BHVN) negotiated a $148.50-per-share takeout bid from Pfizer Inc. (NYSE:PFE) about a month later that also included $275 million in funding for a spinout that will advance Biohaven’s non-migraine programs, according to a regulatory filing Tuesday. The document acknowledged that in the wake of a dip in Biohaven’s share price in late April, both parties agreed in early May that the pharma would reduce its bid “to reflect additional diluted shares and net debt expected at the closing.” The parties added to the final deal a royalty component tied to sales of migraine products.
Dozens of female biotech leaders signed an open letter criticizing the U.S. Supreme Court’s Roe v. Wade decision. “We join the resounding millions in chorus to express our profound dismay and disappointment at the United States Supreme Court’s decision to strike down and ignore our fundamental rights as women to make personal reproductive health choice and for clinicians to practice evidence-based medicine without fear of reprisal,” the leaders wrote...