Pfizer to Acquire Cancer Drugmaker Trillium for $2.3 Billion
- Pfizer to pay $18.50 a share for immune-oncology biotech
- Trillium purchase follows Pfizer’s cancer deal with Arvinas
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Pfizer Inc., maker of a top-selling Covid vaccine, will buy all the shares of Trillium Therapeutics Inc. it doesn’t own, gaining the immune cancer drugmaker for an equity value of $2.26 billion.
Pfizer will pay $18.50 a share for Cambridge, Massachusetts-based Trillium, the companies said Monday in a statement. The price represents a 118% premium to the stock’s 60-day weighted average price. Shares of Trillium nearly tripled to as much as $11.67, while Pfizer rose as much as 3.6% as of 9:38 a.m. in New York.