---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-22-145661"
form_type: "8-K"
ticker: "PFE"
cik: "0000078003"
company_name: "PFIZER INC"
filed_at: "2022-05-10T23:59:59+00:00"
generated_at: "2026-06-25T22:05:32.365174+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Pfizer acquires Biohaven for $11.6B cash; gains migraine portfolio NURTEC ODT

## Summary
- Total consideration ~$11.6B: $148.50/share cash + 0.5 share of New Biohaven per Biohaven share.
- Acquires NURTEC ODT (rimegepant) approved for acute & preventive migraine, plus zavegepant & preclinical CGRP assets.
- New Biohaven (SpinCo) retains non-CGRP pipeline, capitalized with $275M; eligible for tiered royalties on US sales >$5.25B.
- Cash consideration represents ~33% premium to 3-month VWAP; closing expected early 2023, subject to approvals.
- Pfizer also to repay Biohaven's $1.26B debt and redeem preferred shares at closing.

## SEC filing metadata
- accession: 0001193125-22-145661
- form_type: 8-K
- ticker: PFE
- cik: 0000078003
- company_name: PFIZER INC
- filed_at: 2022-05-10T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/78003/000119312522145661/0001193125-22-145661-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/78003/000119312522145661/d336582d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-22-145661
- JSON: https://secwatch.observer/filing/0001193125-22-145661.json
- Plain text: https://secwatch.observer/filing/0001193125-22-145661.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.