Biohaven, Pfizer Announce Successful Closing Of Collaboration Agreements - Quick Facts

(RTTNews) - Biohaven Pharmaceutical Holding Company Ltd. (BHVN) and Pfizer Inc. (PFE) have completed the collaboration transaction for commercialization of Rimegepant and Zavegepant outside U.S. These agreements have become effective following the receipt of required regulatory approvals.

In connection with the closing, Pfizer made an upfront payment to Biohaven of $500 million, consisting of $150 million cash and $350 million in the purchase of Biohaven equity. At close, Pfizer will own 3% of Biohaven.

Biohaven is also eligible to receive up to $740 million in future milestones.