On Monday, Pfizer Inc. announced it would buy Canadian drug developer Trillium Therapeutics Inc via a $2.26 billion deal to reinforce its investments in blood cancer therapies.
Pfizer already acquired a $25 million stake in Trillium the previous year, with the remaining shares at $18.50 per share (203.8% premium being on the stock’s closing price) to be purchased by the U.S. drugmaker; the second-largest deal for a Canadian biotech company so far. When the per Trillium share price was $10.88 in September, Pfizer purchased nearly 2.3 million shares.
