Pfizer buys US pharmaceutical company for $11.6 billion

This is the biggest acquisition in the pharmaceutical industry in the past five years writes the Financial Times.

On Tuesday, the Pfizer company said it would pay $1 148.5 for shares from the money they own for biohaven. This is 78 per cent higher than the price of closing Bihoven's action on Monday.

With record revenues related to the success of its Quaddy-19 vaccine and the expected antivirus pill, the New York-based Pfizer had asked for purchases to support its growth. The deal is Pfizer's largest since buying Mediterranean in 2016 for 14.3 billion dollars.

The biohaven, which was established in 2013, specializes in drugs that target neurological diseases and rare disorders. His best-known medicine is Nurtec ODT, which has been approved both for acute treatment and for preventing migraines in adults.

Pfizer invested $350m in the company in November last year, buying 2.6 percent of its shares for $173 each.