Pharma BD Deal Intelligence

Pfizer Inc. / Biohaven Pharmaceutical Holding Company Ltd.

2022 · Acquisition/Merger · $11.6B · Complete

CALLED IT — OFF BY 21
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Top 25 largest deals of the 2020s

Ranks computed across 828 graded deals (Critic + Outcome Score both present).

The coverage arc

May 10, 2022 Fierce Pharma Neutral

Pfizer buys migraine partner Biohaven for $11.6B, betting on CGRP drugs in grand return to neuroscience. Pfizer expects to grow Biohaven's oral CGRP franchise…

May 10, 2022 MedCity News (William Blair) Bullish

William Blair analysts wrote the acquisition is a good deal for both Pfizer and Biohaven, viewing it as clear validation of Nurtec ODT's leadership position in…

Feb 03, 2026 Pfizer 2025 Annual Report Bullish

Nurtec ODT/Vydura full-year 2025 revenue of $1,424 million (2% of total revenue), confirming continued CGRP franchise growth under Pfizer ownership.

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Pfizer acquired Biohaven Pharmaceuticals for approximately $11.6 billion ($148.50 per share in cash), gaining Nurtec ODT (rimegepant), a dual-action CGRP receptor antagonist approved for both acute treatment and prevention of migraine. Prior to closing, Biohaven spun off its non-CGRP pipeline into a new public entity.

Key facts

Related deals — scored

DealYearValueOutcome
Pfizer Inc. / Biohaven Pharmaceutical Holding Company Ltd. (this deal)2022$11.6B69
Pfizer Inc. / BioNTech SE2020$748M100
Pfizer Inc. / FoldRx Pharmaceuticals201099
Pfizer Inc. / Medivation Inc.2016$14.0B86
Pfizer Inc. / Wyeth2009$68.0B86
Pfizer Inc. / Warner-Lambert Company2000$90.0B83
Pfizer Inc. / Arvinas, Inc.2021$2.4B77

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