Biohaven closes migraine-drug deal with Pfizer

Biohaven reports it has completed its transaction with Pfizer to sell the migraine drugs rimegepant and zavegepant outside of the U.S.

The deal — potentially worth $1.24 billion — received the required regulatory approvals and its completion triggers total upfront payment to Biohaven of $500 million, consisting of $150 million cash and $350 million in the purchase of Biohaven equity.