Pfizer to spend $11.6B on migraine treatment maker Biohaven

By TOM MURPHY
AP Health Writer

Pfizer is spending $11.6 billion to buy the remaining portion of migraine treatment maker Biohaven Pharmaceuticals it does not already own.The New York drugmaker said Tuesday it will pay $148.50 in cash for each share of Biohaven, which makes Nurtec ODT for treating and preventing migraines and has another nasal spray under development.Pfizer says the price represents a 33% premium over Biohaven’s 90-day weighted average price of $111.70 for Biohaven Pharmaceutical Holding Co. Ltd., which is based in New Haven, Connecticut.  Shares of Biohaven had dipped below $100 in recent weeks but soared in early-morning trading Tuesday.