London: Pfizer Inc is taking a 3 per cent stake in Sosei Group Corp. and has entered into a drug discovery collaboration with the Japanese company’s UK unit to develop new medicines. Pfizer will purchase $33 million of newly issued Sosei shares, representing about 3 per cent of the enlarged Sosei share capital, the Tokyo-based company said in a statement today. Pfizer will pay a 7,950 yen ($65) per share, a 25 per cent premium to Friday’s closing price. For Sosei’s UK unit Heptares, based in Hertfordshire, England, the partnership with Pfizer adds to pacts with AstraZeneca Plc, Merck & Co. and Takeda Pharmaceutical Co. Last week, Teva Pharmaceutical Industries Ltd. said it would collaborate with Heptares to develop drugs for migraines.
Pfizer to take stake in Japan’s Sosei, collaborate with Heptares
Pfizer will purchase $33m of newly issued Sosei shares, representing about 3% of the enlarged Sosei share capital