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Pfizer said Monday that it is buying Trillium, a Toronto developer of cancer drugs with which it already has a development partnership, for $2.3 billion.

The purchase represents nothing but a win for Trillium shareholders, capping off a two-year period in which Trillium traded below 30 cents and as high as $20.96. The deal price — Pfizer is paying $18.50 per share — is triple the stock’s recent closing price and almost at that all-time high.

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