Contribute Try STAT+ Today

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.

Unlock this article by subscribing to STAT+ and enjoy your first 30 days free!

GET STARTED

What is it?

STAT+ is STAT's premium subscription service for in-depth biotech, pharma, policy, and life science coverage and analysis. Our award-winning team covers news on Wall Street, policy developments in Washington, early science breakthroughs and clinical trial results, and health care disruption in Silicon Valley and beyond.

What's included?

  • Daily reporting and analysis
  • The most comprehensive industry coverage from a powerhouse team of reporters
  • Subscriber-only newsletters
  • Daily newsletters to brief you on the most important industry news of the day
  • STAT+ Conversations
  • Weekly opportunities to engage with our reporters and leading industry experts in live video conversations
  • Exclusive industry events
  • Premium access to subscriber-only networking events around the country
  • The best reporters in the industry
  • The most trusted and well-connected newsroom in the health care industry
  • And much more
  • Exclusive interviews with industry leaders, profiles, and premium tools, like our CRISPR Trackr.

Create a display name to comment

This name will appear with your comment