Pfizer has agreed to buy U.S. biotech company Arena Pharmaceuticals in a deal valued at about $6.7 billion.
The U.S. pharma giant said the acquisition would expand its cancer and inflammatory disease drug pipeline.
Shares in Arena Pharmaceuticals (ticker: ARNA) surged 93% to $96.45 in premarket trading, while Pfizer (PFE) stock climbed 1.6%….
