Based in New Haven, Connecticut, biotech company Biohaven Pharmaceutical (NYSE:BHVN) is soaring Tuesday after announcing its acquisition by Pfizer (NYSE:PFE). Currently, BHVN stock is up nearly 70% on an otherwise lukewarm day for the markets.
This morning, news broke that Pfizer will purchase the drugmaker for “nearly $12 billion” as part of the deal. Probably best-known for its migraine medication, Biohaven and its Nurtec drug fit naturally with the company’s primary care background.
The post Why Is Biohaven Pharmaceutical (BHVN) Stock Up Today? originally appeared at InvestorPlace.