Pfizer to pay $2.26B for cancer treatment developer Trillium

By The Associated Press

Pfizer is spending more than $2 billion in cash to buy another drugmaker focused on potential cancer treatments. New York-based Pfizer says it will pay $18.50 for each share of Trillium Therapeutics Inc., or more than double the stock’s 60-day weighted average price. Trillium has no products on the market. Its potential treatments include biologics that aim to prime a patient’s immune system to detect and destroy cancer cells. Its two lead candidates are in early-stage testing and focus on hematology. That includes blood, bone marrow and lymph node cancers like leukemia or lymphoma.