Icagen, Inc. Surges on Rumors of Pfizer Inc. Buyout Talks
Drugmaker Pfizer Inc. said Friday in a regulatory finding it is studying the possibility of entering a "strategic transaction" with the biopharmaceutical company Icagen Inc. that could result Icagen being acquired. New York-based Pfizer and Icagen, based in Research Triangle Park, N.C., have collaborated in a partnership in which Pfizer funds the smaller company and then receives exclusive rights to commercialize any products that arise from the partnership. Pfizer, the world's largest drugmaker, said it has had preliminary talks with Icagen about a deal, and Icagen agreed to give Pfizer access to "various due diligence materials," according to a Securities and Exchange Commission filing.