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Pfizer To Pay $2.26B For Cancer Treatment Developer Trillium

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FILE - In this Feb. 5, 2021, file photo, the Pfizer logo is displayed at the company's headquarters in New York. The U.S. gave full approval to Pfizer's COVID-19 vaccine on Monday, Aug. 23, 2021. (AP Photo/Mark Lennihan, File)

(AP) – 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.

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