Pfizer (PFE) is acquiring Icagen (ICGN), a developer of pain relief drugs, for $6/share. After...

|About: Pfizer Inc. (PFE)|By:, SA News Editor

Pfizer (PFE) is acquiring Icagen (ICGN), a developer of pain relief drugs, for $6/share. After accounting for Pfizer's current 11% stake in the company, the transaction will cost approximately $49.8M. Icagen, which closed yesterday at $7.75, is down 23.2% on the news. One legal firm is already announcing an investigation into the deal.