$Pfizer (PFE.US)$$Arena Pharmaceuticals (ARNA.US)$ Buoyed by...

$Pfizer (PFE.US)$ $Arena Pharmaceuticals (ARNA.US)$ Buoyed by vaccine profits, Pfizer is clearly seizing the opportunity to put some money to work through diversified acquisitions. Pfizer buys Pharmaceutical rival Arena for $6.7 billion, sending shares up 90%. Arena's product portfolio includes multiple promising development stage drug candidates in gastroenterology, dermatology and cardiology. Arena also has two cardiovascular drugs in development, Temanogrel and APD418.