Alaska Air Group said Sunday it agreed to buy Hawaiian Airlines in a $1.9 billion deal including debt.

The combined company would keep both airlines’ brands, which call the 49th and 50th states their homes. Alaska will pay $18 in cash for each share of Hawaiian, whose stock closed Friday at $4.86. The deal also includes $900 million in Hawaiian debt, which the airlines said brings the acquisition’s total value to $1.9 billion.

The deal still needs approval from the boards of both companies, as well as from the shareholders of Hawaiian Holdings. It will also need the blessing of U.S. regulators, which have shown resistance to more consolidation within the airline industry out of fear it could lead to higher fares.

The companies expect the deal to close in 12 to 18 months.

Pfizer nixes study of obesity pill treatment

Pfizer said it would abandon a twice-daily obesity treatment after more than half the patients in a clinical trial stopped taking it.

The pharmaceutical company said late last week it will focus instead on a once-daily version of the pill, danuglipron, instead of starting a late-stage study of the other version. Late-stage studies are usually the last and most expensive trials a drugmaker undertakes before seeking regulatory approval.

Obesity treatments are one of the hottest and more lucrative areas of medicine. Pfizer rivals Novo Nordisk and Eli Lilly already have injectable drugs on the market. But Novo and Pfizer are also trying to develop pill versions that would be easier for patients to take.

Pfizer said it saw patient discontinuation rates topping 50% across all doses in a mid-stage study of twice-daily danuglipron. That compares to about 40% for the placebo or fake drug.