Pfizer to buy Anacor for around $5.2 billion
Pfizer has entered a definitive merger agreement to acquire Anacor Pharmaceuticals for $99.25 per share in cash, or a total transaction value of approximately $5.2 billion, the companies have announced. The deal, which represents a premium of about 55 percent to Anacor’s closing share price on May 13 and has been approved by the board of directors of both drugmakers, gives Pfizer rights to the non-steroidal topical PDE4 inhibitor crisaborole.
Albert Bourla, group president of Pfizer’s Global Innovative Pharma and Global Vaccines, Oncology and Consumer Healthcare businesses, said “crisaborole is a differentiated asset with compelling clinical data that, if approved, has the potential to be an important first-line treatment option.” A marketing application for crisaborole is currently under review by the FDA for the treatment of mild-to-moderate atopic dermatitis, with a target review date of January 7, 2017. In study data unveiled last year, crisaborole was shown to provide significantly greater skin clearance than placebo.
The deal represents Pfizer’s first acquisition since terminating its $160-billion deal to acquire Allergan in April. Pfizer CEO Ian Read recently said that Pfizer was looking to acquire products that are near to reaching the market, with sources suggesting that the company has approached Medivation regarding a possible takeover. Pfizer added that it expects to complete the acquisition in the third quarter.