New York : Drug major Pfizer Inc said it will acquire biopharmaceutical firm Anacor Pharmaceuticals for around $5.2 billion in an all-cash deal.
Pfizer and Anacor Pharmaceuticals have entered into a definitive merger agreement under which Pfizer will acquire Anacor for $99.25 per Anacor share, in cash, for a total transaction value, net of cash, of approximately USD 5.2 billion, Pfizer Inc said in a statement.
Anacor’s flagship asset, crisaborole, is currently under review by the USFDA for the treatment of mild-to-moderate atopic dermatitis, commonly referred to as eczema.
Group President of Pfizer Global Innovative Pharma and Global Vaccines, Oncology and Consumer Healthcare Businesses Albert Bourla said, “We believe the acquisition of Anacor represents an attractive opportunity to address a significant unmet medical need for a large patient population with mild-to-moderate atopic dermatitis, which currently has few safe topical treatments available.” Crisaborole is a differentiated asset with compelling clinical data that, if approved, has the potential to be an important first-line treatment option for these patients and the physicians who treat them, Bourla added.
In March 2016, the FDA accepted to review Anacor’s New Drug Application seeking approval of crisaborole for the potential treatment of mild-to-moderate atopic dermatitis in children and adults, the company said. If approved, Pfizer believes peak year sales for crisaborole have the potential to reach or exceed USD 2 billion, it added.
In April this year, Pfizer had terminated its proposed USD 160 billion merger deal with Botox manufacturer Allergan following crackdown by the US government over tax avoidance deals.
