Pfizer to acquire Anacor in $5.2 billion deal
Pfizer (NYSE: PFE) has acquired Anacor Pharmaceuticals (NASDAQ: ANAC) in a deal worth around $5.2 billion, or $99.25 per share.
The acquisition of Anacor will see Pfizer obtain its inflammation and immunology portfolio. Anacor’s flagship product, crisaborole, is currently under review by the US Food and Drug Administration (FDA) for the treatment of eczema, or mild-to-moderate atopic dermatitis. Crisaborole is a differentiated non-steroidal topical PDE4 inhibitor with anti-inflammatory properties.
In Phase III trials, the drug achieved statistically significant results on all of its primary and secondary endpoints, and in March 2016, the FDA accepted for review Anacor’s New Drug Application. Pfizer believes peak sales of the drug have the potential to reach or exceed $2 billion.
Anacor also holds the rights to toenail fungus treatment Kerydin. It is distributed and commercialised by Sandoz in the US.
Albert Bourla, group president of Pfizer’s global vaccines, oncology and consumer healthcare businesses, says: “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.
“Our dedicated inflammation and immunology group has strong existing in-market franchises with Enbrel and Xeljanz, as well as a robust mid-stage pipeline, and this acquisition has the potential to add a near-term US product launch.”
Pfizer anticipates the transaction to be completed through existing cash. The company does not expect the transaction to impact its current 2016 financial guidance.
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