Pfizer Inc. today announced the acquisition of Anacor Pharamaceuticals Inc.
Pfizer will pay $99.25 per Anacor common share, in cash, for a total of approximately $5.2 billion. Both companies' boards of directors agreed to the merger agreement.
“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,” Pfizer Group President Albert Bourla said. “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.”
Anacor's flagship asset, crisaborole, is currently under review by the U.S. Food and Drug Administration (FDA). Two Phase III clinical trials showed significant results in using crisaborole to treat atopic dermatitis, commonly known as eczema. If approved by the FDA, annual sales of the medication could reach $2 billion.
“Today marks the beginning of an exciting new chapter for Anacor, which we believe will deliver significant value to our shareholders,” Anacor Chairman and CEO Paul L. Berns said. “We have a deep respect for Pfizer, and it is clear that they share our commitment to addressing the significant unmet medical needs in inflammatory disease. We are proud of the innovative company that our team has built and are confident that Pfizer will help accelerate Anacor’s important mission given the strength of its global platform and resources.”
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