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May 17, 2016 Comments Off on Pfizer Strikes $5.2B Agreement with Anacor Views: 412 Bay Area, California, California News, National News, New York, Northeast, West

Pfizer Strikes $5.2B Agreement with Anacor

Less than a month after pharmaceutical company Pfizer backed away from plans to acquire Allergan plc, it struck a $5.2 billion deal to buy Palo Alto, CA-based Anacor Pharmaceuticals Inc. The buyer, headquartered in New York City, has interest in Anacor’s eczema gel.

The acquisition will give the New York City-based pharmaceutical giant access to Anacor’s crisaborole, a non-steroidal topical gel currently under review by the U.S. Food and Drug Administration (FDA). Pfizer indicated the gel could reach or exceed $2 billion in sales.

Analysts believe the deal could signal Pfizer’s strategy to strengthen its portfolio ahead of a potential decision to sell or spin off its generic medicines business by late 2016. The Anacor acquisition is expected to close during the third quarter of 2016.

Read More at Reuters

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