Pfizer to buy Anacor for $5.2B
Pfizer has agreed to buy Anacor Pharmaceuticals for $5.2 billion dollars. The deal was announced May 16.
Based in Palo Alto, Calif., Anacor develops topical skin treatments, including crisaborole, an experimental eczema treatment that may be approved by the FDA early next year. Pfizer, the largest drug manufacturer in the U.S., hopes the acquisition will accelerate growth, estimating sales for crisaborole reaching $2 billion at its peak.
"Anacor will be a strong fit with Pfizer's innovative business, further supporting our strategic focus on Inflammation and Immunology, and is expected to enhance near-term revenue growth for the innovative business,” said Albert Bourla of Pfizer in a company release.
Anacor currently only offers one product in the U.S. market, a topical treatment for toenail fungus called Kerydin.
Just last month, Pfizer terminated its potential $160 billion merger with Allergen. That deal was scuttled after the Obama administration announced new rules to limit the ability of American companies to decrease tax bills by moving overseas, so-called “tax inversions.”
Nicholas joined TriMed in 2016 as the managing editor of the Chicago office. After receiving his master’s from Roosevelt University, he worked in various writing/editing roles for magazines ranging in topic from billiards to metallurgy. Currently on Chicago’s north side, Nicholas keeps busy by running, reading and talking to his two cats.