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Pfizer Enters Merger Agreement with Anacor
May 16, 2016
1 Min Read
Pfizer headquarters in New York City. Photo by Norbert Nagel. CC Licence.
Pfizer Inc. announced Monday that it has entered into a “definitive” merger agreement with Anacor Pharmaceuticals Inc., a maker of an eczema treatment that is currently under FDA review.
Agreeing to purchase the Palo Alto, CA-based company for $5.2 billion, Pfizer said in a press release that it expects the purchase of Anacor to strengthen its strategic focus on inflammation and immunology. Anacor’s crisaborole, a treatment for mild-to-moderate eczema that is a differentiated, non-steroidal topical PDE4 inhibitor with anti-inflammatory properties, is expected to become a major treatment option if it is approved.
“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,” Albert Bourla, group president of Pfizer’s global innovative pharma and global vaccines, oncology, and consumer healthcare businesses.
According to Pfizer, the Prescription Drug User Free Act (PDUFA) goal date for FDA review completion is January 7, 2017. The company estimates that, if the drug is approved by the FDA, peak year sales of crisaborole will be $2 billion or more.
“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 Bourla.
Also included in the merger are the rights to Kerydin, a topical treatment for toenail fungus, which is currently distributed by Sandoz Inc. in the United States.
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