Pfizer to buy Anacor for $5.2 billion

New York, May 16 

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Drug major Pfizer Inc today said it will acquire biopharmaceutical firm Anacor Pharmaceuticals for around $5.2 billion in an all-cash deal.

Pfizer and Anacor Pharmaceuticals have entered into a definitive merger agreement under which Pfizer will acquire Anacor for $99.25 per Anacor share, in cash, for a total transaction value, net of cash, of approximately $5.2 billion, Pfizer Inc said. 

The Boards of both companies have unanimously approved the transaction, which also assumes the conversion of Anacor’s outstanding convertible notes, it added.

Anacor’s flagship asset, crisaborole, is currently under review by the USFDA for the treatment of atopic dermatitis, commonly known as eczema. — PTI