Pfizer will be paying $99.25 per share for Anacor. The deal will be funded with cash and has been approved by both companies’ Board of Directors. It will give PFE access to ANAC’s crisaborole.
Crisaborole is a non-steroidal topical PDE4 inhibitor with anti-inflammatory properties. It’s currently under review by the FDA. The drug achieved positive results for its primary and secondary endpoints in two Phase 3 studies.
Pfizer is still waiting for approval from regulators, but it expects the deal to acquire Anacor to be completed during the third quarter of 2016.
ANAC shares were up 54% as of Monday morning.
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