Pfizer beefs up its oncology portfolio by acquiring Array for US$ 10.64 billion

By PharmaCompass

2019-06-20

Impressions: 101 Article

This week, Pfizer Inc — the largest drugmaker in the US — beefed up its cancer portfolio by acquiring Array Biopharma for US$ 10.64 billion in cash. Pfizer paid a hefty 62 percent premium to Array’s approved treatments for skin cancer, and some of its other experimental drugs. With this acquisition, Pfizer has added a new research hub in Boulder, Colorado, to its global operations.

Pfizer highlighted the acquisition of twice approved drugs in the deal — Braftovi (encorafenib) and Mektovi (binimetinib). In fact, only last year, the US Food and Drug Administration (FDA) had approved this oral combination for use in patients with melanoma, the deadliest form of skin cancer. Array Biopharma is also testing its triple combo therapy in colorectal cancer patients.

“(The acquisition) sets the stage to create a potentially industry-leading franchise for colorectal cancer alongside Pfizer’s existing expertise in breast and prostate cancers,” Bourla said.

Pfizer has also been pushing its “15 in 5” plan to launch 15 experimental treatments, each with an annual sales potential of at least US$ 1 billion, over a five-year period and has been investing in cancer drugs and gene therapies. Pfizer expects to complete the deal in the second half of 2019.

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