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Pfizer acquiring Anacor for $5.2B

May 17, 2016 1:11 AM UTC

Pfizer Inc. (NYSE:PFE) will acquire Anacor Pharmaceuticals Inc. (NASDAQ:ANAC), giving it atopic dermatitis candidate crisaborole ( AN2728). The pharma will pay $99.25 per share in cash, or about $5.2 billion. The price is a 55% premium to Anacor's close of $64.03 on Friday, before the deal was announced.

Pfizer said crisaborole could deliver $2 billion in peak year sales. The candidate is under FDA review to treat mild to moderate atopic dermatitis in children and adults. Its PDUFA date is Jan. 7, 2017. Crisaborole is a topical borinic acid ester that inhibits phosphodiesterase-4 ( PDE-4) and the production of tumor necrosis factor (TNF) alpha, IL-12 and IL-23. ...