Long wait cost Pfizer until BEACON data clinched Array deal

By waiting for a crucial clinical readout that arrived in May 2019, Pfizer watched Array's stock price climb for two years, eventually paying a takeout price that was well over four times the biotech's value when Array began seeking a buyer in early 2017.

The pharma's $48-per-share offer last month valued Array BioPharma Inc. (NASDAQ:ARRY) at $11.4

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