Pfizer Completes $5.2 Billion Acquisition of Anacor PharmaceuticalsBy
Pfizer has completed its previously announced acquisition of Anacor Pharmaceuticals, a biopharmaceutical company developing and commercializing small-molecule drugs from its boron chemistry platform, for approximately $5.2 billion, Under the terms of the transaction, each outstanding share of Anacor common stock has been converted into the right to receive $99.25 net in cash (without interest but subject to required withholding of taxes).
Anacor's lead product, crisaborole, a differentiated non-steroidal topical PDE4 inhibitor with anti-inflammatory properties, is currently under review by the US Food and Drug Administration (FDA) for the treatment of mild-to-moderate atopic dermatitis, commonly referred to as eczema. Anacor also holds the rights to Kerydin, a topical treatment for onychomycosis (toenail fungus) that is distributed and commercialized by Sandoz Inc. in the US. Kerydin was approved by the FDA in 2014. . In July 2014, Anacor entered into an exclusive agreement with Sandoz to which PharmaDerm, the branded dermatology division of Sandoz, distributes and commercializes Kerydinin the United States.