Pfizer buys Array to strengthen its position in the $ 138 billion market

Pfizer Inc. has reached an agreement to acquire Array BioPharma for $ 10.64 billion, writes the Wall Street Journal. The company will pay shareholders $ 48 per share, 62% more than Friday. The transaction will be financed with the help of available funds and debt.

The Array portfolio includes Braftovi and Mektovi, which are approved for the treatment of skin cancer. Anticancer drugs are expected this year to generate $ 8.3 billion in revenue for Pfizer.

The acquisition of Array, expected to end in the second half of 2019, is another for the US pharmaceutical industry, strengthening its portfolio of cancer drugs – one of the largest pharmaceutical segments. According to EvaluatePharma worldwide, the sale of anticancer drugs will reach $ 138 billion.

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