However, these studies are all currently in phase 2, so even if some of them bear fruit, it would be years before Pfizer would be able to reap financial gains. Data is a real-time snapshot *Data is delayed at least 15 minutes. Array’s portfolio includes the approved combined use of BRAFTOVI® (encorafenib) and MEKTOVI® (binimetinib) for the treatment of BRAFV600E or BRAFV600K mutant unresectable or metastatic melanoma.

These dilution/accretion projections should not be considered a substitute for GAAP measures. It is also its biggest acquisition since a $14 billion purchase of Medivation in 2016 gave it the prostate cancer drug Xtandi, forecast by analysts to top $1 billion in sales next year.

Braftovi and Mektovi are already approved for treating metastatic melanoma. In addition to the Offer to Purchase, the related Letter of Transmittal and certain other tender offer documents, as well as the Solicitation/Recommendation Statement, Pfizer and Array each file annual, quarterly and current reports and other information with the SEC. The determinations of the amounts that are excluded from the dilution/accretion calculations are a matter of management judgment and depend upon, among other factors, the nature of the underlying expense or income amounts. +1 (303) 381-6600[email protected], Media Relations: The deal will give Pfizer access to Array’s approved drugs for skin cancer and the targeted cancer medicines in its pipeline. All quotes delayed a minimum of 15 minutes. Announces Pricing of Upsized Initial Public Offering, Pfizer makes $10.6 billion cancer bet in cash deal for Array Biopharma, Weitere Informationen über das Unternehmen, Secretary, Director & Chief Governance Counsel. Array has quite a few clinical trials under way that are evaluating them in combos. (For a graphic on 'Array biopharma shares' click tmsnrt.rs/2XT8Cv9). Pfizer was advised by Guggenheim Securities and Morgan Stanley on the deal. Following its acceptance of the tendered shares, Pfizer completed its acquisition of Array through a second step merger of Arlington Acquisition Sub Inc. with and into Array. Pfizer assumes no obligation to update forward-looking statements contained in this release as the result of new information or future events or developments.

For more than 150 years, we have worked to make a difference for all who rely on us. Pfizer and BioNTech Coronavirus Vaccine Accepted for Rolling Review in Canada, 3 Stocks That Are Absurdly Cheap Right Now, Copyright, Trademark and Patent Information. Consistent with our responsibility as one of the world's premier innovative biopharmaceutical companies, we collaborate with health care providers, governments and local communities to support and expand access to reliable, affordable health care around the world. Every day, Pfizer colleagues work across developed and emerging markets to advance wellness, prevention, treatments and cures that challenge the most feared diseases of our time. That's a tougher question to answer. Pfizer will provide any appropriate updates to its current 2019 guidance in conjunction with its third quarter 2019 earnings release.

NEW YORK & BOULDER, Colo.--(BUSINESS WIRE)-- Pfizer Inc. (NYSE: PFE) and Array BioPharma Inc. (NASDAQ: ARRY) today announced that they have entered into a definitive merger agreement under which Pfizer will acquire Array, a commercial stage biopharmaceutical company focused on the discovery, development and commercialization of targeted small molecule medicines to treat cancer and other diseases of high unmet need. The data “is really a landmark publication in one of the most dismal tumors,” Pfizer research chief Mikael Dolsten said in a phone interview. So the first positive financial effects from the Array buyout likely won't arrive until 2022.

Getting to Know CPO Dara Richardson-Heron, M.D. Investor Relations: Pfizer Inc. invites investors and the general public to view and listen to a webcast of a live conference call with investment analysts at 9:00 a.m. EDT on Monday, June 17, 2019. And with a purchase price of $11.4 billion, it's arguably a little larger than the usual bolt-on. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. (Reuters) - Pfizer Inc said on Monday it would buy Array Biopharma Inc for $10.64 billion in cash, a deal it hopes will help make it a leader in colon cancer and build up its pipeline of oncology drugs. Array stock understandably skyrocketed in early trading on Monday. © 2020 CNBC LLC. Pfizer is paying $48 per share for Array, which closed 57% higher. After a couple of years without any significant merger and acquisition activity, the big drugmaker announced on Monday that it's buying Array BioPharma (NASDAQ:ARRY).. But those drugs appear poised to become part of a promising triple combination for advanced colorectal cancer. Forward-looking statements in this release and the accompanying call include, among other things, statements about the potential benefits of the proposed acquisition, anticipated royalties, earnings dilution and accretion, and growth, Pfizer’s and Array’s plans, objectives, expectations and intentions, the financial condition, results of operations and business of Pfizer and Array, the BRAF/MEK combination and Array’s other pipeline and portfolio assets, the anticipated timing of closing of the proposed acquisition and expected plans for financing the proposed acquisition. The password is “Analyst Call.” Please join the call five minutes prior to the start time to avoid operator hold times. Neither Pfizer nor Array assumes any obligation to update forward-looking statements contained in this release as the result of new information or future events or developments. But anyone looking for the Array acquisition to make a significant positive difference for Pfizer financially will have a long wait ahead. Market data powered by FactSet and Web Financial Group. THE TENDER OFFER MATERIALS (INCLUDING AN OFFER TO PURCHASE, A RELATED LETTER OF TRANSMITTAL AND CERTAIN OTHER TENDER OFFER DOCUMENTS) AND THE SOLICITATION/RECOMMENDATION STATEMENT ON SCHEDULE 14D-9 WILL CONTAIN IMPORTANT INFORMATION. Though Braftovi and Mektovi have tremendous potential as treatments for colorectal cancer and melanoma, there's a long way to go before the combo can even make a ripple in Pfizer's top line, which was $53.6 billion in 2018. Vitrakvi® (larotrectinib, partnered with Bayer AG) is approved in the United States and Ganovo® (danoprevir, partnered with Roche) is approved in China. The merger agreement contemplates that Pfizer will acquire any shares of Array that are not tendered into the offer through a second-step merger, which will be completed promptly following the closing of the tender offer. The information contained in this release is as of June 17, 2019. The transaction is expected to add to earnings beginning 2022, and will reduce adjusted earnings per share by between 4 and 5 cents this year and in 2020, Pfizer said. Patricia Kelly Array BioPharma Inc. is a fully integrated biopharmaceutical company focused on the discovery, development and commercialization of transformative and well-tolerated targeted small molecule drugs to treat patients afflicted with cancer and other high-burden diseases. For additional background on the acquisition, please read the announcement press release here. The company has also been pushing its "15 in 5" plan to launch 15 experimental treatments, each with at least $1 billion annual sales potential, over a five-year period and has been investing in cancer drugs and gene therapies. “With Array’s exceptional scientific talent and innovative pipeline, combined with Pfizer’s leading research and development capabilities, we reinforce our commitment to advancing the most promising science, regardless of whether it is found inside or outside of our labs.”. Upon the close of the transaction, Array’s employees will join Pfizer and continue to be located in Cambridge, Massachusetts and Morrisville, North Carolina, as well as Boulder, Colorado, which becomes part of Pfizer’s Oncology Research & Development network in addition to La Jolla, California and Pearl River, New York.

Cantor Fitzgerald analysts predict sales of $955 million for Array's two drugs -- but they don't expect that sales level to be achieved until 2026. Chuck Triano NEW YORK--(BUSINESS WIRE)-- Pfizer has excluded from the dilution/accretion calculations the impact of purchase accounting adjustments, acquisition-related costs, discontinued operations and certain significant items. A further description of risks and uncertainties relating to Pfizer and Array can be found in Pfizer’s Annual Report on Form 10-K for the fiscal year ended December 31, 2018 and in Array’s Annual Report on Form 10-K for the fiscal year ended June 30, 2018, respectively, and in their subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, all of which are filed with the U.S. Securities and Exchange Commission (the “SEC”) and available at www.sec.gov. Under the terms of the merger agreement, a subsidiary of Pfizer will commence a cash tender offer to purchase all outstanding shares of Array common stock for $48 per share in cash for a total enterprise value of approximately $11.4 billion.