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 … View our Cookie Policy page. Anacor also has a pipeline of other internally discovered topical and systemic boron-based compounds in early stages of research and development. Anacor’s first approved product, KERYDIN®(tavaborole) topical solution, 5%, is an oxaborole antifungal approved by the U.S. Food and Drug Administration in July 2014 for the topical treatment of onychomycosis of the toenails. At Pfizer, we apply science and our global resources to bring therapies to people that extend and significantly improve their lives. Sorry, you need to enable JavaScript to visit this website. For more information, please visit us at, Anacor is a biopharmaceutical company focused on discovering, developing and commercializing novel small-molecule therapeutics derived from its boron chemistry platform. Learn how preclinical ototoxicity assessment can help you avoid clinical and financial risks. For our other types of cookies “Advertising & Targeting”, “Analytics” and “Performance”, these help us analyse and understand how you use this website. The boards of both companies have approved the deal, which is expected to close in the third quarter. On one side Pharmaadvancement.com has established itself as one of the most efficient and comprehensive source of Pharma information online, dedicated to providing decision makers in all the Pharma industry sectors with reliable, accurate and useful insights into happenings in the Pharma sector. Copies of the documents filed with the SEC by Pfizer will be available free of charge on Pfizer’s internet website at http://www.pfizer.com or by contacting Pfizer’s Investor Relations Department at (212) 733-8160. 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. We strive to set the standard for quality, safety and value in the discovery, development and manufacture of health care products. Please call the SEC at 1-800-SEC-0330 for further information on the public reference room. “Crisaborole is a differentiated asset with compelling clinical data that, if approved, has the potential to be an important first-line treatment option for these patients and the physicians who treat them.”. Under the terms of the merger agreement, a subsidiary of Pfizer will commence a cash tender offer to purchase all of the outstanding shares of Anacor common stock for $99.25 per share in cash. First published on May 16, 2016 / 7:57 AM. These cookies will be stored in your browser only with your consent. Anacor's first approved product, KERYDIN®(tavaborole) topical solution, 5%, is an oxaborole antifungal approved by the U.S. Food and Drug Administration in July 2014 for the topical treatment of onychomycosis of the toenails. Reproduction in whole or part is prohibited. We are proud of the innovative company that our team has built and are confident that Pfizer will help accelerate Anacor’s important mission given the strength of its global platform and resources.”. This cookie is set by Spotler and enables it to track the Load Balance Session Queue. This cookie is set by LinkedIn and is used for tracking. Anacor also has a pipeline of other internally discovered topical and systemic boron-based compounds in early stages of research and development. Pfizer Inc. (NYSE:PFE) and Anacor Pharmaceuticals, Inc. (NASDAQ:ANAC) today announced that they have entered into a definitive merger agreement under which Pfizer will acquire Anacor for $99.25 per Anacor share, in cash, for a total transaction value, net of cash, of approximately $5.2 billion, which assumes the conversion of Anacor’s outstanding convertible notes. Score a big win for Pfizer and its $4.5 billion buyout of Anacor Pharmaceuticals. This cookie is set by Linkedin and is used to track visitors on multiple websites, in order to present relevant advertisement based on the visitor's preferences. Election Day could turn into "Election Week" with rise in mail ballots. Pharma Advancement is a leading Pharma information centric website. All of the conditions to the offer have been satisfied and on June 24, 2016, Pfizer and its subsidiary Quattro Merger Sub Inc. accepted for payment and will promptly pay for all shares validly tendered and not validly withdrawn. Don’t add new lines with custom serialization software. Anacor’s flagship asset, crisaborole, has a New Drug Application under review by the U.S. Food and Drug Administration (FDA), is a differentiated non-steroidal topical PDE4 inhibitor with compelling clinical data, and if approved, has the potential to be an important first-line treatment option for … Anacor, meanwhile, already had an approved drug in Kerydin, an anti-fungal drug that is marketed in the U.S. by Novartis’ generics unit Sandoz. Our dedicated Inflammation and Immunology group has strong existing in-market franchises with Enbrel and Xeljanz, as well as a robust mid-stage pipeline, and this acquisition has the potential to add a near-term U.S. product launch. It does not store any personal data. All Rights Reserved. Required fields are marked *. These cookies do not store any personal information. It is based in Palo Alto, California, United States.Anacor was founded in 2002 based on technology created by Lucy Shapiro at Stanford University and Stephen Benkovic at Pennsylvania State University. “Now that Anacor is part of Pfizer, we can accelerate our shared commitment to help patients with inflammatory disease, an area of high unmet medical need,” said Albert Bourla, Group President, Pfizer Innovative Health. © Russell Publishing Limited, 2010-2020. Pfizer and Anacor’s filings with the SEC are also available to the public from commercial document-retrieval services and at the website maintained by the SEC at http://www.sec.gov. 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. They pointed out the drug is to be filled at the same Sanofi plant that had been cited with a Form 483 by the FDA. 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. Pfizer has completed its acquisition of Anacor Pharmaceuticals. For more than 150 years, Pfizer has worked to make a difference for all who rely on us. As a result, Pfizer has not included within the Adjusted Diluted EPS forecasts underlying the accretion calculations the impact of purchase accounting adjustments, acquisition-related costs and certain significant items. By Victoria White (European Pharmaceutical Review). If approved, Pfizer said it believes peak year sales could reach or exceed $2 billion. This is used to present users with ads that are relevant to them according to the user profile. Beyond KERYDIN and crisaborole, Anacor has discovered three investigational compounds that it has out-licensed for further development. This information—including product information—is intended only for residents of the United States. The total transaction value is approximately $5.2 billion. Beyond KERYDIN and crisaborole, Anacor has discovered three investigational compounds that it has out-licensed for further development. 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 Anacor each file annual, quarterly and current reports and other information with the SEC. Citi served as Anacor’s financial advisor, and Davis Polk & Wardwell, LLP served as its legal advisor. Successful serialization program involves more than just placing serial numbers on packaging. In September 2014, PharmaDerm launched KERYDIN. The condition results in red, scaly and extremely itchy crusted bumps. For more information, visitwww.anacor.com. What happens if the president doesn't accept the election results? This cookie is set by Cloudflare content delivery network and, in conjunction with the cookie 'cf_use_ob', is used to determine whether it should continue serving “Always Online” until the cookie expires. You can adjust your cookie and associated data processing preferences at any time via our "Cookie Settings". The Offer to Purchase, the related Letter of Transmittal and certain other tender offer documents, as well as the Solicitation/Recommendation Statement, will be made available to all holders of Anacor stock at no expense to them. Score a big win for Pfizer and its $4.5 billion buyout of Anacor Pharmaceuticals. For more information on the Adjusted Diluted EPS measure see Pfizer’s 2015 Financial Report, which was filed as exhibit 13 to Pfizer’s Annual Report on Form 10-K for the fiscal year ended December 31, 2015. Sorry, you need to enable JavaScript to visit this website. All rights reserved. Pfizer expects to complete the acquisition in the third-quarter 2016. Analytics cookies collect information about your use of the content, and in combination with previously collected information, are used to measure, understand, and report on your usage of this website. We believe that Pfizer is in a position to quickly capitalize on the benefits offered by the combination with Anacor, including the potential for a near-term U.S. product launch and subsequent commercialization of crisaborole, a differentiated asset with compelling clinical data. Bourla said that there are currently few safe topical treatments available for the condition. Powered and implemented by FactSet. On May 16, Pfizer announced that it was acquiring Anacor Pharmaceuticals (NASDAQ: ANAC) for the hefty sum of $99.25 in cash per share, or a 55% premium to where Anacor … Strong fit with Pfizer’s Inflammation and Immunology portfolio, Expected to enhance near-term revenue growth for the innovative business, Anacor’s flagship asset, crisaborole, has a New Drug Application under review by the U.S. Food and Drug Administration (FDA), is a differentiated non-steroidal topical PDE4 inhibitor with compelling clinical data, and if approved, has the potential to be an important first-line treatment option for patients with atopic dermatitis. “Anacor will be a strong fit with Pfizer’s innovative business, further supporting our strategic focus on Inflammation and Immunology, and is expected to enhance near-term revenue growth for the innovative business. Anacor Pharmaceuticals is a biopharmaceutical company focused on discovering, developing and commercializing novel small-molecule therapeutics derived from its boron chemistry platform. The total transaction value is approximately $5.2 billion. Guthrie asks Trump why he'd tweet "a lie" about Biden, Trump refuses to denounce right-wing conspiracy group QAnon, Biden says he'll give answer on court packing before election, Trump says he doesn't know if he took COVID test on debate day, What we know – and don't – about Hunter Biden's alleged laptop, U.S. battles fall coronavirus surge as states see record cases, Feds charge Texas billionaire with "largest ever" tax fraud, Former Chicago police superintendent accused of sexual assault, Battleground Tracker: Latest polls, state of the race and more, 5 things to know about CBS News' 2020 Battleground Tracker, CBS News coverage of voting rights issues.