PFIZER compra Array BioPharma por $11.4 billion

By Associated Press June 17

NEW YORK — Pfizer is delving deeper into cancer research with a roughly $11.4 billion deal for Array BioPharma, a drug developer that has seen its shares soar since announcing positive clinical trial results earlier this spring.

Pfizer said Monday it will pay $48 per share in cash for Array, whose product portfolio includes a treatment combination used for advanced skin cancer that is being tested in other cancers as well.

The company said last month that its combination of the drugs Braftovi and Mektovi along with another treatment led to a significant improvement in overall survival in late-stage testing for some patients with colorectal cancer. The company plans to submit results from that study to U.S. regulators for approval later this year.

Array’s share price has jumped 41 percent since late May and more than doubled so far this year. Pfizer’s offer of $48 per share represents a premium of 62 percent to the stock’s closing price of $29.59 on Friday.

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