Pfizer to buy biopharma firm Anacor for $ 5.2 bn

Pfizer has agreed to acquire Anacor, a biopharmaceutical company focusing on novel small-molecule therapeutics derived from its boron chemistry platform, 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. Anacor’s flagship asset, crisaborole, a differentiated non-steroidal topical PDE4 inhibitor with anti-inflammatory properties, is currently under review by the US FDA for the treatment of mild-to-moderate atopic dermatitis, commonly referred to as eczema.

“We believe the acquisition of Anacor represents an attractive opportunity to address a significant unmet medical need for a large patient population with mild-to-moderate atopic dermatitis, which currently has few safe topical treatments available. 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,” said Albert Bourla, group president of Pfizer’s global innovative pharma and global vaccines, oncology and consumer healthcare businesses.

Anacor will be a strong fit with Pfizer’s innovative business, further supporting its strategic focus on inflammation and immunology, and is expected to enhance near-term revenue growth for the innovative business. “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 US product launch. We believe we are well positioned to maximise crisaborole’s commercial potential through our strong relationships with paediatricians and primary care physicians,” continued Bourla.

Atopic dermatitis is a common, relapsing, chronic, inflammatory skin disorder, with patients displaying a chronic rash characterised by inflammation and itching, often occurring in folds of the skin with symptoms lasting up to 14 days or more. Approximately 18 to 25 million people in the US suffer from this condition, including between 8 and 18 percent of infants and children. Atopic dermatitis has been considerably underdiagnosed due to the lack of approved effective systemic agents, and limitations of current topical agents. There have been no new molecular entities for atopic dermatitis in the last 15 years.

Anacor also holds the rights to Kerydin, a topical treatment for onychomycosis (toenail fungus) that is distributed and commercialised by Sandoz Inc in the US.