Pfizer acquires Anacor striking a $5.2 billion deal
Pfizer has regained its momentum even after its plan of a $150 billion dollar worth merging with Allergan was sabotaged by the White House. Pfizer is also looking forward to buy Medivation Inc, a cancer drug maker.
Behind the screens
Atopic dermatitis, popularly known as eczema affects about $25 million US citizens every year right from childhood. This disease is reported by inflammation and itching lasting for more than three weeks. The current strategy is to reduce itching by treating with corticosteroids. Anacor’s drug Crisaborole currently under FDA approval has blockbuster potential in market as a cure for eczema. This drug is also predicted to serve as a treatment for psoriasis. Once into market, Pfizer estimates Crisaborole to peak sales by $2 billion.
Anacor has actively licensed out three other drugs under the neglected diseases category for development. They include:
- A drug for parasitic disease, African trypanosomiasis commonly known as sleeping sickness found commonly in Africa.
- A drug for the treatment of animal health indication is under development by Eli Lilly and Company.
- Another drug for tuberculosis treatment is being developed by GlaxoSmithKline.
The Boron research
Anacor is currently working on drugs related to boron as it has high reactivity and its geometric structure could react with several biological targets. This element is found predominantly in fruits and vegetables however, it cannot be produced artificially.
Acquiring Anacor gives Pfizer leverage on all these drugs which once in market would mint money putting Pfizer as the leading biopharmaceutical company once again.