Pfizer Strikes $5.2B Agreement with Anacor

Less than a month after pharmaceutical company Pfizer backed away from plans to acquire Allergan plc, it struck a $5.2 billion deal to buy Palo Alto, CA-based Anacor Pharmaceuticals Inc. The buyer, headquartered in New York City, has interest in Anacor’s eczema gel.

The acquisition will give the New York City-based pharmaceutical giant access to Anacor’s crisaborole, a non-steroidal topical gel currently under review by the U.S. Food and Drug Administration (FDA). Pfizer indicated the gel could reach or exceed $2 billion in sales.

Analysts believe the deal could signal Pfizer’s strategy to strengthen its portfolio ahead of a potential decision to sell or spin off its generic medicines business by late 2016. The Anacor acquisition is expected to close during the third quarter of 2016.