Pfizer to buy Array BioPharma in deal worth $11.4 billion

NEW YORK (AP) — 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.Read more on NewsOK.com

NEW YORK (AP) — 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.
Read more on NewsOK.com

Read more on Newsok 

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