Pfizer to splash USD5.2bn cash on eczma group Anacor

Pfizer has agreed to acquire Nasdaq-listed Anacor for $5.2bn cash ahead of potential regulatory approval for its crisaborole dermatitis treatment.

Pfizer, which is funding the $99.25-per-share deal through existing cash resources, said it expects the addition of Anacor would enhance near-term revenue growth and would be a strong fit with its Inflammation and Immunology arm.

Earnings are unlikely to be affected in 2016 but Pfizer expects the deal to slightly dilute adjusted diluted earnings per share (EPS) in 2017 before contributing positively to EPS in 2018 and increasing thereafter.

Crisaborole, Anacor’s flagship asset, is a non-steroidal topical, immunue-moderating and anti-inflammatory treatment currently under review by the US Food and Drug Administration (FDA) for the treatment of mild-to-moderate atopic dermatitis, or eczema.

If approved, Pfizer believes peak year sales for crisaborole have the potential to reach or exceed $2bn.

“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,” said Albert Bourla, president of Pfizer’s pharma, vaccines, oncology and consumer healthcare businesses.

“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.”

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