Pfizer’s parent company acquires Array BioPharma
18th Jun 2019

Pfizer’s parent company -- Pfizer Inc., USA, has acquired Array BioPharma, a biotechnology firm that specializes in cancer drugs. The company has offered $48 per share in cash for Array, putting $11.4 billion value on the company.

The proposed acquisition sets the stage to create a potentially industry-leading franchise for colorectal cancer alongside the company’s existing expertise in breast and prostate cancers.

Pfizer has produced innovative breakthroughs in a wide range of research areas, including depression, erectile dysfunction, high cholesterol, HIV infection, hypertension, bacterial infections and systemic fungal infections.