Pfizer to acquire Array BioPharma for $11B
BOULDER — Array BioPharma Inc. (Nasdaq: ARRY), a Boulder-based commercial-stage pharmaceutical that focuses on cancer treatments, will be acquired by pharmaceutical giant Pfizer Inc. (NYSE: PFE) in a deal estimated to be worth about $11 billion.
Under the terms of the agreement, which has been approved by both companies’ boards of directors, Pfizer will pay $48 in cash for each Array share.
“Today’s announcement reinforces our commitment to deploy our capital to bring breakthroughs that change patients’ lives while creating shareholder value,” Pfizer CEO Albert Bourla said in a prepared statement. “The proposed acquisition of Array strengthens our innovative biopharmaceutical business, is…
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