Pfizer Acquires Array BioPharma

Pfizer and Array BioPharma have entered into a definitive merger agreement under which Pfizer will acquire Array, a commercial stage biopharmaceutical company focused on the discovery, development and commercialization of targeted small molecule medicines to treat cancer and other diseases of high unmet need. Pfizer has agreed to acquire Array for $48 per share in cash, for a total enterprise value of approximately $11.4 billion.    Array’s portfolio includes the approved combined use of BRAFTOVI (encorafenib) and MEKTOVI (binimetinib) for the treatment of BRAFV600E or BRAFV600K mutant unresectable or metastatic melanoma. The combination therapy has significant potential for long-term growth via expansion into additional areas of unmet need and is currently being investigated in over 30 clinical trials across several solid tumor indications, including the Phase 3 BEACON trial in BRAF-mutant metastatic colorectal cancer (mCRC).   Upon the close of the transaction, Array’s employees will join Pfizer and continue to be located in Cambridge, MA and Morrisville, NC, as well as Boulder, CO, which becomes part of Pfizer’s Oncology Research & Development network in addition to La Jolla, CA and Pearl River, NY.