Pfizer Inc. (NYSE:PFE) completed the previously announced acquisition of Array BioPharma Inc., advancing science for the discovery, development and commercialization of targeted small molecule medicines to treat cancer and other diseases of high unmet need.
The deal amounted to $11.4 billion.
As Array becomes part of Pfizer, it brings its existing portfolio that includes the approved combined use of BRAFTOVI® (encorafenib) and MEKTOVI® (binimetinib) for the treatment of BRAFV600E or BRAFV600K mutant unresectable or metastatic melanoma, with significant potential for long-term growth via expansion into additional areas of unmet need.
Additionally, BRAFTOVI and MEKTOVI are being investigated as a potential first-in-class combination for the treatment of BRAF-mutant metastatic colorectal cancer (mCRC), based on compelling interim results from the pivotal Phase 3 BEACON trial, setting the stage to create a potentially franchise for colorectal cancer alongside Pfizer’s existing expertise in breast and prostate cancers.
As Array’s team becomes part of Pfizer, the company plans to maintain Array’s operations in Cambridge, Massachusetts and Morrisville, North Carolina, as well as Boulder, Colorado, which becomes part of Pfizer’s Oncology Research & Development network in addition to La Jolla, California and Pearl River, New York.