[ACCESSWIRE]
Anacor's Phase 3 Eczema Drug Could Rake in Revenues Once Approved
LONDON, UK / ACCESSWIRE / May 18, 2016 / Today on ActiveWallSt.com, our financial writer has looked at drug behemoth Pfizer Inc. (NYSE: PFE) as the company sharpens its focus on strategic opportunities while
stepping up the pace of acquisitions in high-growth areas aimed at addressing a significant unmet medical need for a large patient
population. As part of these plans, the drug maker announced on Monday, May 16th, 2016, that it will buy California-based Anacor Pharmaceuticals Inc. (NASDAQ: ANAC) for $5.2 billion, including debt. Sign up on ActiveWallSt.com to have more on the Drug Manufacturing Industry at:
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The acquisition comes just weeks after Pfizer called off plans for a $160-billion merger with Irish drugmaker Allergan Inc. (NYSE: AGN). The deal had raised the eyebrows of US tax authorities since they felt that Pfizer had planned the merger to save tax liability.
Eczema gel seen to be a bestseller
Pfizer's acquisition of Anacor will give the drug maker access to a non-steroidal topical gel, crisaborole, which is currently under US Food and Drug Administration (FDA) review for the treatment of eczema, or clinically called atopic dermatitis. It is worth noting that Crisaborole has shown promising results in Phase 3 clinical trials. Therefore, Pfizer believes that crisaborole could be a blockbuster drug once approved by the FDA, and could reach or exceed peak sales of $2 billion, especially since it is a common, relapsing, inflammatory skin disorder that affects 18-25 million people in the US. The Pfizer deal may be significance since there have been no new drugs approved for eczema over the past 15 years.
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Pfizer's financial might to take on risk
The deal comes with its fair share of risks since the FDA has not yet approved crisaborole for commercial use and may take a final decision only in January 2017. However, Pfizer, with $19.4 billion in cash and short-term investments on hand, certainly has the financial muscle to take on the risk with crisaborole. Pfizer could well use a late-stage pipeline asset that is on the road to approval since it is a norm among big drug firms to replace revenue from drugs that lose patent protection.
The acquisition bodes well for Pfizer, which has a strong presence in primary care and pediatric treatments, the target markets for crisaborole. Pfizer's inflammation and immunology drugs portfolio now includes Enbrel and Xeljanz, which are used to treat autoimmune diseases. Enbrel, marketed by Pfizer outside North America, lost patent protection in Europe last year. Hence, it becomes imperative for Pfizer to look for a valuable alternative drug to replace Enbrel.
Looks like Pfizer is yet to get over its itch for acquisitions!!
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