Pfizer Aims To Strengthen Pharm. Business With Vicuron
It was announced today that Pfizer will be acquiring Vicuron Pharmaceuticals, a company that focuses on novel anti-infectives for both hospital-based and community-acquired infections.
“By acquiring Vicuron, we can help bring two very important new medicines to patients around the world,” said Hank McKinnell, the chairman and CEO of Pfizer.
The two medicines that he is talking about are anidulafungin for fungal infections and dalbavancin for Gram-positive infections. They are both currently under New Drug Application (NDA) at the FDA.
Pfizer will be acquiring all outstanding shares of Vicuron common stock at $29.10 per share in cash. The acquisition will total somewhere around $1.9 billion.
“This transaction builds on Pfizer’s extensive experience in anti-infectives and demonstrates our commitment to strengthen and broaden our pharmaceutical business through strategic product acquisitions,” said McKinnell.
Pfizer has already been working with Vicuron. They have been researching potential next-generation oxazolidinones, which is the first new class of antibiotics in over thirty years.
“We believe this transaction is in the best interests of our shareholders and will enable Vicuron’s two near-term products to utilize Pfizer’s capabilities in order to fully achieve their potential,” said Vicuron President and CEO George F. Horner III. “We are pleased to have a world leader in anti-infective medicines, with a long history of success in the area, introduce these product candidates into the market.”
Completion of this transaction is of course subject to regulatory approval, as well as Vicuron shareholder’s approval and other customary closing conditions. The acquisition is expected to be completed during the third quarter of this year.
Vicuron shares closed at $15.80 yesterday, and were up $12.10, or 77%, to $27.90 in premarket trading today. Pfizer’s shares were down 23 cents to $28.20 in premarket trading.