Monday, June 17, 2019

Array BioPharma Acquired By Pfizer For $11.4 Billion

Boulder-based Array BioPharma, a developer of treatments for colorectal cancer, has been acquired by Pfizer for $11.4 billion, the two companies announced on Monday. According to Pfizer, the deal will help it strengthen its biopharmaceuticals business. Pfizer will pay $48.00 per share in cash for Array. Pfizer says it plans to continue to maintain a research unit in Boulder, to help complement its existing research hubs.